The POP Pankki Group consists of 18 independent banks and over 60 branches and service points across Finland. The group also includes the central credit institution for POP Banks, Bonum Pankki; the mortgage bank POP Asuntoluottopankki; and the central organisation of the group, POP Pankkikeskus Osuuskunta. POP Pankki Group’s activities are guided by core values: “Looking to the future”, “Done right the first time”, “Together we achieve more”, and “Profitably responsible”.
Repeatedly recognised as the best bank in Finland, POP Pankki Group adopted Granite’s risk management software in 2022. The bank currently uses a comprehensive suite of nearly ten tools. We interviewed POP Pankki’s Operational Risk Officer, Petri Lönnqvist, to find out how Granite’s tools have transformed the group’s risk management practices.
From Excel to harmonised, continuous risk management
According to Lönnqvist, the group’s risk management is organised according to the three lines of defence model. Business functions form the first line of defence, the risk control function within the central organisation of the group forms the second, and internal audit constitutes the third line.
While risk management processes were in place, evaluations were primarily conducted using standard office software. These assessments were not fully harmonised or easily combinable prior to the implementation of Granite Risk Management Software. POP Pankki needed a tool that would enable systematic, harmonised, and regularly conducted evaluations across the group level.
The implementation of Granite’s software began with two tools: risk assessment and the handling of realised risk events. These tools were intentionally separated into distinct modules to allow clearer use, evaluation, and reporting.
Granite’s tools were well received across the group, and usage has expanded into a nearly ten- tool suite, covering outsourcing and information security risks, as well as compliance and project management tools.
Benefits: transparency, accountability, and time savings
The adoption of Granite has brought significant improvements to POP Pankki’s risk management, supporting both expert work and everyday business. The change is particularly visible in how up-to-date information is now easily accessible, responsibilities are clearer, and processes are more efficient.
“We can now quickly view the risk situation, from the perspective of an individual bank to the entire group level,” explains Petri Lönnqvist, describing the visibility Granite offers.
Granite has also supported the transfer of responsibility to the appropriate parties: risk management is no longer solely the domain of risk experts, but business functions are actively involved. This has enabled clearer ownership and continuity of processes.
“Banks and business units have adopted several of the tools as their own. We haven’t had to revert to old methods, and no one misses Excel,” Lönnqvist sums up.
Reporting has also undergone a major transformation. Previously fragmented reports from various sources have been replaced with a single, real-time, easily customisable system.
“Time use has improved significantly. All information is in one place and can be quickly tailored for different purposes,” says Lönnqvist.
An operating model, not just a tool
POP Pankki did not merely adopt a tool—it renewed its entire risk management operating model. Risk management shifted from one-off assessments to a continuous, real-time process.
“The aim from the beginning was not to do risk assessments just once a year, but to maintain and update them regularly. We can now respond immediately when risk assessments change or regulation evolves,” says Lönnqvist.
Granite’s customer-specific configurable tools supported this mindset and goal. The collaboration was close and flexible: POP Pankki invested time in defining its needs, and Granite provided the technical support and expertise to meet them.
Looking ahead: AI, increasing regulation, and evolving cooperation
According to Lönnqvist, regulation will continue to increase, become more detailed, and grow in complexity. In this context, the role of systems becomes even more critical. He is particularly interested in the potential of artificial intelligence:
“AI can help analyse and link information across different tools. It could speed up understanding of the situation and help identify significant anomalies.”
POP Pankki is also looking forward with interest to Granite’s upcoming AI features.
Collaboration that delivers
Petri Lönnqvist summarises the collaboration with Granite as follows:
“It’s been a great model. First we define the needs, then Granite brings the expertise for implementation. Tool deployment and development have been fast, and communication has been close. This approach has made it easy to succeed.”
