SEB is set to modernise its custody infrastructure across the Nordic region through a new collaboration with S&P Global. The Swedish bank will adopt S&P Global’s cloud-based securities processing platform, aiming to increase automation, improve operational resilience, and support future product development, announced SEB.
The platform, part of S&P Global’s Market Intelligence division, is API-enabled and designed to handle the full post-trade and asset servicing lifecycle. It supports exception-based processing and offers a modular setup, which SEB says will allow for faster time to market and more scalable operations.
“The new engagement with S&P Global gives us access to a tested platform that allows for the scale and flexibility we need,” said Ann Magnusson, head of Investor Services at SEB.
The transition will take place gradually over several years, with SEB moving functionality and data to the new platform in stages. Customers will experience changes progressively, depending on their segment and market. The bank will use the platform across all Nordic markets, covering retail, private banking, family office, and sub-custody clients.
Future-proof
For SEB, the move forms part of a broader effort to future-proof its post-trade services. By replacing legacy systems with modern, cloud-based architecture, the bank aims to streamline operations and reduce the complexity of maintaining and updating infrastructure.
From S&P Global’s perspective, the agreement marks a step forward in the rollout of its Securities Processing Platform. “Collaborating with SEB on this transformational journey represents a key moment,” said Ankush Zutshi, who leads the platform at S&P Global Market Intelligence.
