Money laundering and terrorism not only harm the public as a whole but can also damage the stability and reputation of the financial sectors. It is obviously in the financial industries’ and society's best interests that financial institutions take all reasonable measures to prevent money laundering and terrorist financing.

In light of our changing environment, it is of great importance for us as a financial institution to continually evaluate the strength and relevance of our existing policies, procedures and employee training programs. And, if necessary, update them to address these changes.

Swedbank has processes, internal rules and support functions in place to ensure it complies with applicable laws and regulations on money laundering and terrorist financing. The key to this work is knowing our customers and understanding where their money comes from and what they want from their relationship with the bank.

Efforts to counter money laundering and terrorist financing are based on the following processes:

  1. Risk assessment
  2. Know the customer
  3. Continuous monitoring
  4. Audits
  5. Reporting  

To address availability, we have created a Channel Strategy which is linked to our Wanted Position.

The Wanted Position outlines the overall strategy and articulates the target position for the Bank going forward. The Channel strategy describes how Swedbank will reach the Wanted Position from a channel perspective and how we will deliver our customer services in a way that makes customer choose Swedbank as their primary financial access point.

Within the Channel Strategy, the following strategic initiatives has been launched in order to meet customer needs on availability and accessibility: 

  • Excellent digital experience – encourage daily digital customer interactions by offering the most attractive financial access point for our customers
  • Channel transformation – making the bank stay relevant by delivering a great customer experience, keeping customer business activity and becoming more efficient in a setting where the bank´s physical channels will complement the digital channels