Annual report 2023

Focus on joint Nordic banking IT ensures SDC a good result for 2023. In the coming years, this focus will increase further. 

The framework is in place for SDC with the new 2025 Strategy, "Execute Effective Banking". Modern cross-Nordic IT solutions, high growth ambitions, especially in the Norwegian market and employee well-being will ensure continued high value creation for SDC's customers throughout the Nordic region. 

Good 2023 result 
The Annual Report 2023 was approved at SDC's Annual General Meeting on 6 May 2024. The report shows that SDC is in a good and stable place with satisfied employees, increased demand from SDC banks and a continued high level of joint Nordic development:

• Turnover DKK 1,837 billion, corresponding to revenue growth of 8 %
  
• Profit after tax increased from approximately DKK 17 million to DKK 31 million
  
• Continued high joint Nordic development
  
• Decreasing sickness absence, lower employee turnover and satisfaction survey with increasing scores in areas such as working conditions, motivation and commitment indicate increased employee well-being

Modernization and adaptation of system portfolio 
With the new 2025 strategy, Execute Effective Banking, SDC focuses on harvesting the fruits of previous years' strategies with a technical level change and adjustment of the system portfolio – i.e. cross-Nordic solutions, phasing out maintenance-intensive solutions and closing down cost-intensive systems with few users. 

"At SDC, we have in recent years invested approx. half a billion annually in modernization of our central platforms within, for example, Data Warehouse, advisory tools for bank employees, automation and online and mobile banking. And we have a unique cross-Nordic core banking platform, designed with a focus on Nordic scalability and flexibility. This means that we can focus on the future, work with the latest technologies and thus further optimize our competitive solutions for our customers," explains CEO of SDC, Torben Finnemann. 

Attractive solutions and satisfied employees to ensure value – and growth in Norway 
After an eventful 2023, including a new CEO and management, a new organization and the launch of a new strategy, the framework is in place for the realization of the new two-year strategy. 

"Our employees are the foundation for us to create value for our customers. It should be fun and motivating to go to work, and therefore I am pleased that we are experiencing an increasing satisfaction among our employees. This is crucial for us to retain and attract the most talented colleagues," says Torben Finnemann. 

Revenue for 2024, of which more than 80% of the expected revenue is already in the order book, will continue to be driven by joint Nordic development in areas such as compliance, automation, payments, digital customer channels and self-service. SDC has a scalable organization, which with external partners and nearshore setup in Poland makes it possible to adapt and optimize resources and thus ensure delivery capacity. 

"In 2024, we focus on ensuring increased professionalization and collaboration across the SDC community and, not least, meeting customer expectations for our deliveries of competitive, cross-Nordic solutions. We must deliver even more new functionality, new solutions and services that can help SDC banks become more efficient, contribute to increased turnover and thus create value for their customers and shareholders.

In addition, we have just opened an office in Bergen, and we have great expectations for our ongoing positive dialogues in the Norwegian market. We see good opportunities to fulfil our growth ambitions and thus further strengthen our delivery and competitiveness", concludes Torben Finnemann.

Read the Annual Report 2023