Nordea Bank Course Work

Published: 2021-07-08 20:10:04
essay essay

Category: Internet, Banking, Time, Customers, Technology, Innovation, Vision, Advancement

Type of paper: Essay

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When a bunch of major banks in Scandinavia decided to merge and form the establishment now known as the Nordea bank, they had a clear vision in their minds. The vision was to become the best bank possible through their own hard work, through the way that they treat their customers, how easy they can make things for their customers, so that the customer will not have to think twice before deciding who their favorite bank is.

And this is indeed what Nordea bank has achieved. In sharp contrast to the other banks, in their main branches even on a busy day in a big city, there are no more long queues at their counters, no more having to wait for hours to complete a given transaction. When other banks struggle with their customer management, Nordea bank with the help of high technology and simple logic is clearly the front runner when it comes to pleasing their customers.

This was made in a large way by the foresight of Mr. Bo Harold, who has been the chief architect behind the various innovations behind the working of the bank. As early as in the early 1980’s Harold understood how important internet banking could turn out to be. And he was successful in leading the pack from such an early stage that by the time Internet banking could catch up with the rest of the banking world, Nordea was literally light years ahead and there was no looking back.

Indeed, the biggest reason for the easy movement of customers in the bank’s ‘physical locations’ is the advancement they have made in the distance banking primarily Internet banking. This allows the bank to conduct the lion’s share of its transactions online while at the same time make it much easier for a customer to use the bank.
An unbiased customer when asked to choose among the given banks will not have a problem choosing Nordea because of the customer-centered innovations that Nordea has brought about, and with the technological advancement that they have shown, it is going to an uphill task for any other bank in the Scandinavian area to try and compete with them at the level they are at now.

Nordea’s biggest competency is that it takes efforts to better its business each year and work their hardest at satisfying their customers. Their labors keep bearing fruit as Nordea’s fame keeps growing which can be easily understood by the number of awards they keep racking by the year.

Nordea makes sure that their customers not only get the right advice but also they must be confident that the treatment they get from Nordea is better than what they get from any other bank. Nordea understands the importance of being competitive, and when they execute their ideas with professionalism they earn trust from their customers and are steadily climbing to the top of the competition. Indeed Nordea was ranked the best overall bank for the second consecutive year by annual surveys conducted by Norsk Familieøkonomi, a European organization. The reforms that Nordea undertakes are very much sustainable, because they concentrate on customer satisfaction and how to use technology to intensify their work efforts.


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