Nordea selects partners for new Core Banking Platform (press release):

As an important step in the development of more personalised and convenient services to customers in the future, Nordea has signed an agreement with partners to implement the new Core Banking Platform.

Digitalisation and the rapid change in customers’ preferences towards using online and mobile solutions are transforming the banking industry.

The new Core Banking Platform is a key part of Nordea’s Simplification Programme aimed at meeting the bank’s 11 million customers’ needs going forward. Products and processes are currently being simplified and as part of the programme the current banking systems will be replaced with new core banking and payment platforms in the coming years.

The new Core Banking Platform will be implemented using a solution from Temenos, while Accenture has been chosen to provide the integration and implementation support.

- Our customers will benefit from much more personalised and convenient services, when we move from different legacy systems to one single platform. Additionally, this will enable us to deliver new digital solutions at a higher speed than today, and we will have a more scalable and resilient platform, says Jukka Salonen, Head of Group Simplification.

The new platform will comprise loans, deposits and transaction accounts for customers in all parts of the bank, and will be provided through a common architecture across the Nordic countries.

The migration to the new platform will be done gradually over the coming four to five years.