Nordea overhauls core banking systems

Nordea has selected Accenture and Temenos to help replace its core banking systems across the Nordics as part of its broader “simplification” programme.

Accenture will provide consulting services and assist in integrating the new central platform, which will be based on Temenos’ core banking software.

Jukka Salonen, head of group simplification at Nordea, said: “Digitalisation and the rapid change in customers’ preferences toward using online and mobile solutions, as well as the increasing operational regulation, are transforming the banking industry. The new core banking platform is a key part of Nordea’s simplification programme, aimed at meeting the current and future needs of our bank’s 11 million customers.

“The migration to the new platform will be done gradually over the next four to five years,” he explained. “Along with simplified processes and products, the new platform will provide the framework for an end-to-end digital business model, improving our operational agility and delivering the benefits of scale.”

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