As 2020 draws to a close, I wanted to take a moment to say thank you for following P27 on our historic journey during the past year.
Needless to say, it’s been an exciting and eventful 12 months for the company – despite the challenges presented by the coronavirus pandemic.
Our primary focus during 2020 has been on building the P27 platform. The platform needs to meet the highest standards in terms of security and stability, and consequently, we have been planning the potential transformation of SEK Batch, EUR Inst, DKK Batch, and SEK Inst.
We have prepared for obtaining the required regulatory approvals in all countries. We are also engaging with all potential future participants to secure their readiness when we finally go live.
The year has contained a number of other important milestones, including the building of our first data centre and the initiation of the Swedish transformation programme in cooperation with the Swedish Bankers’ Association.
In October, P27 announced the signing of Bankgirot, another important step in our ambition to build a solid clearing infrastructure for the entire Nordic region.
In December, we published our first white paper, presenting a clear vision for the future of payments and P27’s role in turning that vision into a reality.
Later in the month, we received an endorsement from the Nordic Council recognizing P27 as an important project for potentially realizing the vision of the Nordics as the most integrated region in the world.
P27’s organisation has also grown and evolved a great deal. From a staff of 11 at the start of the year, we have expanded to nearly 40 today, and on top of that established a function for future customer relations.
Looking back, I’d say 2020 is the year during which P27 established itself as a force to be reckoned with in the payments industry, having initiated productive and ongoing dialogues with central banks and other regulatory bodies in the Nordics and elsewhere in Europe.
And despite all we’ve accomplished in the past year, I’m convinced that 2021 will be even more significant for P27’s ongoing mission toward offering cross-border, cross-currency, real-time payments to the Nordics. However, we need to remember that we live in a dynamic business environment and that we need to prepare for the unexpected.
In closing, I wish you happy holidays and all the best in the coming year. We look forward to having you with us in 2021 as we continue to forge ahead on our historic journey.
CEO, P27 Nordic Payments