The Swedish firm will continue to build upon the Lumera platform, introducing an all-digital, low-fee product offering for the Finnish Savings and Investment Policy (SIP) account.
The business partnership between the companies now extends to four Nordic countries, and will enable Nordnet to expand its insurance savings reach further.
The pan-Nordic digital platform for savings and investments has aimed to provide private savers with the same tools and information as professionals across its regions of operations in Sweden, Denmark, and Norway, before now advancing to Finland.
Nordnet’s SIP offering in Finland is particularly attractive as it enjoys tax exemptions on capital gains until withdrawal, allowing untaxed reinvestment of returns and dividends. This solution stands out due to its flexibility, a broader investment universe, competitive pricing, and a fully digital experience, providing Finnish savers with a unique and advantageous solution.
Lumera focuses on the digital transformation of the European life and pensions industry. They introduce advanced technologies such as AI-powered automation and business analytics to streamline policy administration, with a mission to revolutionise the industry.
Per Lindberg, Head of Life and Pensions, Nordnet said, “Our partnership with Lumera was instrumental for enabling this initiative. Lumera’s flexible system platform and their professional team enable us to adapt our product offering to new geographies based on a single, consolidated IT platform. Nordnet’s SIP account offering stands out in the market in terms of flexibility, pricing and digital experience, and I am positive that our launch will mean a difference for Finnish savers.”
Mats Lillienberg, Group CEO at Lumera, said, “Nordnet’s trust in Lumera and our policy administration platform to support their entry into Finland’s growing SIP market testifies to the strength and durability of our partnership. We very much look forward to continuing working with Nordnet as they extend their leading insurance savings offering across the Nordics.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global