Profile

Location

The Nordics

Member since

2018

Writes about

Payments Financial inclusion Cryptocurrency

Kim's blog archive

2022 (4) 2021 (2)

Kim Engman

Senior Director at Tietoevry Banking

Message Posts: 6 Comments: 5

Bio Primary area of expertise, current and emerging retail payments landscape, CBDCs, instant payments, open banking, etc. I have a keen interest all thing alternative payments (mobile, frictionless, invisible). Career History My payments expertise is derived from mainly the Nordics where I have 20 plus years experience and a strong network within most parts of the eco-system. Be it central banks, banks, terminal vendors, retailers, issuers, schemes, WSPs, PSPs, etc. Follow me on: https://www.linkedin.com/in/kimengman/

Blogs

The future of Payments in Europe

Vikings don't use cash

30 Dec 2022

The Nordic countries and past vikings, are virtually cashless societies in 2023. There's no need to bring cash to come visit. The Nordics (i.e., Denmark, Norway, Sweden, the Faroe Islands, Iceland and Finland) aside for being the happiest group of countries, have intensified their journey towards digital payments. Status and how they got here Even...

Cryptocurrency Insights

Bitcoin is bad - blockchain is good

15 May 2022

Why not all cryptocurrencies are alike, and why you should care and (re)act Introduction My original vantage point is being an expert within banking- and retail payments infrastructure. Being highly curious about all matters digital, especially within my profession, I’ve added distributed ledger technology, blockchain, tokenization, cryptocurrenc...

Cryptocurrency Insights

So, you think Bitcoin is money?

15 May 2022

Why cryptocurrencies are not currencies or the world’s new money Introduction My original vantage point is being an expert within banking- and retail payments infrastructure. Being highly curious on all things digital, especially within my industry, I’ve added distributed ledger technology, blockchain, tokenization, cryptocurrencies, as well as ce...

Blockchain in Banking and Financial Services

A seismic shift is brewing within financial services infrastructure

05 Jan 2022

Get ready for users taking back control of their data on the heels of Distributed Ledger Technology and the emergence of web3 services What is web3? Web1 refers to today’s global, interoperable network, built on standards and increasingly with services and platforms we all connect and engage with (web2). With Distributed Ledger Technology (DLT), an...

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Kim is Commenting on

Klarna exec blasts 'mind-boggling' Barclays BNPL research

Nothing is free.Neither is Klarna. Yes, Klarna may claim they offer "interest free credit". But once smoothly onboarded, customers likely will start revolving credit to finance their purchases. As per Klarna's UK website: "The Annual Percentage Rate (APR) for purchases is between 0-18.99%." So, double the 10,1% APR that Barclays and StepChange charge.

30 Jun 2022 Reply Read article

Buy Now Pay Later (BNPL) – What’s Different?

Good summation. Thanks for posting.

11 Sep 2021 Reply Read article

EBAday 2021: Do we really need CBDCs?

An oversight in the above, is the Nordic's largest financial services provider; TietoEVRY, has also joined the Swedish e-krona pilot. From a vantage point of "commercial" banks, a valid question is indeed: Why CBDCs? However, the many reports referred to above (BoE, but also BIS, Norges Bank, Riksbanken) do touch upon the opportunities for central banks and commercial banks alike - dependent on the design choices. Regarding users, and unlike RTGS.global's Andrew Smith, I'd say there are a few advantages to CBDCs. Main one being that they'd be guaranteed (as is the case of cash) by a central bank. This is certainly one reason why central banks (with dwindling cash usage) are pursuing CBDCs. Even still, why users (consumers and businesses alike) would embrace CBDCs, still needs further attention.

09 Jun 2021 Reply Read article

SEB chief strategist: CBDCs could cause friction with commercial banks

Mr. Javeus is not exactly impartial to money issuance and production (hint: It resides with the commercial banks in today's world of digital money). And so, I'd argue that most (any?) commercial bank, would argue against a CBDC. In this light, let me lend a thought or two on his opinions: 1) Not sure Facebook’s Libra is on the rise anytime soon. Mastercard, Visa and eBay recently left them. 2) Javeus is inferring that CBDCs would entail a [bank-like] account with the central bank. But what if the CBDC is value based? And even if, the account is likely just a registry (and not a bank account per-say). 3) Javeus is claiming that an “infrastructure” could only be developed by Facebook. Really? With all the muscle they do have on SoMe, it is nothing compared to the FS industry's muscles. 4) Finally - well, Facebook? Do we really want to entrust Facebook with our financial data, as well? Have we learned nothing over the years from what drives Facebook (hint: Revenue - to the detriment of public discourse, financial markets, politics, elections, privacy, etc. etc.). Add also, non-existing governmental oversight, thanks to the US government.

31 Mar 2020 Reply Read article