Nordea sets up Group Digital Unit

Nordea sets up Group Digital Unit

Nordea has established a new Group Digital Unit to oversee its wide-ranging tech transformation programme.

In November, Nordea selected Accenture and Temenos to help the bank replace its core banking systems across the Nordics as part of a wide-reaching “simplification” programme.

The Stockholm-based bank has committed to boost IT spending by 30-35% over the next four-to-five years, moving all accounts across to the new core platform, consolidating its existing data warehouses and implementing a unified payments hub capable of handling domestic, international and Sepa payments.

The new digital unit has been charged with overseeing all tech transformation projects across the bank and finding synergies between the multiple ongoing programmes.

It will be 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, is appointed new head of Group IT with a brief to co-ordinate and drive the common agenda among the bank's disparate IT community.

Torsten Hagen Jørgensen, Group COO, Nordea, says: "Digital development is key to Nordea’s future success. We have a large number of digital projects that will improve our service offerings, such as new online banking platforms, mobile payments and analytics tools, to name a few. As a strategic entity, Group Digital will together with the business areas ensure the successful delivery of value adding digital solutions to our customers."

The new unit will start to operate on 1 September.

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