The Nordic tech ecosystem – a vital enabler for entrepreneurs and their partner companies

Einar Eidsson, Group Digital.
19-05-02 12:33 | Digital banking | The Digital Hub

A startup thrives best in a close-knit environment that consists of other entrepreneurs, advisors, investors, workspaces, incubators, accelerators, meetups, and talent. This environment is often referred to as the “tech ecosystem”. In the Nordics, the tech ecosystem has contributed to the success of countless startups and entrepreneurs during the last several years.

Besides having this great tech ecosystem environment, the Nordic countries are also inhabited by people who are considered to be extremely tech savvy and more frequent users of mobile phones than people in other regions. For companies operating in the Nordics, including banks like Nordea, this means that there is a strong need to be fully present in all digital channels and in a way that is engaging to customers. Consequently, we at Nordea are constantly developing our presence and our services in digital channels.

However, since things move very quickly in the digital space, companies are no longer able to always rely on their own creative resources. Thus, there are great opportunities for partnerships between companies and players in the tech ecosystem, resulting in win-win situations for all concerned parties.

Most large companies and financial institutions have an interest in seeing the tech ecosystem thrive and are working to support it. There are many reasons for this, but my favourite ones are:

  1. To support entrepreneurs to drive the long-term growth of the Nordic economies and the creation of the Nordic champion companies of the future. 
  2. Startups need a wide array of financial services and help to scale their business quickly. This makes serving them a business priority to banks like Nordea.
  3. Startups can most of the time innovate and move much quicker than large market incumbents. This can make them the perfect partner for an incumbent as they not only quickly create value for the customers of large companies but also make the large companies interesting investments as well.

Through the partnerships listed below and others like them, Nordea contributes and actively takes part in the Nordic tech ecosystem, to the benefit of Nordic startups as well as our customers.

/Einar Eidsson, Group Digital

Nordea initiatives engaging with the tech ecosystem

The name Nordea is a contraction of the words Nordic Ideas and fittingly we are a core part of each national tech ecosystem in the Nordics. Using Sweden as an example, below are some of the ways Nordea is involved: 

• The Stockholm School of Entrepreneurship (SSES) and Nordea have partnered around exchanging knowledge, supporting the tech companies of SSES Ventures and gaining insights on future customer behavior via a FinTech bootcamp later in 2019.

• Fintech / Decentralized (Findec), the newly launched Swedish FinTech Hub, and Nordea have partnered around supporting the Swedish FinTech community that they are building. The aim is to strengtheni Stockholm as the natural hub for FinTech in the Nordics.

• Swedish Startup Gala and its host SUP46 first partnered with Nordea around the Startup Gala and we now continue to work together on different opportunities.

• Sthlm Tech Meetup is sponsored by Nordea along with other ecosystem participants like Amazon and Microsoft. The Sthlm Tech Meetup is a monthly deep dive into key tech developments in Stockholm that is attended by hundreds of founders, investors and other interested people.

• Norrsken Foundation and Nordea have been partners since the start of 2018 and the purpose of this partnership is to support entrepreneurs with business ideas aimed at making a positive impact on our societies. 

Latest posts by the Digital Hub

Showing 5 of 70 results

Julia Moisand, Nordea's Head of Design

"Good design is good business"

Digital banking The Digital Hub

Julia Moisand is Nordea's new Head of Design.

Customer co-creation keeps Nordea's mobile bank on the cutting edge

Digital banking The Digital Hub

Feedback from customers and data are fundamental tools in the development of new mobile bank features.

Blog: Open Banking for Dummies - what you've been too afraid to ask about

About Nordea Digital banking The Digital Hub

Open banking and core platforms explained.

Great minds think together at #HACK19

Digital banking The Digital Hub

Each year Nordea arranges a hackaton to benefit from employee co-creation.

Showing 5 of 70 results