NextGen Nordics is set to return on April 25, 2023, in Stockholm, Sweden, with impeccable timing for the region’s financial landscape.
The event will take place at the Münchenbryggeriet and will feature discussions on P27 during the morning sessions. P27 represents a unified pan-Nordic payment infrastructure for the region’s 27 million citizens, established in 2018 and now operational. This infrastructure currently supports real-time, batch, domestic, and cross-border payments on a single platform. It is poised to transform the value chain in Sweden and is expected to have similar effects in Denmark and Finland, driving innovation across both wholesale and retail banking in the Nordic region.
Furthermore, P27 will serve as the groundwork for future technologies, facilitating the transmission of messages and the reconciliation of value through central bank digital currencies. At NextGen Nordics, the discussion will also include whether Nordic central banks should view cryptocurrencies, stablecoins, and decentralized finance (DeFi) similarly.
Following an interactive lunchtime session where attendees can pose questions about innovation in the Nordic payments ecosystem, the afternoon panels will focus on trends in Nordic innovation. The speakers will explore how enhanced standardization of data sharing, driven by regulations like PSD2, has benefited local, regional, and central banks in the Nordic area. It will also be discussed how, while consumers have gained more control over their data sharing, fintech firms have taken the lead in data conversations over traditional financial services.
The Nordic countries have created a conducive environment for open banking, effectively leveraging big data to unlock innovative opportunities. However, recent regulations in the UK regarding buy now, pay later (BNPL) have mandated that lenders ensure consumers can afford short-term loans.
NextGen Nordics will address the implications of these changes, including Sweden’s position as a leader in the BNPL market. The discussion will question whether the BNPL sector will continue to grow or face challenges due to regulatory measures and increased competition.
The event will conclude with a session on how blockchain and distributed ledger technology (DLT) can enhance control over identity and data, especially as the transition to Web 3.0 becomes imminent.
The Nordic region has been at the forefront of digital transformation, empowering banks to foster innovation and build trust with their customers. This synergy of collaboration and trust has laid a solid foundation for the contemporary financial services industry.
For more information or to register for NextGen Nordics 2023, please visit this link or contact events@finextra.com for sponsorship inquiries.