The event was opened by Swedbank’s Head of Digital Strategy & Innovation at Ģirts Bērziņš who stated that Open Banking helps bring a community together and strengthen it in digital way as it is not only about APIs but about walls that fall between the banking industry and fintech community.
Stage then was then taken over by Per Åström, Open Banking Manager and Ingrid Lindstrom, BIO of Daily Banking from Swedbank who spoke about the search of partnerships and how banks could bring so much more added value to the clients whilst working together with fintechs. Swedbanks’ launched APIs and their advantages such as one API for all four bank’s home markets and their customers, being in line with Berlin specifications and others were also discussed. Very easy 5 step process to apply and get into Swedbank’s Open Banking environment was introduced to the audience.
Later in the event two fintechs – Asteria and Meniga – introduced their cases and how they already are working with Swedbank and offering Swedbank’s clients that help them manage their business and their daily finances.
In lively panel discussion, moderated by Swedbank’s Fintech Community Manager Marite Aleksandra Silava and joined by companies like Meniga, Trustly, an experienced tech advisor and angel investor Tuva Palm as well as Oleg Marofejev, Head of Open Banking Development at Swedbank, the evolution of the banking as such was discussed and how with the help of Open Banking, daily banking features can be moved closer to the customers. Secrets to good partnerships were also talked over – one of them being good communication flow from both sides. It was agreed that banks need to assure security, good and standardized APIs, and easy to use services to make Open Banking work. Moreover, challenges related to customers’ comprehension of the novelties were touched upon with agreement that it is a huge change in social model – fintechs and customers are becoming partners, and fintechs rather than banks will be setting models, and relations with customers.
After active Q&A session networking took place with developers, fintechs and banking industry specialists mingling together and continuing talks started in on stage discussions.