Magazine article Global Finance

Universal Ambitions

Magazine article Global Finance

Universal Ambitions

Article excerpt

Vaidas Zagunis, member of the management board at SEB Lithuania and its head of retail banking, talks with Global Finance about the Swedish bank's deployment of digital products to support its universal banking stategy.

Global Finance: SEB is a universal bank in your headquarters country, Sweden, and in the Baltic states: Estonia, Latvia and Lithuania. What was the original impetus for the strategy?

Vaidas Zagunis: Universal banking services form a part of our strategy, Vision 2025, which defines the strategic priorities for the entire SEB Group. We aim to be the leading Nordic bank for corporations and institutions and the top universal bank in Sweden and the Baltic countries. Our initial strategic ambition in the Baltic states was to become the home bank with a full-service offering for private individuals, corporate customers and financial institutions. Focus on a wide range of financial services helped us grow into the largest commercial bank in Lithuania.

GF: SEB won for corporate and consumer digital services in all three Baltic countries. How does SEB develop and refine digital strategy at the country level?

Zagunis: Customer acceptance of technology-based innovations is relatively high in the Baltic states, e.g., up to 99% of daily banking operations by customers of SEB Lithuania are already conducted in self-service mode. Digital banking development decisions in the Baltic states are made at the Baltic level, and usually these initiatives in each of the three countries are tailored and implemented simultaneously. Thus, we are able to reduce our digital banking products' time-to-market and to optimize financial and human resources we allocate for it. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.