Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData
I have been acting as an independent advisor for the Findyconsortium in Finland (now the public-private Findynet co-operative) since it started in 2018. It aims at implementing a trust infrastructure based on Self-Sovereign Identity and the Trust over IP architecture. Here all citizens, all organisations and many things will get general purpose fa...
03 March 2023 /retail /identity Innovation in Financial Services
1. Trust infrastructure As the benefits for building a global trust infrastructure are so massive (3-6% of GDP according to McKinsey), it is clear that governments will be strongly committed to drive the migration and that enterprises will start to see the enormous benefits they can achieve (as outlined in 5 major categories in Self-Sovereig...
26 January 2023 /payments /retail Digital Banking Trends
I had thought that my stories would advance in chronological order - but notice that so many rungs and rail composites from the early e-ladders are important in the next ones - that I keep moving back and forth. I hope it still makes sense. At this point I cannot stay away from looking to the next concrete platform - the interoperable European Trus...
07 January 2023 /retail /identity Data sharing
As I wrote in the first post, my interest for digitalisation started off from trying to automate more work in the backoffices. Then it moved to convenience for e-banking customers > not having to send or receive invoice snailmail and keeing in lenghty details when paying. It then jumped back to productivity when the Finnish public sector calcula...
06 January 2023 /retail /predictions Innovation in Financial Services
An often repeated experience on my journey has been that one thing leads to another, which leads to another and so it goes. You may have a hunch about what these may add up to - but seldom a very clear picture or a plan. So get going - and start with what many need often (preferably same logic, user experience and tool) at home and at work - and ke...
05 January 2023 /payments /retail Innovation in Financial Services
I have a few more parts in mind. Candidates - time permitting - include: Ladders galore, Productivity impact high level evaluation, Life events as starting point for service design, Single Market leap, Sustainability impact and Leadership observations. Lesson learned: Writing may help you to use what has been done right and what failed when looking...
03 January 2023 /identity /predictions Innovation in Financial Services
The first rung in the mobile services ladder was the word syntheziser for pushbutton telephone payments created in -82. Once mobile phones - the next rung - started to appear you could use them to make wireless payments. An advertisement has a man sitting on the ice - fishing with a bulky Nokia drag-around mobile phone next to him. The next rung ...
01 January 2023 /payments /retail Innovation in Financial Services
Banking in Finland was hit very hard by an economic recession of unseen proportions in the early 90s. One unfortunate aspect was that local banks before that had hastily been deregulated and massed into commercial lending without the needed experience. This might still have been manageable - but the unrealistic attempts to keep the Finnish Markka ...
31 December 2022 /payments /retail Innovation in Financial Services
Especially in the Nordea Bank stage we started to think that the then 4 million strong e-Banking user habit and trust should be reused for other interaction purposes than traditional payments and other banking services. With 10 million private and 1 million corporate customers there must be an enormous customer and societal value in interacting al...
29 December 2022 /retail /identity Banking Strategy, Digital and Transformation
In these dark days of brutal military aggression, it is important to find time to also look forward and discover new ways to make Europe more competitive and secure. The next phase of digitalization – the trusted data infrastructure based on Self-Sovereign Identity and MyData principles - is now an opportunity on an unprecedented scale. The impa...
29 December 2022 /regulation /identity Banking Strategy, Digital and Transformation
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