Coop Pank was added to the list of providers of vital services
Eesti Pank has added Coop Pank to the list of providers of vital services, which includes the most important companies from the point of view of the functioning of the economy and society, whose service continuity must be guaranteed even in a crisis situation.
The list of vital service providers includes banks whose share of payments and cash transactions is important from the point of view of the entire market. The banks on the list have coordinated plans with the Eesti Pank to prevent crisis situations and restore services in the event of an interruption. To this end, banks also cooperate with companies in other critical areas and with state institutions such as the police and the rescue service.
According to Heikko Mäe, Member of the Management Board and Head of Risk Management, there is a heightened expectation for vital service providers to ensure the availability of services in various emergency situations. "For the bank, this means even greater investments than today to ensure the functioning of services, but for the customer, it adds confidence and a certain quality mark that Coop Pank services are available for them in exceptional cases," said Mäe.
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 152,200. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores.