Customer dialogue initiated in P27’s and Bankgirot’s joint project

The joint project, where P27 and Bankgirot work together to create a target state for the future of Swedish payment infrastructure, is in an intense phase. The first step is to review previous requirements, together with the banks. Per Nilson, Product Manager P27, and Josefine Russo, Transformation Lead, Bankgirot, are responsible for the customer validation process.

Requirements, assumptions, and solutions that were mapped by P27 and the banks in 2018 needs to be re-validated.

We assume that the requirements that were agreed on in 2018 continue to be relevant also going forward,” says Per Nilson, product manager at P27 with many years of experience in product development, most recently at Nordea.

“But we need to coordinate and validate with the banks to ensure that we continue to have a common view of the requirements for future payment infrastructure,” Per continues.

The validation process, which started in June, focuses on a solution for batch payments, i.e. payments that are currently processed in the Bankgiro system. The aim is to determine what changes and solutions are needed, short and long term.

Longer time perspective can bring new requirements

In her role as Transformation Lead, Josefin has worked with Bankgirot’s transformation and product phase-out for the past two years. Now, the work takes a slightly different direction.

“Based on the changed market situation, Bankgirot will have to manage the current infrastructure for longer than previously planned. Which means that we need to plan for further format adaptations, regulatory changes etc.”

“In addition to ensuring the requirements that have been developed, we also need to understand if there are additional requirements in the existing infrastructure that needs to be handled due to the longer time horizon,” continues Josefine Russo.

Per Nilson highlights that EU Regulation 2015/847, which is aimed at preventing money laundering, is an item to discuss with the banks.

“The banks, which are directly responsible for the directive, may need support from the payment infrastructure to fulfill their mission. In that case, it could lead to demands on both current and future payment infrastructure,” he says.

Banks’ engagement is important

The dialogue with the banks has started and is expected to continue after the summer. The work is iterative, and Josefine Russo emphasizes that the direction may be adjusted along the way.

“There are many questions that need to be answered, some easier than others, we are understanding of to the fact that complex issues will require more time”, Josefine Russo says.

” In addition, we have questions regarding Autogiro and Bankgirot’s e-invoicing solution. We plan to address those questions later this autumn.”

Right now, the banks’ needs and requirements are in the spotlight of Bankgirot’s and P27’s joint project, but other stakeholders are also kept up to speed.

“Here and now, we are mainly targeting the banks in the dialogue and their engagement is important, Josefine Russo says. But we know that this is of high interest to the full market and that we will have to address it on an ongoing basis.”

“Supervisory authorities such as the Swedish Financial Supervisory Authority and the Riksbank are continuously updated on how we continue to plan for, and develop, the payment infrastructure of the future,” Per Nilson points out.

Exciting future ahead

The collaboration between Bankgirot, P27 and the banks is progressing and regardless of what the future payment infrastructure solution will look like, one thing is clear: the current payment infrastructure is robust and Bankgirot’s mission remains unchanged.

“Bankgirot’s first priority is to ensure a stable and robust delivery as long as needed – and we are well prepared for that,” Josefine Russo says.

At the same time, we have started a joint project with P27 to find a solution for the future, which feels exciting, she continues.

Like Josefine, Per Nilson agree that the collaboration between the companies work well.

“Bankgirot and P27 have worked closely together since April and it works very well. We share the passion and engagement to secure the Swedish payment infrastructure and it shows in the work,” Per concludes.

For further information, please contact:

Annica Strahner, Head of Communications

Phone: +46 723 22 52 50