Community

Important message in any country. One focus area should be to deliver more value in the payments area - adding e-invoicing, enriching account statements so that they handle small enterprises accounting, VAT-splitpayments, automated cash flow estimates and invoice financing - all fronted by multidevice bidirectional real time mobile services - just press "a".

Brett,

My vision is that the tremendous waste and cost multibillion issuing of plastic cards represents will disappear. The plastic card - being unconnected to the Web is also a substandard user experience. Payment, loalty and id-cards will become features in mobile devices - the sooner the better.

I like this "We need to imagine more about where we can go, and spend less time defending where we are..."

One easy obvious step towards mobile banking is the very simple notification of arrived e-invoices - press "a" and it is paid on due date - or press "n" it is paid directly (payment received in real time - case Nordea Bank)

e-invoice is clearly cheaper - and better - same for consumers and business - and swims into accounting automatically

The endgame should be e-invoicing with direct debit option inbuilt - like is the case already in Finland. I have written about this earlier - find it in this collection:

 https://www.finextra.com/blogs/fullblog.aspx?blogid=4840

This so to the point - landmark remarks

In EU we do not have a choice - we have to get people out of paper turning into more productive tasks - retraining sometimes needed - but above all new attitude. Headcount is not the main argument - better jobs is much more important.

And there is of course no escape for SMEs as so many partners state: "it is e-invoice of no invoice"

The EU Commission asked the Expert Group to get a global standard in place for Europe to use. With the UNCEFACT CII V2 content standard as a base it has been delivered in the ISO20022. Now it is being taken into use between service providers - aiming also as end-to-end usage.

We need both a global standard and a service provider network to get the needed interoperability, competition and progress in place. Self evident to enterprises and most service providers.

Luckily we have been able to come up with the needed message standard already - implementation as network standard next - and end-to-end as soon as senders and receiver systems are ready. See more in earlier blog:

https://www.finextra.com/blogs/fullblog.aspx?blogid=4790

So much for Friso

I do not need them - this discussion does