Swedbank leverages data to the hilt

Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:

- mohan

At Sweden’s leading banking institution, Swedbank, a vast majority of operations are fully digitized. This is mainly facilitated by a well-developed infrastructure constituting a number of data centers. The bank offers a varied range of banking and financial solutions, including financing, savings and investments, payments and cards, and trading and capital markets. It also provides services like safe deposit boxes, real estate management, brokerage and treasury and legal services. It is present in Estonia, Latvia, Lithuania, China, Denmark, Finland, Norway, and the US and has over 7 million retail customers and 550,000 corporate customers in its home markets alone.

Swedbank works in a mainframe environment. It has recently engaged leading IT infrastructure services provider Kyndryl to manage and operate its mainframe systems. Kyndryl will concentrate on the bank’s core banking IT services.

As the bank has been making use of data in many ways, it felt the need for a secure, reliable system which necessitates increased number of data centers. The bank collaborated with Coromatic, the Nordic group that offers business continuity and critical facilities, to design and build a new data center in Stockholm. A most modern and functional data center thus came into being in the latter part of 2017.

UNIQUE EAP