A year worth celebrating for Ikano Bank
During 2021, we have delivered on our strategy to become a fully digitalised, sustainable bank with the launch of our first financial product on the new event driven, cloud-based technology platform. And with Ingka as part-owner opening up for new business opportunities and accelerates our transformation into the future of financial services.
Over the last two years, we have put a huge effort into creating an entirely new digital platform for our financial services. The cloud-based, event-driven platform, based on the same technology principle as streaming services such as Netflix and Spotify, will form a flexible, scalable and customer-centric basis for the Bank’s operations, today and for the future.
In May, we launched the first financial product on the new platform for IKEA in the UK. It is a digital loan service where customers can apply for credit in-store, online or through an app, and get the answer in less than 60 seconds. The result is a seamless end-to-end experience for the customer and less administration for IKEA co-workers.
Celebrating partnership with Ingka
In June, Ingka Group acquired shares in Ikano Bank corresponding to an ownership of 49 %. Ingka Group operates 392 IKEA stores including city stores, and 73 IKEA shops and IKEA planning studios in 32 countries and the new partnership will give opportunity to accelerate the transformation and develop new solutions together.
We of course wanted to celebrate this! IKEA & Ikano Bank Celebration Weeks was held during 5 weeks in October and November, filled with fun competitions, knowledge sharing and chances for IKEA and Ikano Bank co-workers to win prizes.
Back in the mortgage business with a fully digital solution
Starting November, we are happy to once again offer mortgages to our Swedish customers. As co-owner of fintech company Borgo, we give our customers access to a modern digital mortgage solution for one of the biggest decisions in your life, financing your dream home and we are the first mortgage provider to have an end-to-end digital application process. Offering a faster, simpler, and more personalised buying process.
75,000 new loan customers in Denmark
In October, the Bank entered into an agreement to buy a consumer finance portfolio of approx. 2 billion DKK in loan book value from Basisbank A/S in Denmark and we look forward to being able to welcoming close to 75,000 new customers. Following regulatory approvals which are expected to be finalised beginning of 2022, the deal will significantly grow the Bank’s consumer lending business in Denmark.
Enabling a healthy economy for the many people
The journey to make Ikano Bank a fully digitalised, sustainable bank for the many people continues. Over the next three years, we will launch new digital products on the B2C market in all our countries, and we are taking the next steps of transforming our B2B business in the Nordics. We will also continue to develop our business in an agile way, securing a strong performance in our operations. All with the goal to enable a healthy economy for the many people and businesses.