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e-Banking and e-invoicing growing to 100 pct

Central Bank statistics in Finland reveal continued growth in both e-banking contracts and its use for e-invoicing

Consumers signed up:

2015: 6,230 million (entire population is 5,5  - so many are paying for service in more than one bank). 4,0 million use e-invoicing.

2016: 6,427m - out of which 4,1m use e-invoicing.

2017: 6,410m - out of which 4,3m use e-invoicing.

2018: 6.044 e-banking contracts using e-invoicing (lowering trend due to fewer customers paying for the e-banking service to several banks

2019: 5.900 e-banking contracts - all using e-invoicing for almost all invoices (and soon e-receipts as well..)

Contracts for sending/receiving e-invoices:

Banks have signed up in practice ALL active enterprise customers for sending and receiving e-invoices. 

2014: 207k enterprises sending/234k receiving (this does not include non-bank e-invoicing operators..)

2015: 254k sending, 236k receiving

2016: 263/248

2017: 235/261

2018: 247/274 (a handful left.. - if not handled by non-bank operators)

2019: 250/280? - should be 100% when including figures also from non-bank operators

The e-invoicing volumes (including the non-bank operators is estimated by the Central Bank to:

Number of structured e-invoices acquired (PDFs not included)/number delivered in structured form (not printed or e-mailed)

2014: 190 million sent/130 million received

2015: 220/160 million

2016: 300/190m

2017: 318/215m (slow year..)

2018: 320/244 (not yet 100pct)

2019: 400/300? There will strong pressure to migrate as only e-invoices and e-receipts will be allowed in a near future.

The total number of invoices is estimated to around 550m/year. The e-receipt potential is 1,4 billion. The really hot issue is to start utilizing the very rich big data collected from some 20 billion rows in e-invoices and e-receipts - EU level some 1400 billion times X dataelements in addition to total sum and VAT needed for automated accounting.... Collected via real time VAT-reporting and put at the disposal of enterprises. Huge equalizeer for Europe's 20 million SMEs..



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Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

Member since

04 Nov 2008


Helsinki Region

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This post is from a series of posts in the group:

Electronic invoicing

A discussion and guidance on the path to full scale adoption of electronic invoicing by corporates, goverments, SME's and consumers, creating savings up to € 60 billion in 2020. With a focus on: trends, business models, processes, technology, and legal issues.

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