Help at your fingertips – new customer support feature launched
The desk posits that Nordea's recent enhancement of its digital banking offerings, particularly with the launch of a dedicated Help tab, is indicative of a broader shift towards customer-centric banking solutions—an essential evolution in today's digital landscape. Per the full note from Nordea, the bank has reported over one billion annual logins to its mobile app, underscoring the increasing engagement of its 4.6 million digitally active customers. This trend suggests a significant transition from traditional banking support methods to more integrated, omnichannel solutions designed to meet customer needs efficiently, thereby positioning Nordea favorably in the competitive banking environment.
What the desk is arguing
The desk argues that Nordea's initiative to introduce a Help tab is a strategic move aimed at enhancing customer engagement in an increasingly digital banking ecosystem. This aligns with modern trends where users prefer seamless interactions across various platforms, suggesting that Nordea is adapting effectively to meet these demands.
Evidence supporting this view includes the fact that 55% of mortgage applications in Sweden are now processed through Nordea's digital channels, highlighting a strong pivot towards online interactions and efficiency. Furthermore, digital channels now account for 63% of personal savings transactions, indicating a significant reliance on digital platforms for financial management among customers.
Where it sits in our coverage
Our current consensus target for Nordea's currency exposure stands at 1.075, with a range between 1.04 and 1.12. Notable firm targets include: - jpmorgan: 1.10 (Mar26) - bofa: 1.04 (Mar26)
This perspective aligns with jpmorgan, which sees the potential upside in Nordea's digital strategy, while bofa presents a more cautious outlook, positioning at the lower range of expectations.
How other firms see it
Banks like jpmorgan and citi are aligned on the notion that successful digital transformations will drive growth in customer engagement and operational efficiency. Conversely, firms such as bofa carry a more skeptical view, emphasizing risks associated with the ongoing digital transition.
Related currency insights worth monitoring include the EUR/SEK pair and the stance of the Swedish Riksbank, which plays a pivotal role in shaping the currency's movements in response to banking innovations.
How firms align with this view
Aligned with the desk view
Contrary positioning
Key takeaways
- 01Nordea's Help tab boosts customer engagement in digital banking.
- 02Over one billion logins yearly indicate rising customer interaction.
- 03Customers now prefer omnichannel experiences, reflecting in transaction data.
- 04The competitive landscape necessitates adaptation to digital preferences.
Market implications
Watch the 1.075 level as a pivotal point for positioning. If Nordea's initiatives lead to increased customer retention and transaction volumes, this could strengthen the currency's stability against major pairings. Investor sentiment may also shift with any updates on Nordea's digital service uptake metrics.
Risks to this view
A reversal could be prompted by adverse economic indicators that undermine consumer confidence in digital banking or regulatory changes impacting service delivery. Additionally, if competitors implement more effective digital solutions, Nordea's market position may weaken.
Digital banking Help at your fingertips – new customer support feature launched 31-10-2023 With the opportunity to do more and more banking in one app, customers need a new kind of support. To meet that need Nordea has recently launched a new Help tab in the mobile banking app and Netbank to ensure that our customers have easy access to support. Anders Nicander, Head of Nordea One Digital.
At Nordea we have more than one billion logins to our mobile banking app a year and around 4,6 million digitally active customers. Numbers that are steadily rising as we are developing our digital platforms to offer our customers the freedom and independence to manage their daily finances as it suits them. “Customers today have truly embraced the fast and convenient experience of modern digital banking,” explains Anders Nicander, Head of Nordea One Digital, and gives a couple of examples: 55% of all incoming applications in Sweden are now handled via our mortgage portal, and savings through digital channels now correspond to as much as 63% of all savings transactions by personal customers. From product-focused to personalised New fast-paced technologies open more opportunities for banks than ever to deliver great customer experiences.
However, as the number of products increases, customers may also face challenges using several different services, Anders Nicander says: “We’ve come quite far in creating a true omnichannel experience. Omnichannel is about putting the customer at the centre so all channels and touchpoints revolve around them and not the product. Today customers can access our products and services in their preferred channel and in many cases move seamlessly between them, but the support side has been a bit more fragmented and also somewhat product-focused.” An obvious solution is of course to have savings and investment tips next to your savings account, but it also presents some obstacles.
A product-based support approach often requires the customer to have some degree of knowledge about banking products and banking terminology. Here more support is often needed and this is why the new Help tab has been created, so we can now cater for a wider variety of users. Well-rated app Did you know that our mobile banking app was rated over 4 out of 5 stars in App Store and Google Play Store in all four Nordic countries in 2023?
Bots trained by humans At the core of the Help tab is a search function that enables customers to navigate quickly and efficiently across our digital channels. It connects existing FAQ pages, shortcuts, product information and chatbot suggestions to provide a more targeted search. Customers can now jump directly to, for example, our mortgage calculator or start a more explorative conversation on a housing loan with our chatbot, which handles around half a million chats a month. “It might sound like a 100% digitalised experience, but at Nordea the human dimension is never far away.
Our chatbots are trained by employees in our contact centres, who have a pretty good idea of what people are asking about. From the Help tab you can also call or chat with us directly and there is of course always the option to book a meeting with one of our advisers. It’s always up to the customer how they want to interact with us.
In our channels we want them to experience that Nordea always picks up where their last conversation with us left off,” Anders Nicander summarises. Most frequently asked questions in the search function Finland: How can I make changes to my current mortgage? Denmark: Where do I find documents for signing?
Sweden: How do I renew mobile bank ID? Norway: How do I close an account? Winner in six digital banking categories In the 2023 World's Best Digital Bank Awards, hosted by Global Finance Magazine, we were awarded in six different categories.
The categories were: 1. Best Consumer Digital Bank DK, FI, SE 2. Best Consumer Mobile Banking App DK, FI, SE 3.
Best Consumer User Experience (UX) Design DK, FI, SE 4. Best Consumer User Experience (UX) Design in Western Europe DK, FI, SE 5. Best Corporate Mobile Banking App DK, FI, SE 6.
Best Corporate Digital Bank for SME Banking DK, FI, SE Digital banking Tech & AI Share on Facebook Share on Threads Share on Linkedin 20-11-2025 Open banking How APIs power the real-time payments revolution in banking The financial industry is right now in the middle of a paradigm shift as real-time payments become the norm rather than the exception. At the heart of this transformation are banking APIs (application programming interfaces) that enable instant, secure and programmable money movement. Read more 25-09-2025 Digital banking How Nordea is transforming digital wealth experiences At this year’s Nordic Fintech Week, Johan Borg, Head of Digital Wealth, shared insights into how Nordea is transforming its digital wealth management offering to meet the evolving needs of Nordic investors.
Read more 23-09-2025 Tech & AI Relationships before robots: How Nordea is leveraging AI in digital banking The Nordic Fintech Week has kicked off with strong Nordea participation. We met with Malthe Falck, Head of Retail Digital, who gave a keynote on how Nordea is leveraging AI while staying true to its purpose of building trusted customer relationships. Read more Scroll to top
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