Nordea

Nordea x ITMAGINATION

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My team and I have been deep diving into the Banking industry and talking to a few people about their goals. Below are the most innovative product plans we saw.

SME/SMB Digital Banking Platform

  • Develop a modern, user-friendly digital banking platform that enables customers to access their business accounts, manage transactions, and perform various banking tasks with ease
  • Expense Management, including Payroll Management Solutions, comprehensive Expense Management for SMEs, and flexible Loans & Factoring Services tailored for SMEs
  • Tax, Regulatory, and Compliance solutions including Automated Tax Filing and Management Services and streamlined Regulatory Reporting for SME compliance
  • Custom Identity Verification, KYC / KYT, and AML Solutions
  • Comprehensive Business Reporting Tools including Cashflow Management, P&L, and comprehensive analytics
  • Enhance security and reduce fraud with advanced data analytics and machine learning algorithms

‍Learn More About Our SME/SMB Solutions Development Services

Loan Origination & Underwriting (B2B And/Or B2C Focused)

  • Streamline loan origination and underwriting with automated processes and real-time data analysis
  • Improve risk management with predictive analytics and machine learning algorithms
  • Enhance customer experience with faster loan processing and decision-making

Wealth Management & Investment Services

  • Provide personalized investment recommendations and portfolio management services with real-time data analysis and predictive analytics
  • Enhance customer engagement with digital tools and real-time information
  • Improve operational efficiency with automated processes and real-time monitoring

AI-Powered Chatbot

  • Develop an AI-powered chatbot that enables customers to get answers to their banking questions and perform transactions through natural language commands
  • Enhance customer experience with personalized recommendations and proactive notifications
  • Improve operational efficiency with automated responses and reduced call center volume

Embedded Finance & Payment Solutions

  • Integrate embedded finance and payment solutions to streamline financial transactions within your platform
  • Offer seamless, in-app payments and financial services to enhance user convenience and engagement
  • Boost revenue and customer loyalty with flexible payment options, instant transfers, and personalized financial products
  • Build real-time and cross-border payment systems to enable faster, more secure, and cost-effective transactions
  • Read more about our Embedded Finance Solutions development services

Digital Identity Verification

  • Develop a digital identity verification system that enables customers to securely verify their identity for various banking services.
  • Enhance security and reduce fraud with advanced biometric and AI-based authentication methods.
  • Improve customer experience with simplified onboarding and reduced wait times.

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Thank you for your interest in AI-Powered KYC & Onboarding Solutions on Azure

Dear Jack,

Thank you for reaching out with your interest in developing a comprehensive AI-driven onboarding and KYC solution for corporate banking on the Azure platform. We understand that as VP of KYC AML at Nordea, you’re aiming to streamline regulatory compliance, accelerate customer onboarding, and ensure robust risk management—all while leveraging the scalability and advanced AI services of Microsoft Azure.

Key Challenges You’re Facing

  • High-volume KYC assessments across jurisdictions with varying regulatory requirements.
  • Manual document intake, validation, and approval workflows leading to delays.
  • Risk scoring and screening that must balance accuracy, auditability, and speed.
  • Seamless integration with existing core-banking and customer-facing systems.
  • Ensuring end-to-end security, compliance, and traceability in every step.

Why ITMAGINATION & Azure for Your KYC Solution

As a Microsoft Gold Partner, we’ve delivered Azure-based AI & ML solutions that transform legacy banking processes into automated, intelligent workflows. Here’s what sets us apart:

  • Deep Azure AI/ML Expertise: We build on Azure Cognitive Services (Form Recognizer, Cognitive Search), Azure Machine Learning, Bot Service, and OpenAI Service to automate document processing, semantic search, and conversational interfaces.
  • Proven FinTech & Corporate Banking Experience: We’ve implemented KYC and transaction banking solutions for leading financial institutions, combining domain knowledge with best practices in AML/CTF compliance.
  • Robust Integration Capabilities: Our teams integrate Azure Logic Apps, Durable Functions, and API Management to connect your core banking systems, CRM portals, and risk engines.
  • Security & Compliance: Leveraging Azure Key Vault, Purview, and Sentinel, we ensure data encryption, lineage tracking, and continuous monitoring to meet stringent regulatory standards.
  • Scalability & Automation: We implement MLOps practices on Azure ML and Kubernetes for model lifecycle management, enabling continuous improvement and adaptability to new threats or regulations.

Relevant Case Studies

Proposed High-Level Approach

  1. Discovery & Design: Map your current KYC and onboarding processes, identify regulatory checkpoints, and define data flows with Azure-native services.
  2. Document Intake & OCR: Deploy Azure Form Recognizer to extract identity documents and financial statements, feeding results into Azure Cognitive Search for indexing and validation.
  3. AI-Powered Risk Scoring: Train custom risk models in Azure ML or leverage OpenAI embeddings for advanced entity resolution and suspicious activity detection.
  4. Workflow Orchestration: Use Azure Logic Apps or Durable Functions to orchestrate multistep approvals, escalations, and audit logging.
  5. User Experience: Implement a self-service portal with Azure Bot Service or Power Apps for customer identity verification, status tracking, and notifications.
  6. Security & Governance: Integrate Azure Key Vault for secrets management, Purview for data governance, and Sentinel for real-time security monitoring.
  7. Deployment & Continuous Improvement: Adopt MLOps pipelines in Azure ML, CI/CD for infrastructure as code, and telemetry dashboards to refine models and workflows over time.

By combining our banking domain expertise with Azure’s comprehensive AI & compliance ecosystem, you’ll achieve significant reductions in manual effort, faster time-to-onboard, and a fully auditable KYC process that scales with your volumes.

We look forward to partnering with you to build a future-proof onboarding solution tailored to Nordea’s needs. If there are specific systems you’d like to integrate, or unique risk rules you must enforce, please let us know so we can refine the approach accordingly.

Thank you again for considering ITMAGINATION. We’re excited about the opportunity to support Nordea on its journey toward AI-enabled, compliant corporate banking operations.

Let's talk about your goals!
Maciej Gos

Maciej

Chief Architect

Hisham

Head of Marketing

See what some of our clients have to say

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For over 9 years, we’ve partnered with ITMAGINATION for numerous projects. What impresses me most is their consistent reliability.
Jarek Dąbrowski
Senior Technology Director & Board Member
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What sets our relationship apart is the partnership approach; it's not just about staff augmentation. Over the past years, we've built a level of trust that allows us to work seamlessly.
Dennis Priess
Head of Mobile Engineering & Quality Assurance
David McGowan
SVP, CIO of Global Commercial Services. Previously CTO at Kabbage, Acquired by American Express
"Kabbage’s (Acquired by American Express) partnership with ITMAGINATION has been instrumental in completing our goals across numerous major projects."
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Małgorzata Dąbrowska
Chief Operating Officer & Board Member
"ITMAGINATION has been cooperating with BNP Paribas since 2012, completing many initiatives with the bank, providing and implementing software that was developed especially for our needs."
Dorota Poniatowska-Mańczak
Chief Innovation Officer
"We have been cooperating with ITMAGINATION since 2016. The main project created by ITMAGINATION for our company was implemented very quickly – in only 13 months."
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David Wood
Managing Director
"ITMAGINATION's team was able to understand our business needs and set up a development team quickly and to a high quality."
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Michael Wolf
Chief Technology Officer (CTO)
"The  team has been great to work with, they are direct communicators, open to  feedback and work hard to build a great product."
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Robert Pernak
Pricing Manager
"ITMAGINATION's team clearly understands our needs, have top-notch expertise both in our sector (FMCG), as well as the technologies used - Business Intelligence Data Warehousing."
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Nordea
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Someone from our team will reach out soon!

We can help in these areas and more:

Digital Engineering
Data Modernization
AI / ML Solutions
Development Nearshoring
Maciej Gos

Maciej

Chief Architect

Hisham

Head of Marketing