OP Financial Group’s Data Balance Sheet

OP Financial Group’s Data Balance Sheet provides an open and transparent description of the governance, management and use of data in Finland’s biggest financial services group.

Because data is a greater factor than ever in defining the opportunities and risks faced by businesses, we must treat its productivity improvement and protection as seriously as we do in the case of economic and human capital. Success requires gaining the confidence of customers, other stakeholders and society in a company’s use of data and the related goals.

OP Financial Group taps into one of Finland’s largest sources of data capital in order to better understand and serve its customers. The annual Data Balance Sheet reflects OP Financial Group’s desire to be a responsible leader in data processing, and to engage in open and transparent discussion of its data management and usage policies.

Openness about our use of data and value creation is an important part of our corporate responsibility, and a way of meeting the growing expectations of customers and stakeholders. This is also about clarity: because data and its use can seem remote and abstract concepts, our Data Balance Sheet communicates on the issue in everyday terms.

At OP Financial Group, we use data to develop banking and insurance services, to achieve greater understanding of the customer’s needs, and to secure the future of the Finnish financial system. The Data Balance Sheet describes how we use data to realise the Group’s strategy from the business, customer benefit and risk management perspectives. For customers and other stakeholders, the report provides information on the key principles and practices governing responsible and safe data processing.

OP Financial Group published its fourth Data Balance Sheet in 2022. The report also covers key events within OP Financial Group’s digital services in 2021.