Nordea has completed the acquisition of Swedish digital pension broker platform Advinans after receiving regulatory approval.

The financial services company said that the acquisition would strengthen its life and pension offering in Sweden, and accelerate its strategic ambitions within savings.

Advinans is a digital pension broker platform founded in 2016 that offers digital solutions for corporate administration, pension advice and employee benefits.

Its platform, alongside its 40 fintech specialists, will now be integrated into Nordea and operate under the Nordea brand.

Nordea stated that the acquisition fits well with its strategic plan to grow in profitable business segments and extend its digital offering to corporate customers in Sweden.

It also expects it to increase its exposure to the Swedish pension market.

“We are very pleased to finalise the acquisition and welcome our new colleagues and customers to Nordea,” commented Nordea head of asset & wealth management, Snorre Storset.

“Our corporate customers in Sweden will benefit from Advinans’s advanced digital platform, which will simplify their pension administration.

“Combining the digital platform with Nordea’s pension offering will create an even stronger customer experience.

“Our strategic plan is to grow in profitable business segments and build scale in the savings business. Our recent acquisitions of Nordea Pension in Denmark (previously Topdanmark Life) and Advinans showcase our ability to deliver on our strategy and provide a broad product and service range to customers in different stages of their lives, through advanced digital platforms and a broad branch network.”

The acquisition was initially announced on 19 January 2023 but was subject to regulatory approvals, which have now been received.

Nordea stated the acquisition will have no material impact on its financial performance.

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