521 Results
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Previous posts have aimed at describing the big picture: •https://www.finextra.com/blogposting/13835/real-time-economy-for-eu---big-picture The very compelling Why - the Mission •https://www.finextra.com/blogposting/13836/real-time-economy-for-eu---why The What - the targets in the Vision •https://www.finextra.com/blogposting/13847/real-time-econo...
20 March 2017 Fintech innovation and startups
The two most central targets are: 1. Automated VAT- and other reporting to public and other sectors (Target 1- T1 in slide). For this automated - towards real time moving - accounting is needed (ECO1). Central building blocks are real time payments (BB1), real time e-invoicing and e-receipts (BB3) in same structural form and standard. E-id and e-s...
19 March 2017
The benefits - direct and indirect - should be analysed from several angles - even if it is clear that the benefits mostly soon will end up at the EU-citizens table: 1. Benefits for the EU-Citizen Data driven RTE Ecosystems will: - Improve corporate and public sector services by making them data driven and real time - Improve managem
15 March 2017 Innovation in Financial Services
Being back from a very inspiring meeting in Brussels it is a good moment to post a few high level observations (going into Why-How-What details separately). The RTE is all about automating financial and administrative processes and data management and bringing them into real time (a big value in itself). There are many building blocks - ecosystems...
Banks have helped customers to connect since ancient times. Credit payments, card payments, letters of credit, collections, bank guarantees, securities transactions, project financing etc. This all benefited from and created new much needed economy of trust, scale and scope. An even exponential positive spiral.. Gradually these traditional "...
12 January 2017 /payments Innovation in Financial Services
Are you the last Mohican? The last one still sending our accepting paper or PDF invoices? In your private and/or corporate role? The last one using cash in a shop? The last one writing or accepting cheques? If so - stop to think how unproportionally expensive it is for your supplier, customer, shop etc. To have to count and take cash to the bank, ...
02 November 2016 Electronic invoicing
Posted this in 2008 - edited now Had a discussion last week with a representative of a consumer organization at a conference in Brussels. It did strike me - again - how little interest these organizations have to further cost cutting in enterprises - in this case by moving to e-invoicing. The cost of paper invoicing to the consumer segment in EU ca...
01 November 2016 /payments Electronic invoicing
My experience from being a part of payments, e-banking, mobile, e-id etc development work has been that one should start with services that "all people" (Ms Same Guy in her private, entreprenaur and employee roles) use "all the time". Then use the same tool (habit, trust, investment etc created) for services needed less frequent...
01 November 2016 Innovation in Financial Services
The Real Time Economy program in Finland listed 1. the national income register, 2. automated real time accounting, 3. automated VAT reporting and 4. XBRL general ledger standard as top priorities. All of them have moved forward considerably and continue to progress. The national income register stands to be launched in 2019. What is it and what w...
31 October 2016 Innovation in Financial Services
I continue to come across digitalisation projects where there is too much emphasis on planning - leading to slow progress and lack of flexibility once started. Sometimes people refer to the wisdom from housebuilding where "Well planned is half done." This is certainly the case there - my own experience also. But in the digital world we sh...
08 September 2016 Innovation in Financial Services
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