“Most big banks have the tools and advantages to push the boundaries of their existing business models. And they’re certainly motivated. What hampers their progress is uncertainty about how best to build on core strengths to create sustainable outcomes.”McKinsey
Financial institutions know they need to change. They need to keep up with the digital growth. And they need to keep up with the evolving market that startups are disrupting. Their HR departments feel the urgency and know they need to drive the change. But what often remains blurry is what they need to do in reality to make things happen.
Yes, we need to steer this organization into the new direction – but what is the direction? What does the future of financial institutions look like in practise? And what does it require from people to actually get there?
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The way we do transactions (of all sorts) is changing. Technologies such as blockchain and AI have affected the way we do our banking, insurance, legal work, administration, investments, etc.
But I’m preaching to the choir. Many of you who read this are already part of the next wave of fintech. Or they have the new killer insurtech solution. Or you’re using using blockchain to make some current operation obsolete.
Is that you? And most importantly, do you believe in partnerships with the big players in order to become the next big thing?
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At Nestholma we believe in proximity. Employees of financial institutions and entrepreneurs need to stay close to learn from each other. We need to be there as well, to make sure collaboration happens productively.
But… fintech startups are born global. Fintech startups are not bound by national borders. They need to look past the few big players in their country and build a network of international connection early on.
Tough combination, right?
It seems like we must be everywhere at once. And even worse: financial institutions are expected to keep up with everything that’s going on!
In order to be closer to the financial and fintech ecosystems in Southern Europe and Latin America, we’ve decided to open an office in Spain. Read more »
The startup event of the year, Slush, was last week and that meant it was also time for our official Slush side event: Corporate Venture Capital.
Together with Helsinki Business Hub, Mawsonia and Global Corporate Venturing we got together the brightest of the CVCs from all over the world. And thanks to the great speakers and our amazing attendees we got an interesting peek into what’s in the minds of the CVC professionals all over the world.
Corporate Venture Capital is here to stay
Corporate venture capital has been on the rise. But lately, some have started questioning whether it’s just a boom that is going to die soon. Read more »
It’s time for more deals and more pilots! Taviq from our second Nordea accelerator has just signed a pilot agreement with Nordea Private Banking, going live now. And that’s awesome news for Taviq and Nordea, but even better for Nordea’s customers!
Taviq’s Juho Isola on stage with Nordea’s Chief Digital Officer Ewan MacLeod.
In Private Banking and wealth management, too many clients drop off during the first meeting. That’s because the first meeting is like a cold blind date. Except the customer and the wealth advisor know even less about each other. The first meeting is spent figuring each other out; if the wealth advisor even is the right one to handle their money. Read more »