Over time, a lack of investment rendered Nordic legacy payments systems ill-equipped to capitalise on the drive toward digitalisation seen across the industry in other regions. To resolve this, P27 was created in 2018, incorporating real-time, batch, domestic, and cross border payments to be carried out on a single platform. With new payments methods coming to the fore, what role will P27 play in ECB TIPS instant payments settlement, CBDCs, the E-krona and a potential cashless economy? Further, will Big Techs utilise P27 to open new platforms and offer greater interoperability?
A landmark cross-border technology hub collaboration between four central banks and the Bank for International Settlements (BIS) will pave the way for creating financial market infrastructure solutions, including digital currencies that have the capacity to transform payment systems and how cash is used. With this focus on suptech, regtech, CBDCs, open finance, cybersecurity and green finance, what will the future of the Nordic payments ecosystem look like?
SWIFT’s ISO 20022 Programme, scheduled to go live at the end of 2022, aims to establish a harmonised modern global language for cross border payments messaging. While SWIFT gpi has already secured faster processing and includes full end-to-end tracking for both the remitter and ultimate beneficiary of the payment, for treasuries, a key focus is on better managing various risks, including liquidity management risk. How can banks increase the use of automation to monitor potential fraud without disrupting the customer experience? How can STP – straight through processing – help?
Head of Research, Finextra
Charles de Rougé
Head of SaaS Solution Financial Messaging, Bottomline
Nordic & Baltic Payment Lead, Tink
Vice President, Payments Solutions Specialist in EMEA, J.P. Morgan
Head of international solution consultants on enterprise payment processing solutions, FIS
Kasper Almar Mortensen
Head of Liquidity Mgt & Corporate Channels, Nordea
In the region that ushered in the world’s first green bond, banks are now building private databases to help their clients navigate ESG. The financial services industry has a pivotal role to play in driving this transition towards a resilient future. With organisations now responsible for driving positive change, what challenges have Nordic players overcome when considering climate-related losses, diversity and inclusion or increased financial inclusion? Has enough progress been made?
What is the Nordic payments landscape’s response to the metaverse and how will interconnected virtual experiences using technologies such as virtual and augmented reality support the industry? Will Nordic banks leverage the potential that blockchain, digital assets and NFTs now present, or even take the lead from Asian financial players to establish themselves as the European forerunners of the digital finance future by creating virtual environments for clients and customers?