NBIM publishes revised strategy; sets goal to become leading technology organisation

Norges Bank Investment Management (NBIM), which is responsible for the investments of the Government Pension Fund Global, has published a revised strategy and set out a goal to become a leading technology organisation.

NBIM said the revised strategy builds on the strategy for 2020–2022 and emphasises high performance, responsible investment and transparency as key priorities for the fund going forward.

It also has a goal to become a leading technology organisation, as its investment process is driven by data and analytics.

“Our technology is based on our cloud platform, ensuring security, adaptability and scalability. We focus on automation, innovation, removal of legacy solutions and robust cyber security measures,” it stated.
As part of its technology goal, it will continue to invest in solutions and people, with teams working in close collaboration with investment areas. It will also provide opportunities for reskilling and upskilling, and increase its IT development capabilities throughout the organisation.

It also plans to continuously adopt the latest, proven industry trends, such as serverless computing, everything-as-code methodology and machine learning.

In addition, NBIM said it prefers buying mature, managed systems and solutions. However, its unique investment process often requires internally developed solutions. Therefore, it plans to build systems and solutions using a service-based architecture to ensure scalability and easy integration.

“Due to the nature of our business, cyber threats continuously pose an increasing risk. Our goal is to further increase our cyber security capabilities to a level where we can manage increasingly sophisticated threats. In this respect, we will work together with experts from other areas of Norges Bank in establishing a cyber threat intelligence center,” it stated.

The strategy has been revised by the Executive Board in close dialogue with NBIM, following a change in the management group of the fund.
“The revised strategy builds on the previous strategy plan. High performance, responsible investment and transparency continue to summarise our strategy. However, the revised strategy focuses on optimising processes, on technology and on developing our employees,” NBIM CEO, Nicolai Tangen, said

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