Dealing with disruptions - Christoffer Malmer, Head of SEBx, vice-president of SEB Group

Thank you for the kind introduction and invitation. I want to share SEB's experience with disruption and transformation. How many of you are in a transformation phase? How many think you've figured out how to transform a big corporation? I'd love to hear the recipe. At SEB, we're working with an industry that is disrupting financial services. The previous speaker's points about quick decisions and experimentation make sense on slides but are hard to execute in a 150-year-old organization. We launched Vision 2025 in November 2015 as the starting point of our transformational journey. Before that, the executive committee spent nearly a year crafting the vision, asking why we need to transform when we have reasonable profitability and satisfaction. Without a clear answer to 'why,' it's difficult to install urgency. Bill Gates said banking is necessary, banks are not. We looked at facts: customer behavior is changing—mobile logins have overtaken internet logins, physical branch visits are declining. Customers are telling us there's movement. Regulations are driving transparency and openness, and new entrants are appearing. That's the 'why.' The 'how' is not tweaking what we have; it's fundamental change. The Innovator's dilemma applies: resources, processes, values, culture—we get better at these, but they're less suited for disruption. We need to transform differently. So we kicked off Vision 2025 with an event for 3,000 employees live and many remote, focusing on the 'why.' Then we involved the organization to co-create the roadmap, being honest that we don't have all the answers. We launched 'boost your service' to educate on service. We invest in exploration and experiments. Examples: a branch in Stockholm co-created with customers, open on weekends, with side-by-side iPads—now in 15-20% of branches. A mobile advisory bus, not a smashing success but a try. A digital chatbot Aida. We invested in FinTech startups like Tink, whose technology powers our mobile app. Finally, sdbx: a separate spin-out team to drive transformation. I stepped out of my role as divisional head of corporate and private customers to lead sdbx with seven people. We challenge ourselves, try new things, and share findings with the organization. No guarantees, but the progress has opened eyes. I'm happy to take questions.