Keeping pace with the changing Nordic payments landscape
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Insights Keeping pace with the changing Nordic payments landscape 27-11-2019 During a busy Sibos conference in London, Tino Kam, Head of Transaction Banking Solutions at Nordea, met up with Lauren Jones from InstaPay, to discuss the latest developments in Nordic payments. This ar
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The desk believes that the development of the P27 payment platform will significantly transform the Nordic payments landscape, facilitating faster and more efficient transactions for banks like Nordea. Per the full note from Nordea Insights, Tino Kam emphasizes the platform's capacity to offer a harmonized service across multiple currencies, marking a departure from the single-currency focus seen in previous initiatives like SEPA. The anticipated advantages of P27, including increased standardization and quicker transaction speeds, position it as a critical product for Nordic banks, especially in an era where 'instant is the new normal.' Market participants should be mindful of the ongoing technological transitions alongside the rise of fintech alternatives that could challenge traditional banking models.
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