Advancements in Mobile Technologies boost Fintech Activities in Nordea

Posted by Deeksha on October 21st, 2019

Innovation has penetrated in every sector including banking, initiating a new era of collaborations where lenders are getting involved in new partnerships with various market participants that include fintech, clients and employees. Cooperation has overpowered competition in fintech in banks in Nordea. An intelligence report titled, “Enterprise Tech Ecosystem Series: Nordea” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository

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Alternate payment solution threaten traditional method

Trending adoption of digital gateways and alternative payment solutions such as PayPal in financial sector threatens banks’ traditional profitability business model. Banks are facing pressure to adopt the digital trends to match their pace with the fast paced digital economy. Banks are overhauling their banking business solutions and models to stay up to date.

Changing trends such as reduction in cash supply chain activities has driven Nordea, enterprise tech ecosystem series, to establish a digital unit that aims to spread its digital agenda across the firm. Nordea’s digital banking movement has negatively impacted ATMs and cash services, whereas the number of digital e branches have increased. Migration to digital platform is expected to fetch greater cost savings which is projected to be further invested in digital development. Nordea open banking attracts developers to develop future APIs to further propel fintech ecosystem in Nordea.

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Innovation is susceptible to risk

Technological advancements in mobile technology act as catalyst in fintech development in Nordea. Swish is the e-commerce app launched by Nordea that enables millions of users to connect at the same time to perform real-time payments. Nordea Pay acts as contactless payment card that can be employed to pay for purchases across the globe. Artificial intelligence technologies such as rule-based AIs boosts internal processes of banks. Nordea is expanding its digital presence by using chat bots in customer service.

Fintech in Nordea is driven by major factors that include changing client behavior, technological advancements, regulations and new entrants in competitive landscape. Innovation brings about risk that further demands innovation to tackle the challenge of financial crimes and frauds. Nordea is also focused towards dealing with these challenges with substantial increase in investment and revamping of cybersecurity strategies.

Enterprise tech ecosystem of Nordea: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the Enterprise tech ecosystem of Nordea. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Enterprise tech ecosystem of Nordea. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on enterprise tech ecosystem of Nordea.

An insightful and deep-dive assessment of the competitive assessment of the Enterprise tech ecosystem of Nordea pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Enterprise tech ecosystem of Nordea. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

Enterprise tech ecosystem of Nordea: Research Methodology

Primary sources and secondary sources propel intelligence report on Enterprise tech ecosystem of Nordea that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.

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Joined: January 3rd, 2019
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