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Mobey Forum Charts the Course for Digital Wallet Evolution with New Industry Report

Helsinki, Finland — 18 April 2024 — Mobey Forum, the global industry association empowering banks and other financial institutions to shape the future of digital financial services, is thrilled to announce the publication of its latest report, ‘Beyond Payments: Navigating the Next Generation of Digital Wallets’. This comprehensive report, produced by the organisation’s Digital Wallet Expert Group, provides an in-depth analysis of the evolving landscape of digital wallets, offering strategic insights and recommendations for banks.

The paper introduces a revised definition of digital wallets, reflecting their expanded role beyond financial transactions to managing a broad spectrum of digitised assets and personal data. It delves into the strategic considerations for banks in this rapidly changing environment, emphasising the importance of local champions, eID wallets, Open Finance, and the critical need for interoperability.

“This report is published at a pivotal moment for the banking sector, as many banks are revisiting their strategic paths. The report emphasises the need for banks to prioritise their digital wallet strategies and embrace collaboration to remain relevant and thrive in the digital age”, says Marina Repo from Nordea, co-chair of the Digital Wallet Expert Group, underscoring the report’s significance. 

Elina Mattila, Executive Director of Mobey Forum, adds: “As the digital finance ecosystem continues to evolve, Mobey Forum remains at the forefront, facilitating crucial dialogues and collaboration among its members. This report highlights our commitment to leading the industry, ensuring our members are well-positioned to navigate and capitalise on the opportunities presented by digital wallets.” 

The report is a testament to the collective expertise of the Digital Wallet Expert Group, co-chaired by Marina Repo (Nordea), Cédric Sieber (Swiss PostFinance), and Kristian T. Sørensen (Nets eID Solutions), reflecting a broad spectrum of insights and perspectives from leading industry players.

The report ‘The Next Generation of Digital Wallets’ is available now on the Mobey Forum website (https://mobeyforum.org/beyond-payments-navigating-the-next-generation-of-digital-wallets/ ). Banks, financial institutions, and industry stakeholders are encouraged to download and engage with the report, leveraging its insights to navigate the future of digital wallets successfully.

NFM Publishing Team
NFM Publishing Team
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