The 200-year-old Nordea Bank, a legacy bank in the Scandinavian region with some 9 million customers, had taken a bold step of digital transformation and overhaul of its entire infrastructure way back in 2019 to futureproof itself and be ready for the digital upheaval that the banking industry as a whole was about to undergo. The first step that the bank took in this direction was described a 'group simplification program' by gradually getting rid of the legacy infrastructure, that is indeed a legacy of what has been a number of mergers and acquisitions involving some 300 banks across the region. The main intention was to create a powerful digital offerings platform and quite understandably the bank went about doing this with the help of fintechs, big techs and other tech players.
Nordea Bank is a blend of the words 'Nordic' and 'idea' and came into being after a series of mergers and acquisitions of the Finnish, Swedish, Danish, and Norwegian banks during 1997-2001.
Denne historien er fra February 2023-utgaven av Banking Frontiers.
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Denne historien er fra February 2023-utgaven av Banking Frontiers.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: