Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData
Questions on the long journey Summarizing milestones - my own experience mostly based on Fintech in Finland and the other Nordics. (Union Bank of Finland>Merita Bank>MeritaNordbanken>Nordea Bank, Mobey Forum, Visa Advisory board, EU Expert Groups, Real Time Economy Program, Tieto, MyData etc): 1950s - Strong emphasis on payment standa...
18 November 2018 Digital Banking Trends
The Real Time Economy Program in Finland (2006- ) did early on set goals like: - Real Time Tax reporting of salaries, pensions and social support (for salaries ready in 2019 - rest in 2020). Dividend, interest and other investment income already there. - Full migration to electronic structured invoicing and e-receipts - Automated accounting and au...
14 November 2018 /ai Data Management 101
The rapidly swelling data river (MyData, Big Data, Open Data, structured and unstructured) and the service design river namely. In the Real Time Economy program (2006-) we have seen important progress towards getting financial and administrative data digitalised into structured and standardised form moving increasingly into real time. This is als...
14 November 2018 /ai Digital Banking Trends
In the quest for better productivity in the global markets we have been listing huge levers like: - Economy of Scale - still important - even if IT-processing costs have been coming down - Economy of Scope - still important - especially as customers plastic brains have all but eliminated attention spans - and thus comprehensive offerings (self- and...
30 October 2018 Banking Strategy, Digital and Transformation
And no private customers either - just human customers in several roles. A legal person has btw never done anything. So remember this when you create services. Same user experience across roles - and across services. A primary example is to allow the use of e-banking codes as ID in other services that need a strong e-id - and then use them also f
03 October 2018 /ai Fintech innovation and startups
SEPA, PSD2, GDPR etc where only the start. We need more EU and national regulation in the data economy. PSD2 means that there will be standardized access to money data for the application you empower. It was is a huge step towards open data in all sectors. The same should be the case for accounting data - any application producing PL and BS statem...
15 September 2018 /regulation Banking Strategy, Digital and Transformation
It is only a question of time before all e-invoices, e-receipts, and payments are effected in Real Time - in standardised structured form. Why does it not happen faster? EU has been driving e-invoicing for over ten years. Maybe it is only a question of awareness? It is not widely enough known that these transactions are the first and broadest step ...
15 September 2018 /payments Disruption in Retail Banking
The public sector is increasingly outsourcing service production - and thus giving more space for the sector's management to do much more important work - policymaking, driving change, creating rulebooks and so forth. This is for sure a much-needed shift in attention and should be welcomed also by business - especially as we all experience the same...
13 September 2018 /regulation Innovation in Financial Services
KYC reused - good for Society at Large29 July 2018 | 3373 views | 0 The banking sector is doing most of the strong e-ID services needed in Finland. There are some 4000 organizations and all of the public sector using this services (dating back to the early 90s..). Central bank statistics reveal continuing strong growth also in 2017: 2014: 56,2 ...
11 September 2018
Central bank statistics: Number of payments million times direct/card and bn €direct/bn €cards 2014: 56,9/8,6 million times, na/0,8 bn€ 2015: 65,6/7,3, 4,8bn/0,7 2016: 77,5/9,7, 5,4bn/0,8 2017: 88,2/17,1 (big increase in card trx - due to mobile?), 7,0bn€/1,0 Direct real time e-commerce payments started in mid-90s so the habit has deep roots.
29 July 2018 Payments strategies 2015-2020-2030
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