21 August 2017
visit www.avoka.com

Swedbank VC partnership to leverage IT investments

08 November 2000  |  3229 views  |  0 Swedbank VC partnership to leverage IT investments

Sweden's ForeningsSparbanken (Swedbank) is joining with venture capitalist IT Provider to invest in and pilot services for Internet banking.

Investments will primarily be made in e-businesses that focus on small and midsize companies as well as individuals, and on the development of commercial infrastructure for e-commerce. Examples include companies that offer online products and services that benefit the bank’s Internet customers.

"Our cooperation is a concrete example of how to bring together the old and new economy," says Johan Hernmarck, president of IT Provider. "Since the companies we select are able to offer their products and services to FöreningsSparbanken’s Internet customers, they don’t have to build up their own customer bases. They can begin right away to do business with customers that are used to buying online."

A growing share of the bank’s 4.5 million private customers and 230,000 business customers use the Internet to conduct banking business and other transactions.

The bank is cooperating this autumn with Telia, the Federation of Private Enterprises, Nutek and Microsoft on a project with the collective name 'IT lift', designed to help small businesses get online.

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

Swedbank ranked top Web bank in Sweden

Swedbank ranked top Web bank in Sweden

03 November 2000  |  3491 views  |  0 comments
Goldman Sachs launches financial services venture arm

Goldman Sachs launches financial services venture arm

27 September 2000  |  2962 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10579 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8838 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8830 views 0 | 4 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8502 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
8162 views comments | 17 tweets | 16 linkedin

Featured job

Find your next job