OP Financial Group | Money on the Move: the Next Chapter in Smart City Evolution

Column  17.05.2023

Ever thought about how a city would feel and function if money moved at lightning speed? If companies could pay vendors or receive funds from clients in the blink of an eye? Or if cities could instantly process payments, increasing efficiency and the happiness of its citizens? It’s not science fiction, it’s real-time banking, and it’s making our cities smarter every day. This is the intriguing theme of our upcoming conference panel discussion.

We’re bringing together experts from OP Financial Group, one of the largest financial companies in Finland, who are driving this change. We’ll share stories about how real-time banking and instant payments are changing the game, making everything faster and smarter ‒ from the way businesses handle their finances to how cities provide services.

But hold on, we’re just getting started! We’ll also explore how banking is stepping into the digital world, creating a new reality where the lines between the physical and virtual world blur. As our conference theme “Digitally Smart” suggests, the panel will delve into how banking is adapting into this brave new world.

We’ll discuss how new banking technologies, like instant payments and payment APIs, are changing the way we pay and handle money. No more waiting for days for payments to clear. Everything happens instantly, creating a smoother and more efficient financial world.
This change isn’t just for big businesses. It’s shaking things up for everyone: small businesses, cities, universities. Our panelists will share real-life examples of how these different players have successfully embraced real-time banking, leading to streamlined operations and cost savings.

Take the case of a mid-sized tech company. They swapped traditional banking for real-time banking, eliminating lengthy waits for payments. Now, their supply chain moves faster, costs less, and keeps customers happier. Real-time banking, indeed, made a real-time difference!
What is more, we’ll share some practical tips on how cities, companies, researchers, and developers can leverage these new banking technologies today. We’ll discuss potential collaborations and how to navigate the inevitable challenges that come with such significant changes.

This discussion isn’t just about understanding the future of banking. It’s about shaping the future of our cities. If you’re a tech enthusiast, a city planner, a company looking to streamline your operations, or just someone curious about the future, this is a discussion you don’t want to miss.

So, join us as we explore how money moving faster is making our cities smarter and shaping our digital future. It’s more than just a look into the future, it’s a chance to be part of the conversation that shapes it. The future is here, and it’s moving at the speed of light. Are you ready to join the ride?

Column is written by Mikko Mäki-Rahkola,
Solution Analyst, OP Corporate Bank Oyj