Dutch insurance and asset management giant Nationale-Nederlanden is expanding its financial services portfolio with plans to launch digital payment accounts in 2025.
The company, a major player in the Netherlands, is currently “in the preparation phase” for offering both individual and joint accounts to its retail customers, exclusively through a mobile app.
This move comes as a natural extension of Nationale-Nederlanden’s existing financial services presence, anchored by its retail banking arm, NN Bank (powered by Temenos), which launched in 2011.
“We are looking forward to continuing to be their technology partner on this journey,” commented Prema Varadhan, President of Product and Chief Operating Officer at Temenos, on LinkedIn.
Nationale-Nederlanden views the new payment accounts as a way to deepen customer engagement. NN Bank currently caters to roughly 1.25 million retail customers in the Netherlands, offering a range of products including mortgages, savings accounts, loans, and investment options, alongside the broader group’s life and non-life insurance offerings.
The bank’s financial performance has been positive, with a net profit of €127.1 million reported in 2023, up from €81.5 million in 2022. This growth was driven by a significant increase in net interest income and total income.
Nationale-Nederlanden’s foray into digital payment accounts signifies a strategic move to solidify its position in the Dutch financial services landscape, offering a more comprehensive suite of financial products and services to its customer base.
