A word from the CEO

As the leading digital bank for savings and investments we want to offer our customers a world class digital experience. Our vision is to create a better future for millions of people. With us, customers should get a better return on their savings than with any other bank – due to:

  • Lower fees
  • Better digital decision-making support
  • A broader product and service offering

To be price leader, and at the same time create shareholder value through strong and long-term profitability, our focus is to have Sweden’s highest customer satisfaction among savers and the lowest cost per transaction and customer in the industry. Long term, there is a correlation between customer growth, and growth in savings capital and revenues. Our strategy is therefore to continue to digitise our offering and internal processes, without compromising on quality or service. With the market’s most modern IT system we can handle sharply increasing volumes in both customers and savings capital.

New regulations with increased requirements for consumer protection and transparency will put stricter demands on operators in the financial industry and increase costs. This represents a particular challenge for traditional banking advice activities. We anticipate financial operators to counteract this challenge by replacing personal advice with digital decision-making support. Savers' increased understanding of the fees impact on their long-term savings also increases the demand for digital decision-making support. Areas where Avanza has a strong competitive advantage and where we have good potential to strengthen our position and continue to grow.

Our prioritised areas

Maintain a strong growth rate and reach broader customer segments

This will be done by continued high quality and service to our customers as well as price leadership and a world class digital experience on both the website and in the mobile. We will increase the service to our private banking customers and digitise the process for occupational pension companies to become customers.

Further improvements to digital decision-making support

Forthcoming regulatory amendments with focus on consumer protection will increase transparency requirements, while at the same time consumers are becoming ever more cost conscious. This is expected to increase the demand for digital decision-making support.  

Enhance internal efficiency to improve scalability and quality

In order to keep being able to offer our customers the market's best savings services at the market's lowest prices and concurrently create value for our shareholders, we need to be more cost-effective than any other bank on the market. With continued focus on efficiency enhancements and improved scalability, we can achieve decreased unit costs expressed as cost to savings capital ratio. 

As new CEO, I look forward to continuing to improve the great potential of Avanza and to develop our offering and our business further.

Stockholm, 2017

Johan Prom

Mail: johan.prom@avanza.se
Mobile: +46 70 689 23 46