Danske Bank has unveiled a plan to strengthen its IT platform as part of its digital transformation strategy, called ‘Turn to New Tech’.
The initiative aims to upgrade the bank’s IT platform and allow it to quickly adopt and leverage new technology.
Turn to New Tech will employ methods such as greater use of application programming interface (API), cloud technology, better use of data and incorporating security as part of the design.
Going forward, the Danish bank will use cloud solutions provided by technology vendors such as Amazon Web Services.
Through this initiative, the bank aims to redeploy resources and focus on commercial activities and the development of solutions for customers.
Danske Bank CTO and transformation lead Bo Svejstrup said: “Turn to New Tech and our agile way of working should speed up our production of innovative customer solutions. Moreover, we expect our solutions will be even easier to use and that we will have happier employees, as they will enjoy a level of autonomy that makes going to work more fun.”
Danske Bank IT lead for finance tribe Anders Mikkelsen noted that because of principles behind Turn to New Tech, the bank is now “faster at getting the new systems up and running”.
“One of the results of all this is that we can control the bank’s liquidity and risks more precisely, as we can now make better and faster calculations and produce reports in real-time, not a week later,” Mikkelsen added.
The announcement comes after the lender revealed that it is in talks with authorities to resolve the ongoing money laundering case.
Danske Bank is being probed by several authorities over suspicious transfers of around $210bn from its Estonian branch between 2007 and 2015.