Victor Ramström svea

Case: Sveas digital corporate bank for entrepreneurs

Have you ever experienced a process taking far too long and containing too many steps for you as a user? Becoming a bank customer, especially a corporate one, is generally such a process. Multiple forms to fill out, print and send, manual handling and assessment of your application, follow-up questions, the list goes on. The process is usually experienced as a frustrating eternity.

With the help of Roaring's services, Svea Bank launched a new digital corporate bank for entrepreneurs. The goal was to simplify and improve the everyday lives of small businesses so that they can spend more time on their core business and less on bank branch visits, bureaucracy and forms. With a fully automated and digitized flow, companies now have the opportunity to become customers in just 10 minutes with BankID.

"We saw the need for a simple and flexible digital corporate bank. With the help of Roaring, we've been able to automate the onboarding flow, which means that you can quickly and without hassle become a customer of the new digital corporate bank. No more forms to fill out or long processing times!" Says Victor Ramström, CEO at Svea Bank

The response from users has been very positive, with customer feedback indicating that the solution is as user-friendly as they could have hoped for.

"The digital bank has really exceeded expectations and the response from new customers and potential customers has been overwhelming. Among other things, we're getting feedback that it is easy to become a customer and use the bank, which was what we were looking for. But we aren't finished yet and look forward to further developing the process."

 

Victor says that it is not the products themselves that are innovative, but how easy they are to use and get started with in the new digital bank.

"These are standard services really. But that's what customers need. The difference is that we have digitized a previously slow and manual process and made those services available to more entrepreneurs. 96 percent of all companies have fewer than ten employees, so there must be a way to build a good bank for them. We think we have achieved that now."

"At a traditional bank, you often need to visit a bank branch to become a corporate customer and then the bank has a manual process to ensure you get access to the services you need. The process requires valuable time from the entrepreneur, costs the bank a lot of money and takes an unnecessarily amount of time to get started as a corporate customer. This is why we wanted to automate the entire onboarding flow. This frees up time to focus on helping the customer with more important things and the customer to focus on their core business." Victor says.

Svea Bank

Svea Bank is part of Svea Ekonomi, which today has more than 2,000 employees and revenues of more than SEK 2.7 billion. Svea Bank offers financial solutions and standard banking services for companies.

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