Has it ever been so exciting to work with technology and software as now?
Digitalization is a fact in the financial industry, but also in almost all other industries. Technology challenges traditional financial services. Everyone talks about mobility, block chain and new payment channels. Compello is delivering solutions for invoice approval, e-invoicing and EDI and has several customers in the banking and finance sector. We work closely with these and others to open and facilitate new, modern and efficient solutions for them and their clients. For us (and everyone else), this means new and exciting opportunities.
Rune Lindseth from Compello recently participated in FutureBank 2017, here is a summarize of the most important key takeaways from the conference:
The challenges the industry is facing regarding new payment solutions because of SEPA, Open banking and PSD2. New international players such as Apple, Google and Amazon are on track to get a piece of the pie, and the industry must be able to be competitive against these to survive.
Say hello to our product manager for Compello Connect, Rune Lindseth (only Norwegian)
Chris Skinner is an authority on technology within the finance sector, and he is one that everyone is listening to when evaluating future trends. He has been an advisor to the White House and the US president.
There is great focus on the need to think new, develop technology and to find new partners with innovative solutions. Expectations from customers in the future will be of a completely different nature. It will not just be being able to log on to an online bank to pay bills or to pay at the store with a credit card. It is therefore important to get started, not remain on the fence, but rather release new solutions quickly to the market.
Artificial intelligence, machine learning and increased use of apps are areas that opens up the possibility of totally new customer experiences. Banks are looking at technology and the software industry. In that context, Spiff, a cooperation between Nordea and a new small technology company demonstrated their solution. They have launched an app to give end users a more modern and simplified approach to traditional saving processes.
Vipps was also highlighted as an example of a new and innovative solution. This has led to a partnership between over 100 banks pursuing a joint solution, and the news about this was presented at the conference. It is particularly in these areas that Compello is involved and can demonstrate its strength. Compello can offer a platform and services to help banks be more attractive and competitive facing an increasingly demanding customer base.
Compello has signed an agreement with Vipps Invoice (only Norwegian)
10 questions and answers about Vipps Invoice (only Norwegian)
The banks must begin to think completely different to survive in the future.
About FutureBank 2017:
The conference had over 600 participants from the financial industry, and many of their partners were there. The main thinkers in the industry were present to speak about the future, and several panel discussions were held on topics such as safety, regulatory and government requirements, challenges to those who offer solutions and technology trends.
The conference hall was packed with participants from banking and finance, with high expectations for what the future will bring both in challenges and opportunities.