Financial services

Blog posts

Yulia Filipovich

Compliance Manager, Tieto Compliance Cloud, Tieto

Cyber security was ranked as one of the top five global risks for businesses at World Economic Forum in Davos, Switzerland in 2018. As the EU General Data Protection Regulation’s deadline has just passed, there is growing pressure on businesses worldwide to ensure that they are making cyber security a top priority. More

Steve Warner

Head of Sales, Western Europe, Tieto Retail Payment Solutions

This ambitious claim from the show's organisers certainly had me thinking beforehand that we were starting to see a shift in the focus of our industry from one that was prepared to just talk about a 'collaborative' approach to a mindset that had really embraced the new innovators. More

Jane Strom-Pedersen

Senior Sales Manager, Tieto

Let’s be honest, reconciliation is a pain. It’s a battle, a struggle and an all-around nuisance for corporates, albeit a necessary one. More

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Jane Strom-Pedersen

Senior Sales Manager, Tieto

Liquidity is no longer seen as an asset, it has become a strategic resource. Corporate Treasurers not only need to be more proactive and diligent in their cash management activities, they are also required to provide correct and timely management information. As a consequence there is less time available for the traditional back office related treasury activities – therefore driving both enhanced automation and self-service. More

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Bo Harald

Founding Member at MyData Global Network,

A fair few years ago, I was giving a speech at an e-invoicing conference in London, with 300 people in front of me. As I was talking, my phone blinked: I’d received an invoice in Nordea’s service, which I promptly paid by responding ‘A’. A couple of clicks, and that was it. “By the way, you may have not noticed I just paid an invoice because I didn’t even have to slow down my speech,” I told the audience. More

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Jane Strom-Pedersen

Senior Sales Manager, Tieto

When it comes to corporate liquidity and treasury management, the banks I’m talking to all seem to have one thing in common. The need for speed. More

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Kaisa Koskinen

Business Consultant, Financial Services

I guess many of us have already had some kind of a conversation with a machine. The chat bots have rapidly become a standard solution to handle customer service tasks digitally. For example, over 80 % of private customer service chats are started with a chat bot at Finnish insurance company If. Apple iPhone users have familiarised themselves with Siri, a voice-command personal assistant. You might even have a voice-controlled smart home facilitated by one of the triplets, Apple, Google or Amazon’s smart speaker. More

Financial wellbeing innovation - data, creativity and curiosity

April 5, 2018. | Ksenia Avetisova, Data-Driven Businesses, Tieto | Alan Cabello, SparkLabs Switzerland

Ksenia Avetisova

Head of Enhanced Reality Lab & Strategic Innovation Lead, Data-Driven Businesses, Tieto

Alan Cabello

Founder & Partner, SparkLabs Switzerland

Intrumhack - open innovation as approach to solve the financial wellbeing challenge More

Wiser before the event

March 6, 2018. | Edgars Bremze, Tieto

Edgars Bremze

Senior offering manager, Tieto

Hollywood has a way of making everything seem like an overnight success. The reality of business away from Tinseltown is very different, though. It can take months — sometimes years — of hard work, persistence, dedication and the right support to become an overnight success. I have just returned from a three-day workshop with a client who would like to modernize their national retail payment infrastructure. The idea of steady preparation is certainly relevant to this undertaking. There’s no denying that this is a massive project. But the right technology partner can help cut project time, cost and complexity. In short, help you to be wiser before the event. More

Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

We are entering a new age of digitalization where almost every aspect of our lives is set to be aided and enhanced by Artificial Intelligence (AI). This, in turn, will have a domino effect, helping in the shaping of a smarter society where the consumer will be able to make more informed choices. More

Yulia Filipovich

Compliance Manager, Tieto Compliance Cloud, Tieto

Today, the cloud has been widely acknowledged as an effective and efficient enabler to improve the IT landscape. But many, especially in certain industries, still worry about the security and compliance of cloud services and regard security and compliance as an “apple of discord” for cloud. More

Valdis Janovs

Head of Retail Payments and Cards, Tieto

Edgars Bremze

Senior offering manager, Tieto

Closing of last year saw the launch of new instant payment schemes in the US and Eurozone. The main commercial banks in the US are behind RTP®, and nearly 600 payment institutions from eight European countries are participating in SCT Inst (SEPA Instant Credit Transfer). More

Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

Working and developing in different ecosystems has taught us some important lessons. Together, we can move forward and make financial services better and more customer-centric than they have ever been. More

Patrik Centellini

Senior Business Consultant Payments, Tieto

Niklas Thurfjell

Sales Manager, Retail Payments and Cards,

A pretty straightforward question from a colleague really got us thinking about the terminology we use in the payments industry. More

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Make Meaning - Not Money

December 4, 2017. | Charlotta Wark, Tieto

Charlotta Wark

Head of Financial Digital Channels, Tieto

There's a lot going on right now. And it's all happening with the speed of lightning! Looking at the Financial sector, it's easy to start to panic trying to just keep up with all the ongoing external pressures, such as the new technology trends, the regulatory constraints, the "new customer" whom is no longer loyal to a brand, but is looking for functionality and added value. I'm sometimes asked to advice on what to prioritize and how to set up the organization to become highly innovative. How to seize these new business opportunities and potential new revenue streams. More

Edgars Bremze

Senior offering manager, Tieto

Building a national payment system is a huge undertaking. More

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The future of real-time payments in the Nordics

November 22, 2017. | Christian Segersven, Tieto Financial Services

Christian Segersven

Executive Vice President, Tieto Financial Services

It is a very exciting time for real-time payments in the Nordics. Services like Swish and Siirto began with person-to-person payments and are now growing extremely fast within e-commerce. And the future will see more customer-oriented services that makes users’ lives easier. More

Charlotta Wark

Head of Financial Digital Channels, Tieto

The financial sector will be disrupted by four key factors. Each of which I’m discussing in separate blog posts. More

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Charlotta Wark

Head of Financial Digital Channels, Tieto

The financial sector will be disrupted by four key factors. Each of which I am discussing in separate blog posts. In this blog post, I’ll share key reasons to why you need to hurry up! More

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Charlotta Wark

Head of Financial Digital Channels, Tieto

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Charlotta Wark

Head of Financial Digital Channels, Tieto

At this very moment, the financial industry is facing four huge changes, any single one of them is of the significance of changing the industry for good. Imagine if they all coincide – to create “The perfect storm”. More

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Charlotta Wark

Head of Financial Digital Channels, Tieto

The financial sector will be disrupted by four key factors. Each of which I am discussing in separate blog posts. In this blog, it is time to look closer at how the new directives from the European Union (such as PSD2) will open up a flood of changes for the banking industry. More

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Pedram Tadayon

Vice-President, Financial Services, Tieto

The technology revolution for banking and financial services started out in the mainframe era. By the end of the 80s and the start of the 90s the “traditional banks” built most of their core technical capabilities still being used today. More

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Ilkka Korkiakoski

VP Payments, Tieto

The basic movement of money from A to B is changing. It’s becoming faster, embedded and more open ecosystem driven. More

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Edgars Bremze

Senior offering manager, Tieto

How often have you got to the end of a project and wished you’d known something at the start? This is no bad thing because learning from one’s mistakes is one of life’s lessons — luxuries even. Yet in business, it’s a bit different. Projects have to be delivered on budget and on time. It isn’t always possible or desirable to make mistakes in order to learn. More

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Jyri Nevalampi

Sales lead for the Nordic Banking, Tieto

Tieto and eCraft Business Insight hosted a seminar on Artificial Intelligence and Machine Learning for the financial sector in Helsinki on the 26th of September. More

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Raivis Joksts

Senior Offering manager, Tieto

We caught up with Raivis Joksts, senior offering manager at Tieto to understand the interplay between policy, design principles and technology in addressing financial inclusion More

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Julya Satir

Junior Sales Trainee, Tieto

Tieto hosted together with Episerver a breakfast seminar at Epicenter Stockholm for digital marketing professionals in financial services sector. Here are my key takeaways from the event. More

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Per Dahlqvist

Head of Business Development & Analytics Products, Tieto

There is a need for a more accurate scoring within lending. By implementing alternative and social scoring, lenders can achieve higher accuracy in their credit evaluations. This makes it possible for lenders to capture customers they would otherwise have missed out on. More

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The drive to digital

August 31, 2017. | Patrik Centellini, Tieto

Patrik Centellini

Senior Business Consultant Payments, Tieto

A couple of hikers see a farmer leaning on his gate and stop to ask for directions. “We’re looking to get to X,” they say. “Well, I wouldn’t start from here,” the farmer replies. More

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An open invitation

August 23, 2017. | Patrik Centellini, Tieto

Patrik Centellini

Senior Business Consultant Payments, Tieto

‘Open’ is a short word with a long list of meanings. These range from being free to all to join, ready for business or prepared to entertain new ideas. The impact of ‘open’ within financial services today is almost as big as the list of meanings is long. More

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How deep is your Fintech?

August 17, 2017. | Mikael Wallgren, Tieto

Mikael Wallgren

Sales and Delivery Executive, Financial Services,, Tieto

With all the buzz-words floating around, one may become a bit uncertain what is really meant with the concept of Fintech. Working for a Finnish technology company such as Tieto, one may even be forgiven for thinking it’s just another nickname of our company. But luckily, there are people with better insight who has studied this phenomena, and come up with some really useful definitions and tools for a better understanding of Fintech and its uses. More

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Raghunath Koduvayur

Head of Marketing, Technology Services and Modernisation and Strategic Marketing., Tieto

Whatever the industry, whatever the purpose of the business, whatever the desired outcomes, business success is the ultimate goal of every business leader. More

Jaakko Vilén

Sales Director, Fintech Customer Experience, Tieto

Sunny Copenhagen right after midsummer – an excellent place to be! It was my first time visiting Money20/20, and I was personally excited to go back to the Financial Services industry after two years of learning about other sectors. The unexpected winner and takeaway from the event: fidget spinners by far! Now let’s go first into the other more serious takeaways… More

Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

Instant payments. What is all the fuzz about? Swish in Sweden has been a reality for person-to-person payments and limited corporate usage for a while now. In January, it was also enabled for e-commerce. In Finland, we have now had Siirto for a few months, and in June the platform will be opened for e-commerce as well. Third party payment initiation like PSD2 will be enabled later in the rest of Europe. More

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Sameer Datye

Business Developer, Tieto

Insurance business is probably one of the few businesses that has managed to successfully institutionalize the concept of selling fear; fear of a scary tomorrow. A business where consumers pay money upfront for a service or benefit that they may never need. More

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Jaakko Vilén

Sales Director, Fintech Customer Experience, Tieto

Reflections from Tieto’s breakfast seminar about video and AI in customer service. More

Maria Kumle

Head of New Solutions, Tieto, PHCW

How would you spend your afternoon if you were passionate about ecosystems and digitalization? Or more than average, curious about how the Nordic finance industry will play out when we are full speed ahead into open banking with market places and platforms as a result? More

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And the winners are…

May 30, 2017. | Charlotta Wark, Tieto

Charlotta Wark

Head of Financial Digital Channels, Tieto

…the ones who are dedicated to Nordic banking ecosystems! The ones who are willing to invest in this way of working will be the winners. Together they will revolutionize real-time payments. The result of such a process is embraced by a broad array of payment market players as well as consumers. Here is how and why this adds value to society. More

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Patrik Centellini

Senior Business Consultant Payments, Tieto

More than 3.7 billion people now use the internet, 90 percent of them via mobile devices. In fact, we’ve never been more connected than at any time in our history. When connectivity becomes almost a hygiene factor, this cannot but alter expectations around speed and service. More

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Sali Jalalpour

Presales Manager, Tieto

The final decision has been made. Papers are signed. You’re transitioning to cloud, but how does it work exactly, and how can you do this in a secure manner? We’ll go through the process in this blog post. More

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Sameer Datye

Business Developer, Tieto

Christian mythology pronounces the four horsemen as harbingers of imminent change symbolizing conquest, war, famine and death. Theological interpretation of the same finds its roots in events around the fall of the Roman Empire. Eschatological references apart, let us now talk in the mundane language of business. More

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Christian Segersven

Executive Vice President, Tieto Financial Services

New business models are revolutionizing the financial services sector. To stay in the competition, financial institutions must focus on innovating new business models, digitalizing services, and offering personalized user experiences. Companies must create new services in a lean, cost-effective way, while mitigating the risks related to transforming their current business and offerings. More

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Patrik Centellini

Senior Business Consultant Payments, Tieto

Open innovation is undoubtedly one of the drivers behind PSD2. However, the trend towards open banking and APIs is a global one that goes beyond European legislation. And effects more than just technology or IT departments within banks. More

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Sali Jalalpour

Presales Manager, Tieto

Companies owning their servers are becoming increasingly rare. Instead, they’re fueling their business with cloud. Remaining compliant and secure whilst embracing the benefits of cloud can seem like a daunting task for banks and insurance companies. Here’s how to make it work. More

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Open for business?

April 3, 2017. | Patrik Centellini, Tieto

Patrik Centellini

Senior Business Consultant Payments, Tieto

With all the talk about open access, open banking and open APIs, it’s open season on ‘open’ in financial services at the moment. The PSD2 is driving the ‘open’ agenda for banks in Europe, yet the trend is global. Banks worldwide are also plotting their own routes towards a more open ecosystem. More

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Sameer Datye

Business Developer, Tieto

When we think about insurance, the imagery we have is of an ultra-conservative business, best illustrated by pine stripes, dark suites, Times New Roman font face, legal jargon, disclaimers, leather brief case and polished shoes untouched by the radical technology driven changes happening around. However, this stereo typical image is rapidly undergoing a change as a brave new world of insurance is emerging. More

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To "Pay" or not to "Pay"?

March 14, 2017. | Valdis Janovs, Tieto

Valdis Janovs

Head of Retail Payments and Cards, Tieto

People don’t use their mobile phones to make telephone calls nearly as much as they used to. They are using them to surf the internet, send instant messages, even wake them up in the mornings. The relentless wave of mobile-inspired innovation is continuing and now includes mobile payment. More

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Valdis Janovs

Head of Retail Payments and Cards, Tieto

No personal consumer device seems to have had the same impact as the smartphone. Unbelievably it’s only ten years ago that Steve Jobs announced the iPhone at a Macworld convention. Now over a billion iPhones have been sold. With the speed and scope of change in the mobile space, it can be hard to separate the hype from the happening. More

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Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

Transferring cash immediately and through your mobile phone simplifies buying and selling goods, splitting bills and sending money to friends and family. Pretty obvious, right? Here’s where real-time payments through Siirto will make your life even better than that. More

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Sameer Datye

Business Developer, Tieto

The Young Elderly is a segment of 75 million persons in the Nordics. These comprise of “baby boomers” born after the Second World War who will turn 65 in period till 2030. More

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Patrik Centellini

Senior Business Consultant Payments, Tieto

If you could reboot how payments are done in your store what would you do? Likely you’d want them digital, instant and seamlessly integrated into the shopping experience. With Siirto, this is becoming a reality in Finland. Patrik Centellini shares what’s next within payments for retailers. More

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Maria Kumle

Head of New Solutions, Tieto, PHCW

The disruption of wealth management globally opens up new earning possibilities for the financial institutes. With robo advisory you can capture these new business opportunities. Tieto has the tools and the know-how you need in order to succeed. More

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Per Dahlqvist

Head of Business Development & Analytics Products, Tieto

Many financial institutes use scoring models to lower credit risk in credit appraisals, and in the granting and supervision of credit. Credit scoring models based on classical statistical theories are widely used. However, these models are less resilient when it comes to large amounts of data input; as a consequence, some of the assumptions in the classical statistics analysis fail. This influences the accuracy of prediction and of model generalizations. In this blog post, we will explain how machine learning can be used in credit scoring to achieve a more accurate scoring from large amounts of data. More

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Waltteri Karhusaari

Head of Financial Services Consulting, Tieto

Stay relevant to your customers and create new business opportunities enabled by Siirto. Waltteri Karhusaari explains what banks have to gain from joining the mobile P2P service, Siirto, in Finland. More

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Maria Kumle

Head of New Solutions, Tieto, PHCW

Where are the earning possibilities for the financial institutes when the wealth management and advisory is being disrupted globally? More

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Mikko Helin

Director of Business Development, Tieto Financial Services

Industry barriers are increasingly fading away, and established industry players have gone into new areas. No longer can one company alone provide the experience consumers expect, which has led to the emergence of business ecosystems. Companies in the financial services sector have great potential for gaining strong positions in their ecosystems — but first they need to capture a bigger slice of each customer’s life, or they risk losing their current business to other companies that will. More

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Maria Kumle

Head of New Solutions, Tieto, PHCW

Robo advisory are disrupting wealth management. Business models will need to change. Here are the challenges that will shape wealth management going forward. More

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Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

Tieto operated as catalyst in an ecosystem that generated Finland’s first real-time payment service and cross-banking mobile payment platform Siirto. Sami Uski shares his thoughts on collaboration, industry disruption and the future of payments. More

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Markus Hautala

Head of Blockchain Solutions, Tieto

Together with the other Nordic countries, Finland is among the world leaders in the digitalisation of the invoice traffic between companies. Worldwide, the market penetration of B2B e-invoices is assumed to be around 10%, whereas in the Nordic countries the corresponding figure is already approaching 50%. The e-invoice market is growing rapidly. More

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Per Dahlqvist

Head of Business Development & Analytics Products, Tieto

There is a growing consensus that blockchain technology will fundamentally change the way we think about asset financing and how banks and financial institutions operate. More

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Anna Koskinen

Development manager, Elo Pension Company

According to biohacker Teemu Arina we are all robots. We are programmable slaves of habit whose behaviour is based on the information encoded in us. More

Dawn of the second-generation robo guides

November 1, 2016. | Maria Kumle, Tieto, PHCW

Maria Kumle

Head of New Solutions, Tieto, PHCW

This blog post is part 1 of the series on Robo Guides. Wealth management and advisory is being disrupted globally. The second-generation robo guides will provide a digitized tool that shifts focus from wealth accumulation to enabling life plan management. More

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Christian Segersven

Executive Vice President, Tieto Financial Services

There is a big dilemma in the Nordic insurance sector. The Nordic marketplace has been overrun with innovation over the past few decades. As new products, services and business models have revolutionized most sectors, the Nordic insurance industry has mostly been trapped in stasis. More

Lipstick on a pig or real insurance disruption?

June 21, 2016. | Mikko Helin, Tieto Financial Services

Mikko Helin

Director of Business Development, Tieto Financial Services

I recently attended a superb event called Digital Insurance Agenda (DIA) in Barcelona. The event featured many forward-looking insurance companies, technologies and solutions. But do these new innovations translate to real insurance business disruption or is this merely "putting lipstick on a pig?" More

Technology and the possibilities it creates are changing the world at an unprecedented pace and in ways that were unimaginable just a couple decades ago. At the same, we as people have pretty much the same basic needs as Neanderthals, with all the same joy and fear that comes along with those needs. What will happen to us cavemen in an increasingly digitalized world? More

Jaakko Vilén

Sales Director, Fintech Customer Experience, Tieto

This spring I have been travelling across Sweden: Växjö, Norrköping, Sundsvall, Stockholm and next up Falun hosting multiple breakfast seminars, presenting our view on digitalizing industrial business and learning about our customers’ view on this. Having met several forest and paper industry companies, I have had a good chance to compare Sweden and Finland. More

Mikko Helin

Director of Business Development, Tieto Financial Services

Is digitalization finally making its way to the insurance sector in a big way? Mikko Helin, Director of Business Development at Tieto Financial Services, argues that the insurance industry must take the digital leap and explains how the benefits of digitalization for insurers and customers go hand-in-hand. More

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Erik Nyré

Head of CEM Consulting, Tieto

James Baker-Duly

International Sales, Credit Solutions and Services, Tieto

Find out our takeaways from the recent customer experience management conference, 20:20 Customer Experience: Financial Services Nordics event in Copenhagen. More

Vladimirs Pankratovs

Sales Executive, CIS & Central-Asia, Cards, Tieto

All vacations are over, guests left and we just jumped into the new year, 2016. But before starting a new circle of life, it is worth to look back and see what was done well, what was done badly and what did not work at all. So let´s take a brief look on the payments industry´s trends in 2015. More

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Miriam Agnese

Lead CX Advisor, Tieto

In an American survey about digital disruption in banks from 2014, 72% of respondents in the age-group 18-34 say that they will use financial services from companies that are not banks (like Apple, Square, Facebook, Google, Amazon etc). In the 2015 version of the same study 79% of the respondents also say that the relationship they have with their bank is purely transactional (not relational).  More

Mika Tuohimetsä

Vice President, Tieto

Financial services is a key example of an industry in which digitalization has created an endless array of new challenges and opportunities. For banks and insurers to succeed in this environment, they need to change the way they think about application lifecycle management. More

Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

The key to co-creating new mobile services with users is helping users and providers to learn from each other: developers must understand customer needs, whilst users need to discover new ways of utilising services. Sami Uski explains the key insights from our experience in a collaborative research project with Nordea, Nokia, Aalto University and VTT. More

Antti Seppälä

Solution Head, Digital Branch in Financial Services, Tieto

Our field study shows that small business owners have four key needs for new financial services: scalability to changing needs, easiness to use and the ability to predict and visualise business trends from banking data. What if the solution was a financial ‘webstore’ - a service provided by banks that connects fragmented financial applications into one? More

Sami Uski

Advisor, Customer Experience in Financial Services, Tieto

What if mobile banking apps alerted you to new opportunities and potential financial problems in real-time, and reacting to these matters was just one swipe away? Our collaborative study shows that today's digital users are ready to receive real-time push notifications that help them manage their finances. Providing personalised digital services proactively is the future of personal banking. More

Samuli Ollikainen

Creative Director, Founding partner, Adventure Club

The way we use banking services has gone digital. Still, the services often feel cold and distant. Is it possible to give them the human touch? More

I was leading Tieto Bankdagen last week in Stockholm. It was a great day with the biggest influencers of the Swedish banking sector. I participated in interesting discussions and heard inspiring stories how the banking business is changing they ways of working. More

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Leo Wuoristo

Offering manager, Tieto

In my last blog post I discussed how banks are sitting on a goldmine of exclusive customer data but are struggling to put that data to use. One of the key reasons is regulation. In this post I will focus on how banks can overcome regulatory challenges and how customers can benefit from sharing their personal data. More

Leo Wuoristo

Offering manager, Tieto

Today's banks are sitting on a goldmine of exclusive customer data, but there are challenges to overcome before this can be put to use. More

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