Competing & Sharing

[by Kaia Roquist]

With PSD2 being launched Q1-2018, the competitive framework for financial institutions changes radically and irreversibly – and individual customization of digital customer communication will be challenged in new ways. The need of common platforms has been widely discussed and presented in various forms at DN’s Fintech Conference (Oslo) today.

Sharing standardized frameworks ensures interoperability and subsequently increased force when market silos are broken down and competition becomes global.

At the same time, focus on competitive edge is the driving force behind business development – innovation is crucial. Individual competition is healthy and vital to ensure the positioning of Nordic bank and insurance institutions when competition becomes global.

Development is exponential. Today is yesterday tomorrow. But some rules consist:

Competing does not exclude sharing – and sharing does not exclude competing.

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