Say Goodbye to the Service Formerly Known as Banking – A Case Study on the Changes We Expect to See Across Europe

  • TYPE: Keynote DATE: Wednesday, February 28, 2018 TIME: 17:00-17:20 LOCATION: maX 1
Conference Agenda


Everyone has been talking about how PSD2 will unlock retail banking, opening up the market to new entrants and decrease banks’ power on the market. But if you are looking at the future of finance, look no further than Sweden.

Daniel Kjellén, CEO and co-founder of Tink, a Swedish fintech recently identified by UBS as ”the shape of the changes we expect to see across Europe in time”, will share a case study of Sweden’s journey from financial monopolies to a consumer led market which delivers money on autopilot. 

Sweden is leading the way when it comes to pioneering technology to revolutionize how we manage our money. Only 1% of the value of all payments made in Sweden in 2016 used coins or notes, making Sweden essentially cashless. Rapidly increasing, 73 % of all Swedes are using mobile Bank ID, and 66 % use the P2P payments app Swish.

In this context, Tink has been making open banking reality. Since 2013, Tink has reverse engineered banks’ APIs, long before the PSD2 regulation. A positive consumer response has forced banks to accept this.

With 500,000 users, Tink’s success is evidence that customers are cutting the cord to their banks. Now consumers can connect all their cards and bank accounts, pay bills, transfer money, open savings accounts and gain personalised insights - all in one single app. With nearly half a billion euros of mortgage applications signed for transfer within months of launching, just by a click in the app, witnesses that demand and volume is huge.

Daniel will explain how banks risk becoming mere service providers. He will share how society, press and the banks react to this change, and tell us what will come next:
- Tomorrow’s consumer will be platform agnostic – they won’t care whether they manage their money through their bank, their phone company or their social media.
- Banks risk becoming mere pipes, feeding new third party platforms. But far from being a threat, there’s an opportunity for banks to offer a better service to their customers.
- Managing money will be frictionless and effortless. Eventually money will be on autopilot.

Watch the video:  


Daniel Kjellén is co-founder and CEO of Tink, a Swedish fintech company with the goal of helping people understand their finances, empowering them to make smarter decisions and ultimately bringing financial happiness. Founded in 2012, Tink has been trailblazing in the spirit...

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Daniel Kjellén - Say Goodbye to the Service Formerly Known as Banking – A Case Study on the...

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Digital Finance World 2018

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  • Feb 28 - Mar 01, 2018 Frankfurt, Germany