18 January 2017
visit http://www.wolterskluwerfs.com

Swedbank to split off digital bank from branch network

28 November 2012  |  6302 views  |  0 Swedbank logo

Swedbank is to hive off its digital banking operations into a separate business entity and reposition its branch network to cater for more complex financial advisory services.

The Swedish bank says the move is "a natural consequence of changed customer behavior and needs, as fewer customers use branch offices and instead want complete banking services available over digital channels".

The restructuring, to take effect in January, will devolve responsibility for retail banking to the six Swedish regions, dissolving the national organisational structure. Swedbank's branch offices will gain more freedom to adjust their offerings to meet local requirements and service customers with greater advisory needs.

The bank, which has set itself a target to reduce underlying costs by Skr1 billion by year-end, currently has 9.5 million private customers and 650,000 corporate customers with 362 branches in Sweden and 222 branches in the Baltic countries.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Bank branch reform key to retail banking recovery - A T Kearney

Bank branch reform key to retail banking recovery - A T Kearney

09 October 2012  |  6738 views  |  0 comments | 1 tweets
Internet overtakes branch as channel of choice for Australians

Internet overtakes branch as channel of choice for Australians

08 October 2012  |  8263 views  |  3 comments | 1 tweets
Swedbank blames social media rumours for Latvian ATM panic

Swedbank blames social media rumours for Latvian ATM panic

12 December 2011  |  7776 views  |  0 comments
Swedbank introduces mobile phone e-ID system

Swedbank introduces mobile phone e-ID system

19 April 2010  |  6907 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextra

Top topics

Most viewed Most shared
Five fintech surprises for 2017Five fintech surprises for 2017
15575 views comments | 51 tweets | 49 linkedin
Blockchain impact timeline speeds up, massive cost savings forecastBlockchain impact timeline speeds up, mass...
12687 views comments | 37 tweets | 31 linkedin
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
12514 views comments | 81 tweets | 97 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
10099 views comments | 44 tweets | 37 linkedin
Swift goes deeper into the blockchainSwift goes deeper into the blockchain
9208 views comments | 30 tweets | 42 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job