AutoFX wins innovation award in Transaction Services

Nämä tiedot julkaistaan vain englanniksi
28.04.17 15:48 | Awards and organisational news

Nordea solution AutoFX has won an award for Product Innovation in Global Finance’s The Innovators awards for 2017. Transaction Banking and Nordea Markets jointly entered the successful award submission into Global Finance’s Transaction Services category. 

The winners were chosen by the editorial board of Global Finance, a respected international financial industry publication. The Global Finance board evaluated banks and service providers that stood out for their transformative products and solutions and included the input of experts. 

"We are absolutely delighted that Global Finance has recognised the benefits AutoFX brings to treasury departments. It is an innovative solution that has been developed in an innovative manner - through direct collaborative development with a customer and subsequently a pilot group of key customers," commented Erik Zingmark, co-Head of Transaction Banking at Nordea. 

“We feel it is essential that banks enter into an ongoing dialogue with customers around digitalisation to ensure that they are in tune with their needs, and to allow the customer to actively shape the future landscape of payments and financial services. The fanciest digital solution is worthless if it does not meet the needs of the customer,” Zingmark added. 

AutoFX was developed in collaboration with a high-profile Nordea customer, in an effort to help modern treasury functions automate their daily routines and risk management. After an 18-month pilot phase run together with a handful of customers, AutoFX was launched to available to all Nordea customers in February 2017.

The key benefits of AutoFX are: the freeing up resources and eliminate manual tasks; minimising operational risk and human error; the managing of FX risk in real-time; a reduction in interest cost by monitoring automatically and topping up of negative balances; and easy implementation. 

Nordea was also mentioned for its role as underwriter and global coordinator in DONG Energy’s Process Innovation award win in the Corporate Finance area for the Dong Energy IPO. 

Global Finance’s The Innovators 2017 will be honoured during Global Finance’s Digital Bank Conference and Awards in London at the RBC Hose on 2 November. 

Quick links: 

Other Cash Management news

Nordea wins GTR award for Best Trade Finance Bank

Awards and organisational news

At the recent Global Trade Review magazine awards held in London, Nordea was named as Best Trade Finance Bank in the Nordic Region

Nordea wins banking innovation award again

Awards and organisational news

For the second year running Nordea has won a Global Retail Banker award for “IT Innovation of the Year”, this time for its Open Banking initiative.

Nordea named Nordic No1 for Trade Finance and SCF

Awards and organisational news

Nordea has been named both Best Trade Finance Provider and Best Supply Chain Finance Provider in the Nordic Region for 2018 by Global Finance Magazine.

Open Banking: year in review and a look ahead

Product updates

2017 was the year of Open Banking. In February, Nordea launched its Open Banking Developer Portal, inviting third parties to sign up for early access to the...

Nordea’s Open Banking Portal wins Digital Innovation Award

Awards and organisational news

Nordea’s Open Banking Portal, first launched in early 2017, has won the Banking Technology Award for Top Digital Innovation.