The word “transformation” might lead you to think of a slow change into something slightly different than before. But when Chief Digital Officer Johan Bjurup talks about the digital transformation of Ikano Bank, he paints the picture of something entirely new.

Cloud-based and event-driven

The new platform is cloud-based and event-driven, which means transforming Ikano Bank from a traditional transaction-based operation to something that can be described as a “streaming bank,” based on the same technology as Netflix or Spotify.

This means that Ikano Bank customers have easier access to financial services and can start their loan application on one device and finish it on another with personalised interactions. The event-driven technology also enables much faster response and personalised communication with customers.

New solution makes credit easier in the UK

In May, Ikano Bank launched a new solution for consumer credit at IKEA stores and online in the UK. This is the first product based on the new technology platform, making life easier for both customers and co-workers at IKEA.

“With our new digital credit solution, customers get a response on a loan application in under 60 seconds, with no paperwork needed,” says Dominic Sweeney, Head of Marketing at Ikano Bank in the UK. “It has completely revolutionised IKEA’s credit offering in the UK, and the timing was perfect as the stores re-opened after the Covid-19 lockdown.”