Huge enthusiasm at Fintech Stockholm 2016

220 expectant professionals sat down for the yearly event of Fintech Stockholm at Berns. The biggest news at the event clearly being Riksbanken, the Swedish Central Bank's, presentation about the possibility of giving out e-crowns. Turned into reality, the Riksbank e-currency would become the first of its kind in the world.

"If 2015 was the year when the fintech business exploded and thrived, 2016 is the year of awakening, with bankruptcies among fintech-companies."

Moderator Olle Aronsson from tech news site Breakit kicked off the event with these rather depressing words. However, the news announcements that were about to follow leaved very few of us depressed.

Breakit, hosting the conference along with Swedish magazine Finansliv, had the ambition of giving the visitors an insight about how the fintech-field have changed since last year and what we can expect from 2017.

The event, held at Berns – an entertainment establishment in the heart of Stockholm – attracted a huge crowd of people from mainly the Swedish banking, fintech and investment sectors.

Among the speakers were:

Lena Apler, founder of niche bank Collector and a private investor.
Collector now has a market capitalisation of over 10 billion.

Cecilia Skingsley, Deputy Governor, Sweden’s Central Bank.
Former Chief Economist at Swedbank and journalist.

Jacob de Geer, founder and CEO, iZettle.
Founder of the payment solution company that wants to become the next generation bank for small businesses.

David Fock, Chief Product Officer, Klarna.
Sweden's most successful fintech-company Klarna is expanding to the United States. At home, Klarna has applied for a banking license in order to put up a real challenge against the giants of the industry.

Richard Holmén, founder of Kwick.
Serial entrepreneur who has taken on one of the toughest challenges in digital finance: Kwick wants to digitalize the entire flow around the receipts, saving both time and the environment.

Nanna Stranne and Mai Thai, founders of Sigma Stocks.
With the help of mathematical research, Sigma Stocks has developed an automatic investment tool aiming at eliminating the traditional fund manager.

Getting back to moderator Olle Aronsson and his thoughts about the outlook of 2017, he is far from a pessimist. The future of fintech looks bright, despite the fact that investors are becoming more discerning.

2016 saw the bankruptcy of companies like Trustbuddy and KNC Miner but at the same time traditional banks are becoming increasingly optimistic about working together with the emerging fintech-companies and startups.

Read more: Northmill purchases Trustbuddy's P2P technology

New Fintech Association

Beyond that, Elisabeth Tand Ringkvist, Chairwoman of the Venture Capital Association, announced the formation of a national fintech industry association. Northmill is embracing this initiative and will follow closely how the project develops. The name of the association has the working title of “Swedish Fintech Association”, shortened Swefintech.

Top 3 at Fintech Stockholm 2016

From Northmill’s point of view, these were the big things at the 2016 fintech Stockholm conference.

  • Cecilia Skingsley dropping the news about the Swedish Central Bank looking into the possibility of developing some form of e-currency, popularly named the “e-krona”.

  • Nanna Stranne and Mai Thai from Sigma Stocks very strong performance at stage, effectively convincing the crowd that their robotic platform will erase the need of fund managers.

  • Richard Holmén from Kwick telling us how Kwick managed to digitalize 40 % of Nordea’s receipts. If Kwick is succesful, they will create a digital infrastructure for purchase information, thus completely eliminating paper receipts.

We thank Breakit and Finansliv for a well-executed event and are already looking forward to Fintech Stockholm 2017.

2016-11-17

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