Our team had an amazing time at the Nordic Fintech Summit, one of the top fintech events in the Nordics based in Helsinki 🇫🇮

This year’s focus was on the future of open finance and payments, and we eagerly dove into discussions about the latest in open banking, payment innovations, account data solutions, upcoming trends in European payments by 2026, and much more. 

Neonomics CEO Christoffer Andvig delivered a keynote on how payment providers like Neonomics can help banks capitalize on open banking, account-to-account (A2A) payments, and embedded finance. While banks are beginning to recognize the potential of these innovations, they remain very comfortable with traditional card schemes. "The reality is essentially that banks are starting to see what’s possible, but at the same time, they are very comfortable with cards," mentioned Christoffer. "The card schemes themselves have also been trying to hedge themselves with A2A." Despite the highest card processing costs in 28 years, banks find it challenging to shift away from established card scheme setups, even as A2A payments present a viable alternative.

Christoffer highlighted the immense potential for profitability in embedded payments and open banking, and that improving the user experience for A2A payments is crucial for wider adoption. “There has never been more demand for A2A, from merchants big and small. They want to reduce their costs and complexities – make things simpler. We’re here to do that, under an ecosystem where banks, merchants and us as the facilitators work together.”

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Finding your place and capturing value in the infinite embedded finance chain

In addition to his keynote, Christoffer joined a panel discussion with Tuire Mäkelä from Nordea and Anniina Heinonen from Wolt, focusing on capturing value in the embedded finance chain.

“There is significant potential for banks if they think in new ways.” Anniina added, “It’s crucial for banks to ensure their services are available where customers need them, aligning their interests with the evolving landscape of embedded finance.”

“We believe in a collaborative approach," concluded Christoffer. "Banks have existing strengths and customer trust that can be leveraged in new ways. By working together, we can create an eco-system that benefits everyone involved.”

We saw some great progress in the embedded finance space at the summit, and it was great to catch up with fellow fintech friends, partners, and customers. Huge thanks to Helsinki Fintech Farm for organising another fantastic event, and we can’t wait to see everyone again next year!

Are you looking for solutions around open banking, account-to-account payments, account data solutions or embedded finance? Let's have a chat!

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