Nordea is driving a large number of digital projects that will improve its service offerings, such as new online banking platforms, mobile payments and analytics tools. And now Nordea has collected the RBI award for IT Transformation at the annual global RBI Awards reports Douglas Blakey

Digital development is key to Nordea’s future success. It is investing €1bn in its banking and payments software overhaul, the largest such project in European banking. It is looking to automate its largely manual processing, which at present requires input from 5,000 staff.

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As part of its digital drive, it established a new Group Digital unit Last June with the objective to drive the digital agenda forward across the bank and made a number of high profile hires.

The unit is co-headed by Poul Raaholt, previously head of Group IT at Nordea, and Ewan MacLeod, previously responsible for the Retail digital transformation programme at Royal Bank of Scotland. Alvaro Garrido, previously Group Head of Technology at Standard Chartered Bank, was appointed new head of Group IT.

The new Group Digital unit is an initiative that together with the already initiated Core Banking and Simplification programmes is designed to enhance its drive to become a truly digital bank.

The unit aligns all digital projects with the Group’s strategy, and utilises possible synergies between the different projects to improve efficiency.

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Full completion of the bank’s core banking replacement project with Temenos’ T24 system replacing systems from Misys and Tieto is not expected until 2020.

The award was collected by Nordea COO, Jukka Salonen.