Electronic Payments International took aside Kristoffer
Lawson, co-founder and head of product at Finnish start-up Holvi,
during Finovate to find out what their unique selling point is.
Holvi, one of the companies Electronic
Payments International has picked as
one to watch out for, has launched a service that provides
small organisations with a shared financial management account.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Lawson explained that the service’s target
customer segment is groups of people, such as bands or sports clubs
that would benefit from having a common account to track incoming
payments and expenses.
In the words of Lawson, Holvi caters to
“prosumers” – consumers that are also producers of certain services
and activities, such as sports clubs, who need an overview of their
entity’s spending.
It first appears like a personal financial
management tool, but Lawson insisted it is more than that. “It
basically replaces the current account, you won’t need one with
this service,” he said.
With this service, Lawson said Holvi aims to
challenge the traditional banking attitudes. He said that despite
the rise of innovative banking and payments products, banks are
still offering more or less the same functionalities they offered
ten or so years ago.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
Online banking may be an exception here, and
on this, Holvi looks to capitalise on by offering groups that
require a shared account, but actually have no need for a bank
account.
Holvi’s service complies with EU legislation
for banking and payments services and offers a shared current
account, a ready-made online store for built-in payment systems,
invoicing, automated accounting and transparent monitoring, he
said.
The dashboard, which Lawson showed to
Electronic Payments International during Finovate,
separates income and expenses in two boxes, categorizing individual
areas of spend for each category.
Lawson said the company has secured a deal
with Nordic banking giant Nordea. Nordea provides the services for
the Holvi platform.
