Swedbank Invests in New Savings Platform
June 08 2021 - 4:10AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedbank AB said Tuesday that it is investing in a
savings platform that will provide the necessary infrastructure to
support personalized advice and create the opportunity for new
services for savings and investments.
"The new savings platform is part of our strategic effort to
improve efficiency and simplify our processes and routines, while
at the same time creating a stable, standardized and scalable
foundation for Swedbank and the savings banks entire customer
offering," said Kerstin Winloef, head of group financial products
& advice at Swedbank.
The Swedish bank said it is partnering with global fintech firm
FNZ on the new platform. FNZ offers cloud technology which
strengthens the possibilities both in terms of scalability and
flexibility, Swedbank said.
"Great complexity and increased regulatory pressure, coupled
with higher demands on reliability and efficiency, make it
beneficial to share the costs of platforms and together drive
technological development forward," Mrs. Winloef added.
Financial details weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 08, 2021 05:01 ET (09:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Swedbank A B (PK) (USOTC:SWDBY)
Historical Stock Chart
From Apr 2024 to May 2024
Swedbank A B (PK) (USOTC:SWDBY)
Historical Stock Chart
From May 2023 to May 2024