Trophy of the year nominee: Nordnet Egen pensjonskonto (EPK)

Insights | Blog Post
29.03.2022

Through Trophy of the year, Lumera highlights innovative customer projects that create more efficient administrative processes, lower costs and improve quality. We want to raise attention to the people behind the projects and the result of their ability to carry out challenging tasks. The nominated projects show a wide range of assignments and a high level of competence and functionality in our products. This year, there is a large variation of nominated projects, which shows the range and scope of the projects we conduct together with our customers. Here we present the first nominated project for Trophy of the year 2021. The winner will be announced on June 1st.

Egen pensjonskonto (EPK)

Nordnet, the leading Nordic digital savings and investment bank, has extended its implementation of Lumera’s policy administration system, to underpin its service offering addressing Norway’s newly introduced Egen pensjonskonto (EPK). EPK enables some 1.5 million private-sector employees in Norway to manage their pension savings more practically using online services while providing greater freedom of choice both when it comes to investments and management of their savings. For the insurance industry and other pension providers, EPK significantly raises the bar by requiring an all-digital customer dialogue and fully automated information flows between industry parties.

EPK regulations may become subject to change over time, which requires that industry stakeholders and service providers can adapt to any new rules and update their offerings and systems accordingly. The inherent flexibility offered by Lumera, together with Lumera’s presence and commitment to the Norwegian market, clearly facilitates such efforts.

Nordnet entered the EPK market with the clear ambition to be the number one choice for pension savers who want to make conscious decisions about their pension capital. This was enabled by a modern digital platform, market expertise and highly efficient, automated administrative processes. This goal was achieved in part thanks to a very efficient and close collaboration between Nordnet and Lumera.

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