The document discusses the rise of fintech, highlighting its impact on banking, personal finance, and corporate finance, particularly in Stockholm. It outlines the challenges and benefits of increased financial technology usage, including consumer choice and cybersecurity risks, while referencing the importance of the EU's Payment Services Directive 2 (PSD2). The presentation emphasizes the transformative role of fintech in traditional banking, encouraging openness and innovation.

1. May 2016

2. What is FinTech?
Technologies for banking and corporate finance,
capital markets, financial data analytics, payments,
and personal financial management
- Accenture/CB Insights
Finance
Technology
FinTech

3. Stockholm’s path to Fintech success

4. Commoditization of banking

5. Greatly increased ease of transactions

7. I just bought
1000 SEK of
bitcoins

8. Mycelium wallet on my phone

9. Banking is essential,
but banks are not.
Bill Gates
Second wave of digitalization

10. Recent surveys of millennials

11. 100 FinTech companies in Stockholm
0
10
20
30
40
50
60
70
80
90
100
2015201420132012201120102009
#ofCompanies
Payments
Lending
Trading and Banking Tech
Other FinTech
Wealth Management
Crypto Currency
Crowdfunding
Transfers

12. Moving in on traditional bank territory
Inspiration from CB Insights, SEB base webpage slightly modified to make more room

13. Alternative investments through crowdfunding

14. Automated investing based on algorithms

15. Cheaper and easier international payments

16. Changing behaviors?

17. Benefits vs challenges
- “Condemned to the freedom of
choice”
- “Freedom with responsibility”
- Increased spending,
overextending private economy
- Loss of privacy and integrity of
data
- Risk of fraud
- Cybersecurity
- Difficulty in being a good
citizen?
- E.g., Income tax filing
+ Increased choice
+ Improved ease of transactions
+ 24/7/365 access
+ Reduced financial fees
+ Alternative investment
possibilities
+ Lowered switching costs

18. But will it truly be
cashless?
Increased use of
EUR and USD?

20. How do I
declare my sale
of bitcoins?

21. Future consequences of
EU Payment Services Directive (PSD)?
 Payment Services Directive 2 (PSD2) passed on January 12, 2016
 Must be included in domestic legislation by January 13, 2018
 Among other things, requires that banks open up, through APIs
 Intention is to improve consumer experience
 Some precedent (e.g., Tink), but no longer discretionary
 What does this mean for FinTech and banks?

22. Robin Teigland
robin.teigland@hhs.se
www.slideshare.net/eteigland
www.funnovation.se
@robin.teigland
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