Our guest is Ville Sointu, Head of Emerging Technologies at Nordea, the largest bank in the Nordics. His job is to look at technological opportunities and threats. Ville is passionate about connecting new technologies to business utility and making an impact on people's lives through those technologies. His work in banking is incredibly important, since banks are deliberately designed to be risk-averse and conservative. The very nature of the banking industry makes finding new, better ways of doing things a difficult feat. The advantage neobanks have over incumbent institutions is immense but unlikely to last forever. Their brand new, shiny architectures are bound to become legacy at some point, and so they will be facing the same challenges traditional banks face today. Listen to the episode to learn:
  • what innovation strategies work in banking
  • why it's impossible to compare banks and financial institutions due to different regulatory landscapes
  • what's leapfrogging 
  • why do different markets see different products and services succeed
  • how and when to adopt emerging technologies in banking
  • why do banks need more engineers who can explain technologies
  • why silos are not bugs but features in banking
  • how siloes can be broken down using PETs like synthetic data
  • why do banks need to pay attention to the long term gains with PETs and not only to immediate results
If you would like to learn more about privacy enhancing technologies in banking, download the Mobey Forum's report on Digital banking blindspots. If you would like to find out more about using synthetic data in banking, read the overview on synthetic data use cases in banking