Through advice and capital, we make it possible for households and companies to realise their ambitions and through financial services and financial infrastructure, we ensure that the wheels of society keep turning. This promotes innovation, savings and investment, which in turn stimulates economic growth and prosperity. That’s how we as a bank create value for our customers, for the economy and for society at large.
The easiest way to answer that question is probably to imagine what society would look like if banks one day suddenly stopped working. In such a scenario, you wouldn’t be able to shop online or in stores, your salary and pension wouldn’t appear in your bank account, and the trading in equities and funds would come to a halt. Businesses would be affected too – they wouldn’t be able to accept payments, pay for the goods and services they need, or finance their daily operations or their investments.
Simply put, society and the economy would not function. That’s why banks are regarded as critical to society, and why they have such an important role in our economy and in our everyday lives.
Banks like SEB are public companies with private individuals, large corporations and financial institutions as well as small and medium-sized companies as customers. We offer financial services including advisory, financing, payment solutions, savings, investments and pension solutions. On a general level, these financial services can be divided into three basic tasks that a bank has in relation to its customers:
Sometimes our customers need to borrow money, for example to buy a home or if they are a company, to finance investments. Other times, customers have money to spare and want to invest their capital to make it grow. In various ways, we as a bank connect customers who have more capital than they need with customers who are in need of capital. In that way, a bank is a kind of switching substation that brings people, ideas and capital together.
Smooth, accessible and safe payments and transfers of money are necessary for the functioning of our society. Each day, households and companies together make millions of transactions – everything from everyday purchases to large, international financial transactions. SEB and other banks ensure that these transactions can be carried out and are in that way a cogwheel in the economy.
Savings and investments concern the future. As no one knows exactly what the future holds, every loan and investments is associated with a certain degree of risk – both for us as a bank and for the borrower. We therefore analyse large amounts of information to be able to understand and manage different kinds of risks and to be able to provide advice to our customers. You could say that a bank like SEB is a house of knowledge.
In addition to creating value for the customers who use our services, the activities of a bank also create value for the economy and for society at large – for business, innovation and development, for financial stability, for the broader economy, and for the digitalisation and the sustainability transition.
What is a bank? Download our brochure and learn more about how we create value for our customers and for the economy and society at large.
SEB’s tradition of supporting people and companies, and contributing to the development of society, goes back to 1856, when André Oscar Wallenberg founded the bank. We are also part of something bigger – the Wallenberg ecosystem.
We are engaged in the communities in which we operate in many ways. In addition to the engagement that comes from our direct business operations, we are involved in different partnerships that support initiatives that have a positive impact on society.
Financial crime is a threat to all of society, and it constantly seeks new ways to exploit banks and bank customers. This is why crime prevention is a vital part of our business.