Our team of eleven is divided into two groups, securities and currency. Both have in common that the work involves adhering to best business practices, cultivating business relationships, attracting new customers, monitoring market developments and keeping an eye out for any new solutions to offer customers. Product development is an important part of our work and has resulted in good growth and several new customers. Towards the end of 2022, we launched a self-service system for foreign exchange trading. Customers can get price offers immediately and are able to conclude transactions in a quick and easy manner. Customers who have tried the system are very happy with the solution and make full use of it. In the past 1-2 years, Landsbankinn has introduced several new solutions for FX derivatives and in securities trading. These solutions have also attracted several new customers, proving the importance of on-going product development.
A large part of the job involves attention to and monitoring amendments to the legal and regulatory environment and adapting activities and processes to such changes. It is important to us to meet all requirements made of our operation, from the beginning of each business relationship. We perform due diligence, review customers’ knowledge and experience, their categorisation and determine appropriate products. The same applies to order execution to which strict rules apply at all times.
Most new customers are on-boarded by our personnel who leverage their business relationships and market experience to attract them. We also build on the fact that the entire Bank is part of our team. Asset Management, Corporate Banking and Corporate Finance, the Corporate Banking Service Centre and branch network are powerful allies when it comes to attracting new customers.
Despite the challenges on the market last year, things have been ticking over nicely. During times like these, it is vital that the team monitor the market and maintain up-to-date knowledge. The market is dynamic and it's all about expectations and the needs of our customers. We host regular information and status meetings with parties both in and outside of the department, and with customers. Our employees need to be able to stay on top of a great deal of information and be able to read the situation at each time in order to provide the best service to customers, inform them about the current status and what to expect.”