Build the Future
The SWIFT Business Forum Nordics took place on 9 May 2017 at The Brewery, a brand new venue in the heart of the Stockholm. It focused on the theme of building the future of the financial industry where 260 delegates attended – representing a record attendance for a SWIFT event in the Nordics.
The event was opened by Professor Emma Stenstrom of the Stockholm School of Economics and closed by Chief Strategist, Johan Javeus, of SEB who addressed how political headwinds across Europe may impact banking in the Nordics – and where 60% of the audience agreed that financial services in the Nordics would ‘survive’ rather than ‘thrive’ in the next decade.
Innovation requires slow as well as quick thinking - important to contemplate.
- Emma Stenstroem, Associate Professor, Stockholm School of Economics
Digital age is also the age of risk management
- Javier Pérez-Tasso, Chief Executive, Americas & UK Region, SWIFT
Highlights of the day included:
- The plenary panel on “Digital Transformation - Seizing the Momentum” where the panel discussed how financial institutions in the Nordics can stay resilient and secure whilst continuing to innovate and navigate change. The audience were balanced on whether innovation or cyber was the most disruptive - however, 60% of the audience said they had a high commitment to embracing new technologies and innovations - only 6% said that it was low.
- “Cross-Border Payments – Faster, Transparent and More Secure Transactions” explained how, and why, SWIFTgpi is accelerating in the Nordics – proving trackable payments and driving speed beyond Europe. A staggering 84% thought the best way to work with FinTech in this space is to collaborate – only 9% thought banks should compete.
- “The Future of CSDs” where 90% of the audience thought the use of distributed ledger technology was at least three years away.
- “Rise of the Robots” – the new hype - which showed the future potential of Robotic Process Automation to generate efficiencies - which 63% of the audience are implementing or are considering to implement.
Banks in the Nordics don't compete on security - information sharing is critical
- Kevin Aytap, SWIFT CISO, SEB
There are a lot of investments to be made, in the US and around the world, that got put on hold due to the global financial crisis. This should help promote growth.
- Johan Javeus, Chief Strategist, SEB