OP Pohjola has selected Digia as its partner for a system modernization project as part of a broader wealth management transformation.
Digia will deliver the STS solution built on Digia Financial Systems platform, bringing together securities order and trade processing, settlement and custody, as well as related reporting and management processes. The agreement covers both the implementation of the system and continuous services.
OP Pohjola aims to provide its customers with a seamless, omnichannel, and continuously evolving investment experience. The modernization supports the development of the company’s wealth management business, improves service efficiency, and strengthens readiness to meet increasingly stringent financial industry regulations and future changes.
“Our goal is to continue providing our customers with best-in-class investment services and an excellent customer experience in the years ahead. The modernization carried out together with Digia creates a strong foundation for the continuous development of our services,” says Markus Vartiovaara, Senior Vice President, Technology and Data, OP Pohjola.
Digia’s solution will increase automation, simplify the overall system landscape, and strengthen data management. Through open APIs, the platform integrates with OP Pohjola’s digital channels and other systems. The solution reduces manual and duplicate work, streamlines processes, and supports changing business needs.
“We are building a scalable platform for OP Pohjola based on domestic product development, supporting both current services and future business requirements. In this project, we combine Digia’s extensive experience in securities systems and Nordic market infrastructure with OP Pohjola’s strong expertise in financial services,” says Tuomo Niemi, Senior Vice President, Financial Platforms, Digia.
The modernization will be implemented in phases to ensure business continuity across securities services throughout the transition.
The first phase will focus on modernizing systems and services related to equity savings accounts. Subsequent phases will expand the solution to cover the management of all securities portfolios and reporting of customers’ total wealth. In addition, Digia will introduce processes for institutional and custody services, as well as functions that support trustee services for investment funds.
Tuomo Niemi
Senior Vice President, Financial Platforms, M&A and IT, Digia
Tel. +358 40 772 5582, tuomo.niemi(a)digia.com
OP Pohjola in brief:
OP Pohjola is Finland’s largest provider of financial services, with more than two million owner-customers and approximately 15,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Pohjola consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for over 120 years now. www.op.fi