Strivr for Operations Teams - Avanza Bank

How Nordic online bank Avanza eliminates mistakes using Daymi in their financial operations

Customer centric Avanza bank

Avanza was one of the first online banks in Sweden and is today helping more than 1 500 000 Swedes to manage their savings – whether it be funds, equities, or other financial products including mortgages. Avanza’s customer-first approach has earned them the title of having Sweden’s most satisfied savers within retail investment for 11 years straight and has also been awarded the best bank in Sweden several times in the past few years.

The challenge of high growth

Last year the company grew its customer base by 30% and the number of transactions more than doubled, and this trend continues. This growth has been a challenge for Avanza as well as many other banks too. Therefore, the task of managing this rapid growth, alongside maintaining quality is at the forefront of their mind.

We had a conversation with Cintia Bodin, Head of Cash Management and Corporate Actions at Avanza Bank, to understand how they managed to handle the substantial increase in transactions. Alongside being able to deliver on time, avoid mistakes, and without the need to double their staff.

Many years of focus on scaleable processes

Since a few years ago, Avanza has put a lot of emphasis on creating automated and scalable processes. The whole team has been involved in the mapping of processes, analyzing the risk associated with them, and challenging the way they work. Even though the number of transactions and customers greatly increased, Avanza only increased the staff by 10%, which shows how well-prepared Avanza was for the challenge imposed by covid-19 and changing consumer behavior.

During Covid, we needed to challenge our way of working and create opportunities for some teams to work from home. It’s a special situation for any operations team, where you are used to having stationary computers and only having the opportunity to work from the office.

Financial Operations is a fast-paced environment, which requires individuals to be able to handle multiple tasks in parallel and be solutions-oriented.

“I’m not sure we would have been able to handle this transition as smoothly without Daymi”, says Cintia.

Removing mistakes with Daymi

“One of our most important changes has been the implementation of Daymi almost two years ago. Without Daymi we wouldn’t have been able to manage this growth this well. Before Daymi we had spreadsheets with different tasks connected to a specific staff member and then a general checklist coupled with a set of checkpoints during the day”, Cintia explains.

This way of working requires a lot of work to keep updated and still forces the staff to do manual handovers and a lot of challenges when it comes to communication. Since Operations is such a fast-paced environment with multiple tasks going on in parallel it’s so easy to miss a task, due to multiple requests that are sent to the staff members.

“Daymi became a gamechanger for us and ever since the implementation we haven’t missed a single task. We are now in control in real-time. If someone gets sick during the day, we never have to ask and investigate what is done or not. Daymi gives us an overview of everything that needs to be done and the actual progress. I’ve never encountered a system that can provide this, and it’s so easy to use.”, says Cintia.

Automated reporting and follow-ups built-in

Another challenge Avanza had before Daymi was their internal reporting. “Our Operations team is servicing many different business units at Avanza, and we have SLAs towards them. Before Daymi we had to manually gather all that information from different systems and manual tracking in spreadsheets. With Daymi I can just print the report and be done with it”, Cintia tells us. Now, there is no need for manual data entry as all their activity is logged and tracked automatically in Daymi, and the data can easily be exported with one of the PDF or Excel reports.


Thanks to Daymi, Avanza has been much better equipped to manage its growth while maintaining quality. And even though the workload doubled, they were able to keep track of everything in real-time and facilitate the work in order to never miss a single task or process.

Like to know how Daymi has helped other companies within finance to optimize their tasks and processes? Click here!

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