Mobile Banking

New self-service, security and mobile app features

The recent update of our Swedish internet & mobile banking dashboards uncovered a good selection of changes. Below are some of the most interesting introductions that were captured in the past quarter.

Security

Nordea has introduced the ability for customers to change their personal code for simplified login to the app, in contrast to several other banks in this region who have removed simplified login for apps in recent months. However, a Mobile BankID or a card reader is still needed to complete tasks such as authenticating payments in the app.

Länsförsäkringar now offers customers a temporary card block within the app. Activating this feature means that the card is still valid although it is restricted from purchases. The card holder can also deactivate this feature directly within in the app. Previously, we have only seen options to either block cards in certain regions or to block cards completely.

Features

Avanza has launched a new mobile app for iOS and Android with a fresh look and feel. The new features are focused around improving investments capabilities but also around providing better guidance, such as a new news feed and an improved search function.

Nordea has now launched the app Nordea Next in Sweden (previously introduced in Norway and Finland). The new experimental app includes features such as login using TouchID and travel insurance reminders. The reminders are geo-located and can for example be triggered when a customer is passing by a big Swedish airport or a train station.

Self-service

Swedish banks have continued to offer customers more self-service features within their apps. Länsförsäkringar is one example where customers are able to order a replacement card within the app. Once ordered, the card will be sent to your registered address. Danske Bank on the other hand has improved their secure messaging feature, where they have added the option to add attachments to secure messages in the app.

Sales

Swedbank has introduced the possibility for customers to make everyday purchases directly within the app. As a first step, customers can now subscribe to Spotify Premium, either for their personal use or as a gift card for someone else. We look forward to seeing if other banks will move in the same direction later this year.

Keen to stay up to date with changes in the Swedish digital banking market? Contact us today.

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