Nordea joins groundbreaking technology partnership

Published 

Nordea has joined the international partnership Distributed Ledger Group (DLG). The purpose of the partnership is to develop common standards and applications for using distributed ledger technology as the next generation financial services transaction network. 25 international banks, including Nordea, Citi, Deutsche Bank, HSBC and Goldman Sachs, are collaborating with the company R3 in this partnership.

A distributed ledger, like blockchain, is a technology that shares information between all parties on a network. Transactions are verified and recorded in the ledger through a process of consensus, which makes the transactions encrypted, incorruptible and much faster. This technology has the potential to completely transform the financial industry and can be applied in for example FX trading, payments, issuance of securities, regulatory reporting and compliance.

The idea of the partnership is to explore distributed ledger technology, with the aim of developing commercial applications as well as establishing standards and protocols for the global financial services industry.

“We constantly strive to improve our customers’ experience with us, and as the largest bank in the Nordics it is natural for us to join an international partnership to explore new ways of banking,” says Erik Zingmark, Deputy Head of Nordea Transaction Products and member of the DLG steering committee.

Several Nordea experts will join the different work streams to collaborate on research, experimentation, design and engineering of this emerging technology to meet requirements for security, reliability, performance, scalability and compliance.

“New technology drives a fundamental change of consumer and corporate behaviour and demands. We want to build the best digital experiences for our customers, and we are right now investing heavily in new IT systems and promising new technology in order to be competitive in the new banking landscape. That is why this is a highly relevant partnership for us”, says Erik Zingmark.

Most recent episodes

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests consider...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY’s distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event,...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI’s Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI’s Editor, Eleanor Hill, to explore the very latest treasury trends – and to discuss how smart treasurers can get ahead of the game by ...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI’s Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25

Tax Spotlight: How the OECD’s Two-Pillar Solution Impacts Treasury

Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms....

24:00