Skandinaviska Enskilda Banken (SEB) – Digital Transformation Strategies
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SEB Digital Transformation Strategies Report Overview
Skandinaviska Enskilda Banken (SEB) has been focusing on using artificial intelligence, open banking, machine learning, and data analytics to digitally transform its operations. The annual ICT spending of SEB was estimated at $365.4 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. SEB provides corporate and institutional banking as well as retail and SME banking. Corporate and institutional banking offers life insurance, pensions, shipping and real estate financing, research and strategy, transaction services, capital markets, investment banking, asset management, venture capital, and investor services. Retail and SME banking includes savings, lending, digital services, exchange and finance, overseas services, and wealth management.
Total ICT Spending 2023 | $365.4 million |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | AI, Cloud, Blockchain, Open Banking and Online Payments |
The SEB Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerators, incubators, and other innovation programs, technology partnerships, technology introductions, investments, and ICT spending among others.
Digital Transformation Strategies
SEB is collaborating with various third-party providers and offering other institutions’ products through its own channels and platforms. SEB is embracing open banking through its developer portal and offering APIs to external developers.
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SEB Technology Theme Focus
SEB is utilizing several emerging technologies including AI, cloud, blockchain, open banking, and online payments among others to enhance its operational and service capabilities.
SEB Technology Focus
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SEB Technology Initiatives
SEB has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, and technology investments over the last few years. For instance, in 2021, the company entered a strategic partnership with Google Cloud to leverage the latter’s cloud technology and create products and services.
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SEB ICT Spend by Function
- Datacenter
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
SEB ICT Spend by Function, 2023 (%)
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SEB ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
SEB ICT Spend by Channel, 2023 (%)
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SEB External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
SEB External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into SEB’s technology activities.
- Insights of its accelerators, incubators, and other innovation programs, and venture arm.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into SEB’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of SEB in 2023?
The annual ICT spending of SEB was estimated at $365.4 million in 2023.
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Which is the leading ICT spending category by function for SEB?
Network is the leading ICT spending category by function for SEB in 2023.
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Which is the leading ICT spending category by channel for SEB?
Internal development and maintenance is the leading ICT spending category by channel for SEB in 2023.
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Which is the leading ICT spending category by segment for SEB?
Software (including cloud SaaS) is the leading ICT spending category by segment for SEB in 2023.
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What are the key technology themes in focus for SEB?
The key technological themes in focus for SEB are artificial intelligence, machine learning, data analytics, open banking, and online payments.
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