Swedbank, a Nordic-Baltic banking group based in Stockholm, has decided to combine its Group IT and Digital Banking divisions as part of its major organisational overhaul.

The restructuring, according to the bank, is aimed at creating simpler and clearer decision-making structures.

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The division formed after the merger will be called Digital Banking & IT. It will focus on developing online services and related infrastructure and aid the bank in becoming a ‘more digital company’.

As a part of the organisational overhaul, the bank also integrated cash management, PayEx, and payment infrastructure functions with its Large Corporates & Institutions business area.

Furthermore, a new unit ‘Group Financial Products & Advice’ is created to advice customers on savings, insurance and loan products.

Major parts of Customer Value Management (CVM) have become part of Swedish Banking business area. The business will continue to support the bank with customer data analysis.

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Earlier in April, Swedbank set up an anti-financial crime unit to combat financial crimes.

Swedbank CEO Jens Henriksson said: “By bringing functions closer to customers and paving the way for simpler and swifter decisions, we strengthen our ability to move forward in line with the bank’s strategy.

“We shall facilitate the everyday life of our customers and to develop even better banking services.”

Henriksson also announced that the current chief risk officer Helo Meigas will step down. Its current head of Baltic Banking, Charlotte Elsnitz, will also leave the bank.

Leif Karlsson, who leads the bank’s Group Lending & Payments division, will step down during the first quarter next year.