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Simpler finances and smarter solutions

We continued to enhance the quality and security of the Bank’s digital services for individuals and companies during the year. A brand-new online banking platform for corporates was launched and various new features were added to Landsbankinn's app that benefit individuals, families and businesses alike.

Landsbankinn’s app has long since become the primary channel through which individuals access the Bank’s services. At year-end, 88% of individuals used the app regularly; around 70% used only the app, while approximately 12% used only online banking. Use of the app has grown rapidly in recent years, as it is simple and safe to use and enables customers to carry out almost all of their banking transactions.

The majority of companies use online banking exclusively, but their use of the app continues to increase and the number of companies using both the app and online banking is steadily growing.

Ongoing development of the app and the Bank’s broader digital transformation have made it increasingly easy for customers to access and use the Bank’s services.

A major milestone was reached in December with the launch of a new version of the app which enabled customers to view information about their TM insurance policies directly in Landsbankinn’s app. In the app, customers can get an overview of their insurance policies, add new insurance coverage and book consultations.

Among other options in the app:

View the insurance policies the customer holds with TM.

Check premiums and validity periods.

See if the customer is claims-free and meets the conditions for an annual refund.

View more details, such as sums insured, insurance certificates and terms and conditions.

This was the first of many steps in bringing insurance services into the app and we will introduce even more new features in 2026.

More releases and increased efficiency

“The largest single IT project in 2025 was the transfer of TM’s systems management and software development to Landsbankinn. The project was extensive and complex by nature, but it was carried out very successfully and will deliver greater synergies, shared utilisation, flexibility and operational resilience.

We discontinued the use of several legacy systems and continued the targeted implementation of new technologies, including container technology, which increases flexibility, automation and efficiency within the IT division.

The year was also characterised by extensive system and database upgrades and several of the Bank’s core infrastructures were renewed.

The success of these efforts is reflected in the continued increase in releases of the app, online banking and other technology solutions. In 2025, releases were 15% more numerous than in 2024 and approximately 90% more than in 2021. The number of recorded incidents, i.e. disruptions to the operation of technology solutions, continued to decline and was around 50% lower in 2025 than in 2021.

We have begun applying artificial intelligence in various ways within the Bank’s operations, both in customer-facing services and internal processes, and we will continue to expand its use in the coming months and years. A strong focus on operational resilience and security will remain a top priority, alongside continued emphasis on all aspects of security and fraud prevention.”

Self-service payment cards and enhanced security

Among other new features introduced in the app and online banking in 2025 was the addition of self-service functionality for payment cards. This simplifies customers’ lives, as they no longer need assistance from staff for various card-related matters and can instead manage their cards themselves whenever it suits them.

In the app, customers can, among other things, order debit and credit cards, block cards, report cards lost or stolen, order replacement cards, change card types, choose delivery locations and manage card usage settings, both for traditional physical cards and for cards available only in mobile wallets or for online use. In addition, more detailed information about payment cards is now displayed, including benefits, insurance coverage and annual fees, giving customers a better overview. Customers also receive clear notifications about upcoming card renewals and confirmations of orders and changes, which increases transparency and strengthens fraud prevention.

During the year, we also introduced an overview of payment services and new savings options within supplementary pension savings. We see that customers are making extensive use of these opportunities.

The Bank’s strong digital development has made it possible to complete actions that previously could take considerable time and require staff involvement instantly through self-service solutions. This applies, for example, to mortgage applications, where around 85% of applications in 2025 were processed digitally.

In the app and online banking, individuals and families can easily gain an overview of their finances. These platforms provide convenient access to all financial information, making matters easier for customers in general while also supporting Bank staff when customers visit for advisory services.

Customer satisfaction with financial advisory services has increased, indicating that the combination of technological innovation and a personal approach is delivering positive results. In this way, continuous development of the Bank’s services help simplify everyday life and enhance customer satisfaction.

Ever-smarter chatbot

Ellí, the Bank’s chatbot, continues to grow and thrive. In 2025, Ellí was added to the app and her visibility was increased. She was also implemented in the corporate online banking platform. By the end of the year, Ellí successfully answered 95.6% of questions, compared with 92.6% at the beginning of the year. Customers are clearly satisfied with Ellí’s service and, in cases where customers provide a rating after a chat, she receives a thumbs-up in 81% of conversations.

Ellí was nominated for the Corporate AI Representative Award at the Boost Camp Awards, which were held in Oslo in June. In a rapidly growing field characterised by extremely fast development and intense competition, it was a great honour to receive a nomination for best interface.

Simpler estate administration through digital exchange

During the year, Landsbankinn became the first domestic bank to initiate the electronic transfer of information on the assets and liabilities of deceased persons directly to the district commissioners’ estate administration system. With this new process, bank information is automatically entered into heirs’ electronic applications and reports, including requests for permission for private estate settlement, applications to remain in an undivided estate and inheritance tax reports. This reduces manual work, enhances security and speeds up case processing during a sensitive time.

Electronic estate administration services have been under development by the district commissioners since 2021. With the Bank’s participation, the process becomes more comprehensive, more reliable and significantly simpler for heirs.

Securer online payments

At the end of the year, we offered Landsbankinn cardholders the option to link their payment cards to Click to Pay, a new and secure payment solution for ecommerce. The solution is part of a global development in digital payments and is based on cooperation between the major card schemes.

Click to Pay

With Click to Pay, customers can make online payments without entering card details, as payments are authenticated and card information is protected through tokens.

The implementation of this solution contributes to enhanced security, a simpler payment process and a consistent online shopping experience, regardless of card type, issuer or device. Through these initiatives, the Bank strengthens its position in the field of secure digital payment solutions.

Improved and securer corporate online banking

A new corporate online banking was launched at the beginning of the year, featuring extensive changes to all key payment and login methods. Three new authentication methods were introduced for login, meeting requirements for strong authentication and payment traceability. Following these changes, users can now log in and authorise payments using electronic ID, the Auðkenni app or biometrics in Landsbankinn's app. At the same time, the use of RSA security tokens was discontinued.

The Bank’s distribution channels, both the technical environment and the user interface, were given a unified look and feel. Integration between functions in online banking and the app was also improved, making it easier for users to move between solutions and use whichever is most convenient at any given time. 

The new corporate online banking also includes a new dashboard, a shared workspace for companies that simplifies oversight of upcoming cash outflows. Users within the same company can collaborate in this space and organise the payments to be executed during a specific period. It is now also possible to approve and execute one or multiple payments in a single action.