On the last weekend of June, Luminor finalised the migration of the former 50,000 Nordea customers in Lithuania. This was the last major step in the journey of becoming independent on the banking systems and services in Lithuania.

Head of Luminor in Lithuania Andrius Načajus said: “For the past two years, we have gone through an enormous change and established all necessary systems and solutions, as well as business connections in order to achieve this, and I am grateful to our customers for taking that journey with us.”

Načajus went on to stress that Luminor is now one unified bank for our customers. “I want to thank our team, who implemented this technically difficult task safely and smoothly, and I want to thank our customers for following the information we provided and allowing us to work together to find the best solutions for the secure migration of their data. I also sincerely apologise for the inconvenience part of our customers experienced when activating their new cards and codes. By today, most of the issues have been solved”.

Načajus added that the customer migration was the last major step for Luminor in Lithuania to become a fully standalone bank after having completed the connectivity of the bank to payments infrastructure and set up correspondent banking, exited or taken over all systems run by our former parent banks or on their infrastructure, and establishing independence from parent funding.

“Luminor is a local, pan-Baltic bank for local businesses and it was crucial to gain the independence. We are now well positioned to continue investing in improving our customers’ experience when banking with Luminor and accelerate the development of our digital services and new products,”

Načajus said.

From June 29, all the bank’s customers are using Luminor unified systems, including the same internet bank, mobile app, products and services. Data transfer is a very complex process and Luminor migration team was well prepared by having gone through several rehearsals prior to the actual migration, which contributed to the technically smooth migration. Part of the customers still experienced some inconveniences when activating new cards or using the available codes. Additional load of customer calls was caused by several temporary service disruptions of Smart ID. These were common disruptions for the all users of this services on the service provider's side.

To help the call center with the increased number of calls, the customers were invited to contact the bank through Facebook, or the bank called them back personally later on. Based on incoming questions, information was constantly updated in all channels with support, instructions and videos available on the most frequently asked topics.

On the last weekend of June, 50,000 customers were migrated, among them 45,000 private and 5,000 business customers. 

The main changes include:

  • starting to use LuminorIDNB internet bank and mobile app with Smart ID, Mobile ID, or a new code generator;
  • MasterCard and Maestro cards were switched to Visa cards;
  • cross-border payments will be subject to a new SWIFT/BIC code – AGBLLT2X.

Account numbers did not change with the migration in June, 2020.

Luminor is proceeding now with removing all the LuminorIDNB and LuminorINordea names from its systems and services, as well as finishing some other less visible back-office tasks by the end of 2020.

Q&A: Unifying systems

Luminor is the third-largest provider of financial services in the Baltics, with some 900,000 clients, 2,500 employees, and a market share of 16% in deposits and 18% in lending as of 31 March 2020. Total shareholders’ equity amounts to EUR 1.6 billion, and Luminor is capitalised with a CET1 ratio of 20.5%.

More information: Indrė Baltrušaitienė

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