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Nordea Bank Wins Contract for State Financial Transactions

Nordea Bank has won in the bidding for a contract to handle financial transactions of the Finnish state. For the coming four years, the banking concern will handle all of the state's outgoing payments, and most of its incoming money.

The Finnish state has about 35 million financial transactions each year, involving the transfer of a total of EUR 150 euros. Government officials hope that increased electronic invoicing will lead to significant savings in the coming four years.

Bidding for the financial transaction contract began late last year. The coming four-year period is the second time that Nordea is handling state transactions.

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