Avanza Bank : Our presentation from Nordea's Innovation Seminar, November 2020 (17 MB)

Historically, financial services have been distributed through local bank branches.

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Signed terms are sent back

Register on web page

Terms sent by mail to home address

Funds available	Deposit can be made	Welcome E-mail sent	Back-Office sets up account
for trading

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BankID has massively reduced time and friction to open an account.

98.7 % of every citizen between 21 and 50 has BankID

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Incumbent Bank Inc.

Incumbent Bank Inc.

Incumbent Bank Inc.

Then Incumbent Bank Inc.

Incumbent Bank Inc.

Incumbent Bank Inc.

Incumbent Bank Inc.

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Payments

Credit card

Savings account

Mortgage

Mutual funds

Stock trading

Pension savings

Now

We have to prepare for a world in which:

Mortgages are	Credit transfers between
signed digitally.	banks are made in real-time.

Customers have a right	Pension accounts can finally
to data portability.	be transferred cheaply.

Payment accounts can be aggregated, and payments initiated, by any interface.

Data from all financial products can be easily shared with third parties by customer consent.

All of this will massively contribute to reduced friction when changing financial service providers.

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Finance is being re-bundled in different ways, by both Big Tech, FinTech and Traditional Finance…

Google

Goldman Sachs

Curve

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So how is Avanza equipped to deal with the future of financial services?

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Our basic product line

Stock trading

Mutual funds

Retirement plans

Savings accounts

Mortgages

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Leveraging our superior customer experience,

we become the perfect partner for product challengers

Exclusive Mutual Fund

New actively managed tech fund by renowned fund mangers TIN.

Third party savings

High yielding savings accounts with a number of partner banks.

Innovative mortgages

Our partner Stabelo delivers low interest mortgages through our interface.

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New fund launching today!

An actively managed Small Cap fund managed by Fredrik Skoglund who previously managed the very successful Länsförsäkringar Small Cap fund.

This is a partnership with his newly founded independent fund management company.

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Innovation is about organisation.

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In-house development by 24 teams in a scalable team structure

Customer journey

Activate	Follow &	Find &	Transfer	Design
	Improve	get help	funds	system

Products

Interest	Mutual	Trading	Trading	Endow-	Pension	Mort-
data &
bearing	funds		ment		gages
	Decision-
products			insurance
		support

Business platform

BO	Become a	Being a	Cash	Pension
trans-	customer	customer		platform
formation

Technology platform

User	Data	Delivery	Open	Trading	Service	Perfor-
interface	platform	platform	banking	platform	platform	mance
platform						testing

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The typical Avanza development team

We have 24 cross-functional development teams in an organisational structure that lets them gather expertise in their domain.

Innovation, business development, and maintenance are done inside the teams.

They define their own mission and sets their own goals, which link back to the company's overall vision and goals.

Business and IT are the same thing.

Back-end

Product specialist

QA

Back-end

⚖

Product owner

UX

Front-end

Front-end

Designer

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Mint

Our internal design system lets us move fast and still keep our look and feel harmonised across features and products.

Progressive Web Application (PWA)

We have chosen this technology to allow us to be organised in the way we want and at the same time serve 3 different platforms (iOS, Android and Web).

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Innovation is about customer focus.

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We innovate together with our customers.

Our customers can sign up as test users to early releases of new functionality and provide feedback.

We also meet with hundreds of customers for interviews and user tests each year.

And of course, tens of thousands of twitter feedback, app reviews and customer service messages are also a vital part of the development feedback.

"Feedback Buddy"

Our feedback system will keep our development teams close to the customers.

Beta experience

Customers can sign up

for beta functionality inside the app. This is an example of a beta experience for goal savings functionality.

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She wants a job to get done that an advisor is one of many solutions for.

What jobs does she hire an	I want an advisor
advisor for?
How can we solve them
digitally?

UX

Customer

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Innovation is about culture.

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Self selection

During our re-org to the current structure, all developers, designers and UX could chose which teams they wanted to belong to.

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Why?

How?

What?

Create a better future for

millions of people

Cheaper, Better, Simpler

The best tool to help you succeed

with your personal finance

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Brainy Days

Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.

Brainy Days 2019

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Brainy Days

Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.

Brainy Days 2019

Brainy Days from 3 weeks ago

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Brainy Days

Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.

Feature to be released this Friday

Happy campers on twitter!

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Our innovation success factors

Customer

OrganisationKultur Kundfokus InnovationCulture

focus

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Currently taking 19.4 % of net inflow to savings market (with 5.4 % market share)

25 %

20 %	19.4 %

15 %

10 %

5 %	5.4 %

0 %

Q1/13

Q3/13

Q1/14

Q3/14

Q1/15

Q3/15

Q1/16

Q3/16

Q1/17

Q3/17

Q1/18

Q3/18

Q1/19

Q3/19

Q1/20

Q3/20

		Avanza's share of Swedish savings market		Avanza's share of net inflow to Swedish savings market (rolling 12 months)

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Still a challenger in the Swedish market

5.4 %

0.6 %

Swedish savings market	Swedish mortgage market
9 000 billion sek	3 600 billion sek

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Sweden's most satisfied savers - 10 years in a row!