Swedbank Enters Finnish Financial Services Collaboration With Aktia
Swedbank entered a strategic partnership with Finnish financial group Aktia to expand its corporate offering in Finland.
The Swedish lender said the collaboration will give customers outside of Aktia's area of focus the opportunity to be served by Swedbank Finland, while those outside of Swedbank Finland's focus will have the opportunity to be served by Aktia.
"Swedbank's ambition is to continue to focus on large corporates, midcorps and institutions on the Finnish market, and to develop the business in these segments," it said in a statement, adding that the companies' offerings complement each other.
As part of the deal, Swedbank will wind down its cash-management and payment-services business in Finland. Corporate customers who use these services will be given the opportunity to be served by Aktia, it said.
The collaboration is expected to be operational by the end of 2024.
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