Founded in 1996, Nordnet led the way in offering online banking solutions for trading securities in the Nordic market. By 2016, it had a customer base of over 640,000 and an operating result of 367 million SEK.
Nordnet faced challenging market conditions with rising competition, and a rapid expansion in product line, customer base and employee count. To address this, Nordnet set new business goals to increase its profitability and become a leader in innovation and customer satisfaction. Now it needed a partner to help it achieve them.
We devised a customized value creation plan to align Nordnet’s technological and business strategies, after assessing the current situation. Roadmap recommendations were implemented, including removal of outdated IT systems, solving competency gaps, and enhancing the development process. The potential usage of new technologies that could create compelling services and customer experiences were also explored.
Having made IT improvements and increased FTEs by 30%, Nordnet developed new product offerings that will impact customer NPS and revenue in 2018. Time-to-market shrank; product quality lifted. Now, Nordnet has the tools to make smarter choices in tech development, leading to cost savings and productivity gains.