We talk to the private bank about its achievements in the WealthBriefing Europe Awards.

Lotte Månsson, director, Nykredit Private Banking, talks to this news service about the bank’s success in this year’s WealthBriefing European Awards.

What sets you apart from your peers this year and why?
Being part of a customer-owned bank structurally sets us apart from our peers. But, more than that we have put a big effort into upskilling our private bankers to have emotional conversations and connect with clients in a virtual world. This has been equally as important as having financial discussions. 

We have been quick to adapt to new ways of working in client teams to allow private bankers, investment advisors and wealth planners to work more fluently. Also, we have focused on introducing new products to meet new client demands which have arisen in light of the pandemic.  

How have your colleagues contributed towards the success of your organisation?
There would be no success if it were not for our colleagues. It is in the day-to-day work, for instance, client meetings and everyday tasks where we share knowledge to continue improving. Keeping the motivation high for all relationship managers is key and thus, we spend a lot of time on facilitating a culture of passion for our profession. Moreover, we think it’s essential to deliver different options for our employees to continue expanding their skill-sets.

What have been the challenges you have had to overcome to reach such a standard?
The journey we are on at Nykredit Private Banking is ambitious and requires a great amount of readiness for change and a willingness to re-skill from all our employees. As mentioned, motivation is an essential factor which is why highly skilled leadership is core to continuing on our journey towards the “Next Level”. Conversely, we acknowledge that you must be able to have honest conversations about the fact that this journey is not for everyone - and we are relaxed about that. 

To whom do you look for inspiration and ideas?
We always make sure to look outside our sector for inspiration. Our clients benchmark their experience with us with the best they experience generally when interacting with brands or corporations. Therefore, we need to seek the best of the best to be inspired to improve our client service and the overall client experience. 

Moreover, we have continuous dialogue with the clients who sit on our advisory board. Here, we have broad conversations both about financial and personal topics. These conversations give us important insights into how to structure our value proposition.

Finally, a large part of our ideas generation comes from reviewing our overall client experience. The financial sector has changed tremendously in recent years. We know that when the next generation takes over family wealth, they will have different expectations and demands for us as a private banking partner. Thus, we have a constant need to track our performance and calibrate our client experience with the smallest changes in client needs.

What do you hope will be the result of receiving this accolade? How does it help your business in this region?
We are very humble to receive the acknowledgement and it motivates us to continue pushing further in the direction we have chosen. We define client service as the central part of our value proposition, but we do also see ourselves as business enablers. We are therefore excited to further develop the idea of working with emotional calibration.