Sweden’s Nordea Finalizes Acquisition of Digital Pension Broker Platform Advinans

Nordea has completed the acquisition of the Swedish digital pension broker platform Advinans, following receipt of the regulatory approvals.

The acquisition reportedly “strengthens Nordea’s life and pension offering in Sweden and accelerates the bank’s strategic ambitions within savings.”

The acquisition of Advinans fits well with Nordea’s strategic plan “to grow in profitable business segments and extend its digital offering to corporate customers in Sweden.”

It will also “increase Nordea’s exposure to the Swedish pension segment.”

Going forward, Advinans will be “integrated into Nordea and operated under the Nordea brand.”

Snorre Storset, Head of Asset & Wealth Management at Nordea, stated:

“We are very pleased to finalise the acquisition and welcome our new colleagues and customers to Nordea. Our corporate customers in Sweden will benefit from Advinans’s advanced digital platform, which will simplify their pension administration. Combining the digital platform with Nordea’s pension offering will create an even stronger customer experience.”

Nordea has accelerated its ambitions “within savings and strengthened its customer offering in the growing life and pension market in the Nordics.”

Snorre Storset continues:

“Our strategic plan is to grow in profitable business segments and build scale in the savings business. Our recent acquisitions of Nordea Pension in Denmark (previously Topdanmark Life) and Advinans showcase our ability to deliver on our strategy and provide a broad product and service range to customers in different stages of their lives, through advanced digital platforms and a broad branch network.”

The acquisition, which was “announced on 19 January 2023, was subject to regulatory approvals.”

The approvals have now “been received, and Advinans will be part of Nordea as of today.”

The acquisition will have “no material impact on Nordea’s financial performance.”

As noted in the update, Advinans claims it is “a leading digital pension broker platform founded in 2016 that offers digital solutions for corporate administration, pension advice and employee benefits.”

The Advinans platform together “with its 40 fintech specialists with strong competence in digital development will now be integrated into Nordea.”

As mentioned in the update, the firm is operating as “a universal bank with a 200-year history of supporting and growing the Nordic economies – enabling dreams and aspirations for a greater good.”

Every day, they work to support their customers’ financial development, “delivering omnichannel customer experiences and driving sustainable change.”

The Nordea share is “listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges.”

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