First opened as a beta version to customers in autumn 2016, the redesigned OP eServices and online bank op.fi was then further developed based on customer feedback. In 2017, the new op.fi began providing banking and insurance services on a large scale for private and corporate customers. OP is among the rare financial industry players to have opened up an early beta access to its service. From the very beginning, OP has developed the new service together with its customers and is still collecting customer feedback that will guide further development.
In April, we adopted the Siirto service developed by Automatia, jointly owned by Finnish banks. Siirto enables its user to make a real-time payment to a friend simply with a phone number. Online and mobile payments became easier with our Pivo app's new feature which enables the user to pay purchases conveniently with Pivo, without key codes. OP also developed and launched its first payment bots for Facebook Messenger.
OP Kulku, OP’s first mobility service launched in 2016, offers electric cars as a service. In 2017, OP also introduced DriveNow car sharing charged by the minute in Helsinki and OP Flexible Car providing rental cars for a month or a longer period offered nationwide. In May, OP also announced it will build with Fortum almost 100 charging stations in Finland.
To join Finland’s 100-year celebrations, OP Financial Group wanted to lower the threshold for participating in voluntary work. Inviting everyone in Finland to do voluntary work together, OP created a volunteer work exchange site at Hiiop100.fi. The website enables both announcing and searching for volunteer opportunities. During the jubilee year, OP Financial Group’s personnel and administration did over 274 person years of volunteering work together with partners and other people.
In 2017, the Pohjola Hospital network was expanded by two new hospitals as the first Pohjola Hospital, located in Helsinki, and the Tampere hospital opened in 2016 were complemented by the Oulu hospital in May and the Kuopio hospital in August. All four Pohjola Hospitals provide basic healthcare and special healthcare services, examinations, surgery and rehabilitation on an extensive basis.
In November, OP Financial Group’s 81 cooperative banks held the election of the Representative Assemblies electronically, where owner-customers elected from among them the Representative Assembly for their own bank for four years. A total of almost 2,400 members were elected to the Assemblies. The number of candidates totalled over 5,600.
Together with its customers, OP developed a new motor liability insurance offering the market’s highest initial bonus for new drivers, quicker bonus accumulation for drivers without claims, high maximum bonus and bonus cover for those driving a long time without claims. Already almost one-third of OP’s motor liability insurance policies, or over 250,000, are currently compliant with new legislation.
OP was involved in arranging initial public offerings of Finnish companies and was the only party to take part in all IPOs on the main list this year – Kamux, Silmäasema, Rovio and Terveystalo. In Finland, 2017 marks the best IPO year so far in terms of euros, as the total value of IPOs attained some 1.7 billion euros.
OP Crowdfunding’s first investment project involved the ice cream factory Suominen's Milk Ltd which sought capital for growth and to start exporting its organic ice cream, Jymy. The crowdfunding round was a success, as its minimum target of 200,000 euros was raised in two weeks and Jymy received the targeted number of new shareholders. The final amount raised was over 400,000 euros. OP's second crowdfunding project began in December, with the Nokia-based clothing manufacturer Papu Design, reaching the target already by the end of the year.
OP's updated corporate social responsibility (CSR) programme sets ambitious targets for the future. One of them is to make OP carbon positive by 2025. The main themes of OP’s CSR programme are promoting sustainable economy, supporting regional vitality, people-first and participative approach and the promotion of health, safety and wellbeing.