Svea Bank partnered with Roaring to launch a digital business bank for entrepreneurs, with the aim of simplifying the onboarding process. By automating the flow, customers can become bank customers online in less than 10 minutes using BankID. The response has been positive, with users experiencing the solution as both user-friendly and efficient. Svea Bank plans to further develop the process to better meet the needs of small businesses. The focus is on digitalising and streamlining the previously slow and manual process, making banking services easily accessible to entrepreneurs. This automation saves both time and resources for the bank and its customers.

Have you ever experienced a process taking far too long and involving too many steps for you as a user? Becoming a bank customer, especially a business customer, is one such process. Several forms need to be completed, printed and sent, followed by manual handling and assessment of your application, follow-up questions, and the list goes on. The process is often time-consuming and tends to become cumbersome.

With the help of Roaring’s services, Svea Bank launched a new digital business bank for entrepreneurs. The aim was to simplify and improve everyday life for small business owners so that they can spend more time on their core business and less on branch visits, bureaucracy and forms. With a fully automated and digitalised flow, businesses now have the opportunity to become customers online in less than 10 minutes using BankID.

- We saw the need for a simple and flexible digital business bank. With the help of Roaring, we have been able to automate the onboarding flow, which means that you can quickly and easily become a customer of the new digital business bank. No more forms to complete or long processing times,” says Victor Ramström, CEO of Svea Bank.

The response from users has been very positive. Feedback from customers shows that the solution is as user-friendly as they could have hoped for.

- The digital bank has truly exceeded expectations, and the response from new and prospective customers has been overwhelming. Among other things, we receive feedback that it is easy to become a customer and use the bank, which was exactly what we were aiming for. But we are not finished yet and look forward to developing the process even further.”

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

- These are essentially standard services. But they are what customers need. The difference is that we have digitalised a previously slow and manual process and made these services available to more entrepreneurs. Ninety-six per cent of all businesses have fewer than ten employees, so there must be a way to build a good bank for them. We believe that we have now succeeded in doing that.

- In a traditional bank, you often need to visit a branch in order to become a business customer, and this is then followed by a manual process in which the bank ensures that you gain access to the services you need. The process requires valuable time from the entrepreneur, costs the bank a great deal of money, and means that it takes unnecessarily long to get started as a business customer. That is why we wanted to automate the entire onboarding flow. It frees up time for us to focus on helping the customer with more important things, while the customer can focus on their core business,” says Victor.