2. - 20+ years in banking
- Inc. 10+ years of financial research
- 2011-2016 in Danske Bank
- Head of business development in PB
- Head of strategy planning in FIN
- Partner in two start-ups
- Since Oct. 2016 research network of FinTech
- Together with the Bank of Finland and
Ministry on Finance a FinTech Institute
- Ph.D. about banking development &
partnerships
- 7 journal & conference publications
3. • Independent think tank
• Academical foundation
• FinTech research and business development hub
• Researchers, incumbents, start-ups, regulators
• Bank of Finland and Ministry of Finance
• Coordination, education, research
• Up-to-date Finnish FinTech status
• International co-operation
5. Our research network
FinTech
causation
research
Aalto Hanken
Lappeenranta University
of Technology
University of Oulu
Hanken
University of
Tampere
University of St.Gallen
FinTech
Management
Mental
Model
Customers,
Data,
Insurance
Customer
value
creation
6. FinTech causation research
Financial business:
- Business models
- Competencies
- Competition
- Co-operations
- Management
- Customer experience
- Value creation
- Partnerships
7. Summary
Current banking
processes:
- Rife with problems
- Regulatory costs
- Inefficiency
- Digitally wrapped
- Centralized
- Exclusionary
Blockchain or DLT?
- to do more with
less
- streamline their
businesses
- and reduce risk in
the process
Blockchain
- contracting, clearing, settling,
and record-keeping tasks
- forge agreements, make
transactions, and build value
- to verify their identities,
establish trust, or perform the
critical business logic
Industry change
- DAOs
DLT
- identity and reputation, moving
value (payments and remittances),
storing value (savings), lending and
borrowing (credit), trading value
(marketplaces like stock
exchanges), insurance and risk
management, and audit and tax
functions.
Business model change
and ecosystem
implication
12. Trade finance
The new platform helps optimise internal
processes for banks and reduces the risk of
documentary fraud, but the key cost efficiency
is in speeding up the time it takes to complete a
trade transaction – from as many as 20 days, to
just a few hours.
Loading the goods, issuing invoices, dealing with home
bank, getting recommendations checked, sending the
paperwork and getting it endorsed by the importing
bank. In the worst case scenario, it can take 20 days.
Since all this is physical, it’s really difficult to accelerate
that process.
14. Status right now
solutions for authentication, blockchain-as-a-service, open-source blockchain, application
development, mobile wallets, compliance, trading and investment
15. FinTech synergy
API and
open banking
3rd party
applications
FinTech
Banking-as-a-service
Platform
economy
Generic
platforms
IoT
Banking-in-a-service
DAOs
Replaced
Banking
Services
Value delivery level