Nordea hires mBank's Panowicz to aid digital transformation

Nordea hires mBank's Panowicz to aid digital transformation

Nordea has hired Michal Panowicz from Polish direct bank mBank, as deputy head of digital banking.

Billed by the bank as "a digital frontrunner in banking" Panowicz's focus will be on the development side of Nordea’s digital services and the sales and marketing of these along with the integration between digital and other channels.

Prior to mBank, where he held the position of managing director for Products, Marketing & Digital, Panowicz worked at Microsoft, eBay and The Boston Consulting Group. He also spent two year on the advisory board of Polish startup Alior Bank.

“Today’s online and mobile channels are so far mainly focused on simple transactions and less on providing sufficiently actionable information," says Panowicz. "At large, new digital capabilities will provide our customers with a new level of access to their money, information, insight, advice, and the opportunity to acquire new products and services across digital platforms."

In October, Nordea announced plans to take a EUR344 million impairment charge on its current IT systems and embark on a major project to rip and replace its core banking and payments platforms.

The Stockholm-based bank outlined its plans to boost IT spending by 30-35% over the next four-to-five years during its third quarter results presentation.

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