Pål Krogdahl: Strategies for Success – Reflections on the Samlink Breakfast Seminar 

Reflecting on the recent breakfast seminar, I feel invigorated by the discussions and insights shared, and the great audience that joined us – we had a full house. Opening the event, I leveraged the light-hearted analogy of millennials preferring a dentist visit over banking, due to my wisdom teeth complications, setting a theme that resonated throughout the seminar. 

My presentation on “The Samlink Equation 2024” delved into the transformative trends in banking. Key highlights from my presentation included the imperative of digital transformation in banking, acknowledging the sector’s march into uncharted territories driven by changing customer expectations and technological advancements.  

The concept of extreme digitalization, akin to a smartphone upgrade, was emphasized as pivotal for banks to engage users effectively. The evolving competitive landscape, with tech giants and fintech startups challenging traditional banking models, was a central theme. I argued for the re-bundling of banking services, envisioning banks as a one-stop-shop for financial services, reflecting a deeper understanding of customer needs.  

Artificial Intelligence, Sustainability, and New Perspectives

Additionally, the transformative potential of Generative AI (GenAI) in banking was highlighted, stressing its impact on customer engagement, risk management, and operational efficiency. I underscored the importance of understanding GenAI’s role and adapting to it proactively. The seminar also touched upon the increasing significance of sustainability in banking and the need for banks to integrate green finance into their core business. But I underscored this with a growing need for banks to seek to modernize their aging legacy systems and manual backend processes before it is too late.  

Manu Kauppila‘s presentation, offering a banker’s perspective on current trends, especially in corporate banking, added significant depth to our discussions. His structured analysis of the Samlink report – agreeing with three points, partially agreeing with two, and disagreeing with three – highlighted the diversity of opinions in the sector. His praise for the report’s strong and relevant perspective was much appreciated, underlining the importance of diverse viewpoints in shaping the future of banking.  

Significant Changes in the Banking Industry Spark Discussion

For me, the highlight of the morning was the panel discussion, featuring Manu Kauppila, Arto Sorvoja, and myself and moderated by Ville Sointu. Arto managed to link back to my earlier light-hearted complications with my wisdom teeth, with another metaphor comparing a bank’s big bang core transformation to removing all wisdom teeth at once brilliantly illustrated the risks and potential rewards of such an approach, advocating for a more progressive strategy.  

In conclusion, the event not only showcased the future of banking but also underscored the necessity for banks to embrace innovation and adapt to the evolving landscape to remain relevant and competitive. The engaging discussions and the enthusiastic response from the audience underlined the success of the seminar and the relevance of the topics discussed.  

Pål Krogdahl
Director of Technology Strategy and Advisory Services 

Read also
The Samlink Equation 2024 – Navigating the Transformative Trends in Banking
A Strategic Appointment to Reinforce Fintech Leadership: Pål Krogdahl as the New Director of Technology Strategy and Advisory Services at Samlink