Mandatum Life

Mandatum Life decided to expand its offering to include online trading services targeted at mass affluent, high net worth individuals and family offices, along with the retail market. 

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Insurance & wealth management

Company size:

+500 employees



Building a new digital business for Mandatum Life, a key part of the firm’s strategy to become a fully fledged financial provider.


Mandatum Life is one of Finland's most respected financial services providers, offering wealth management, investment, savings and personal risk insurance as well as incentive and reward solutions through various insurance contracts. Mandatum Life has an estimated 300,000 private and 20,000 corporate customers.

As part of its digital strategy, Mandatum Life decided to expand its offering to include online trading services targeted at mass affluent, high net worth individuals and family offices, along with the retail market.

Challenge: find a leading provider with an open architecture in terms of technology, innovation and service

The decision to launch online trading services was made in order to attract new customers and move closer towards their financial cashflow, increase the share of wallet Mandatum Life had with existing and new customers and build a new digital business for Mandatum Life.  In addition, it was a key part of the firm's strategy to becoming a fully fledged financial service provider.

To execute this strategy as efficiently as possible, Mandatum Life agreed a profit-sharing partnership with Saxo, whereby the bank provided outsourced trading services and platforms, custodian services and all regulatory reporting (tax, statistics), while Mandatum Life was responsible for customer identification and first-line support in Mandatum Trader.

Solution: three branded platforms tailored to meet the needs of different client segments and local compliance

For Mandatum Life’s online trading service, it was decided to offer three trading applications suited for different client profiles, based on Saxo's existing offering.

These were, Mandatum ONE, which is an easy to use web and mobile app covering stocks, funds, ETFs and bonds; Mandatum GO, a web and mobile app which covers a full range of Saxo instruments and technical analyses; and Mandatum PRO, with a full range of Saxo instruments and multi-screens aimed at professional investors.

"The importance of digital services is growing all the time and we want to offer the very best tools for our clients. Clients can pick from several different investing and trading applications, so this is a very comprehensive offering catering to all investor segments with different levels of investment experience and wealth."

Niklas Odenwall
VP, Trading and Execution Services, Mandatum Life

One important aspect of the project was the need for the client experience on the online trading service to be tailored to the local market with features such as Finnish news being available. 

This requirement for a local service offering also applied in the back-office where, for example, Saxo set up the infrastructure for the local clearing of Finnish securities through Euroclear which allowed for local rules on segregation to be adhered to as well as creating local payment solutions for Mandatum Life clients. 

Furthermore, clients are verified using TUPAS which is a strong digital authentication method created by the Federation of Finnish Financial Services and again this was as a result of Saxo and Mandatum Life collaboration.


The entire project was highly efficient and took nine months to implement, going live in April 2019.  Mandatum Life has been extremely impressed with the market access that Saxo provides, the wide variety of instruments that are available for clients on the online trading platform, as well as the commitment from the Saxo team to get the project live as efficiently as possible.

Hear Mandatum Life’s story from Niklas Odenwall,
VP, Trading and Execution Services, Mandatum Life

Hear Mandatum Life’s story from Niklas Odenwall, VP, Trading and Execution Services, Mandatum Life


About Mandatum Life

Mandatum Life is one of Finland's most respected and solvent financial services providers and part of the successful Sampo Group. Mandatum Life offers a variety of services, including wealth management, investment- and saving service, personal risk insurances as well as incentive and reward solutions.

The entire stock of Mandatum Life Insurance Company Limited is owned by Sampo plc. Mandatum Life Group has operations in the Nordics and the Baltic countries. Mandatum Life has an estimated 300,000 private and 20,000 corporate customers.

Find out how Mandatum Life used our front-to-back functionality to expand it’s product offering.

Value chain

01 Client experience facilitation

Platforms for self-directed clients

Mandatum Life is using Saxo’s proprietary trading and investment front-ends in a co-branded collaboration model.

  • Native APP and web access to SaxoInvestor
  • Native APP and web access to SaxoTraderGO
  • Professional-grade trading on SaxoTraderPRO

Additional in-platform access to;

  • Local news feed provider by Kauppalehti News
  • Cash transfer functionality by PayTrail
  • Case management for clients to log cased directly with Mandatum Life
Streamlined client on-boarding
  • Client STP on-boarding via Saxo’s on-boarding API
  • Delegated DD and KYC using local authentication setup (TUPAS)
  • AML management by Saxo
  • Automated client access to trading platforms via single sign-on

02 Execution and trading services

70,000+ instruments from one account
  • Single cross-margin trading environment to execute orders and manage risk
  • All - Number of Products+ tradable instruments across FX, CFDs, stocks, bonds, ETFs, mutual funds, options and futures
  • Implementation of additional mutual funds
  • Access to local markets HSE via Euroclear
Best-in-class execution and liquidity
  • Liquidity sourced from 85 venues, multiple tier 1 banks and ECNs
  • Market data service
Integrated risk management
  • Real-time position keeping and account management
  • Real-time risk and margin monitoring
  • Activity log of all trading-related activity

03 Post-trade services

Integrated custody and back-office services
  • Reconciliation, settlement and custody
  • Segregated settlement for HSE with Euroclear
  • Automatic overnight financing
  • Corporate actions processing and stock transfers
  • End-of-day and real-time reporting across front, middle and back office
  • Collateral management and reporting
  • Support for Whole account Transfer services for Finnish portfolios
Reporting services
  • Consolidated reports and end-customer statements
  • MIFID II transactional reporting
  • EMIR reporting
  • Compliance reporting across 170 jurisdictions
  • Data support for client tax reporting

04 Tech foundation

Connectivity and APIs
  • Client onboarding API
  • Federated single sign-on for client authentication
  • End-of-day file transfers for reporting and business intelligence
  • Case Management API
Business management and intelligence
  • Real-time back-office platform via WebConnect
  • Performance dashboards to analyse clients’ behavior including robo build to extract dashboard data and create bespoke Mandatum internal dashboards
Cloud-hosting and IT services
  • Full scale and security with Microsoft cloud
  • Incident management
  • Cyber-security and risk-management programs
  • IT recovery procedures and real-time redundancy set

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