Nordea to open branches in department stores

Nordea to open branches in department stores

Scandinavian bank Nordea is to open a network of branches within Stockmann's department stores in Finland.

The bank has already opened a 'shop' in a Stockmann's store in central Helsinki with four more to follow next month in Oulu, Tampere, Turku and Greater Helsinki, serving customers during the stores' opening hours.

Nordea staff will provide advisory services related to savings and investment products as well serve customers with the department store's own MasterCard.

Pekka Nuuttila, head of banking, Finland, Nordea, says: "Our new service points will serve Stockmann's customers flexibly during the opening hours of the department stores. This means customers can drop in to discuss their banking matters while shopping."

Last month the UK's Co-operative Group outlined plans to pilot an in-store banking scheme which will introduce financial self-service facilities across its larger supermarkets.

The 'Co-operative Bank Contact Points' will initially be trialled in five food stores in Nottingham and Brighton. If the pilot is successful the mutual group plans a roll out across its 250 biggest stores in the UK in late 2009.

In-store banking was a popular proposition among US banks in the 1990s, but the concept never really caught on in European markets as the larger supermarket chains instead pushed to develop their own financial services operations.

Comments: (0)