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Finland and Sweden at the forefront of Internet banking in Europe.


A fresh report by the financial analyst Moody's puts Swedish and Finnish banks at the forefront of Internet banking in Europe.

The report said that although the Nordic countries were all well positioned for the changes in the banking world brought by increased Internet access and usage, Finland and Sweden had been quicker to develop Internet banking capacity than Norway and Denmark.

The report noted that 82% of all transactions between Finnish banks and their customers arrived in electronic form already in 1998, and that cheques are virtually a thing of the past.

Moody's report foresaw no short-term changes in Nordic bank ratings because of the impact of the Internet, but said that longer term bank ratings could be affected positively or negatively.

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Title Annotation:Industry Trend or Event
Comment:Finland and Sweden at the forefront of Internet banking in Europe.(Industry Trend or Event)
Publication:Internet Business News
Article Type:Brief Article
Geographic Code:4EUFI
Date:Apr 1, 2000
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