Bank employees are unemployed because of robots 2
Nordea Bank CEO Casper von Koskull predicts that the financial industry could lose half of its workforce within the next decade.
Many people in the financial industry are still hesitant about this view.
Outside a branch of Nordea Bank (Sweden).
Last quarter, Nordea’s costs decreased by 11% compared to the same period last year.
SEB, Handelsbanken and Swedbank all admit adding technology is key to growth.
But now, many Swedish banks are trying to automate more and faster.
Handelsbanken was hesitant about automation.
Handelsbanken will reveal its plans in the third quarter.
At Swedbank, CEO Birgitte Bonnesen is also looking to automate more services, since taking office in 2016. They are currently focusing on automating the mortgage loan application process.
However, to date, Nordea is still the only Swedish bank to drastically reduce human resources.
Von Koskull said that finance is not the only industry affected.
