Name: Åse Marthinsen

Position: Lead Case New Venture at DNB

Team/division: Payments & Innovation

How long have you worked there: 5 years

Location: Oslo

Your superpower? My “do-it” attitude!

What is a workday in New business & Innovation at DNB like?

New Business & Innovation is divided into different divisions: Payments works with strategy, infrastructure, fintech and trends, where there has been a lot of change recently. Because of covid-19 we have seen a drastic decline in cash transactions and a substantial increase in “tapping” with contactless. Next we have Open Banking and New Tech Lab which recently has contributed to the compensation plan together with the Tax Administration. Lastly we have New Venture which is where we look at business opportunities that can generate new sources of revenue for DNB, often by working closely with other business areas.

How do you work with innovation in your organization/team?

Innovation strategy aligned with our business strategy, focus on chosen innovation areas, a change-oriented culture, innovation methodology and time to impact - these are things that drive our efforts. These days we work a lot with regtech and how DNB can collaborate with third parties to enable fintech’s to innovate in this space.

Regtech is a hot topic these days, why?

Compliance and risk management is the biggest challenge faced by the industry today. Regtech focuses on utilizing technology to make risk and compliance more efficient and cost-effective. After all, too many processes are still being done manually, and the application of AI and machine learning to stop money laundering and fraud is a great example of how automated solutions can benefit the finance industry and our society as a whole. Many regtech-companies have already started to solve issues like this, but they often lack both customers and consumer data to test their solutions. Next step for us is to onboard relevant regtech vendors that share our vision, and going forward we will bring additional institutions on board to enable more innovation in regtech.

DNB is a part of the Nordic KYC initiative “Invidem”, how are you contributing?

Yes, together with the six largest Nordic banks we are working closely with Nordic KYC which has now become a separate company called Invidem. As they expand they will gradually launch KYC (Know your customer) and AML (Anti money laundering) services to financial institutions based on the collaborative effort between the Nordic banks. Working on this project has been insightful, and the cooperativeness from all parties to solve a common challenge has been incredible.

What do you believe is the most important factor(s) to succeed in your industry today?

A collaborative approach and the combination of people and technology!

What does it take for collaboration to succeed?

My experience from working with partnerships and collaboration is that it is important to be clear about the intentions of the involved parties and to have an open dialogue from the get-go. Additionally, it is essential in a collaboration that all parties see the benefit of being involved. I think it is crucial to find a common goal, and to be open about which areas are subject for competition, and where there are opportunities for cooperation. Regtech is an excellent example of where collaboration is both crucial and necessary. When we look at other countries, there is a much closer cooperation. In Norway we work a lot in silos, but we still have common goals - for example fighting money laundering, which is something we can and should do together.

What do you think is the trend ahead and are there any exciting startups that match these trends that you have seen on the radar?

Alot is changing because of covid-19. We see digital solutions being forced upon us more than ever, and I think this trend will follow us even when the pandemic is over. Other than that, I think collaboration with other industries, fintechs and more use of technology is the way to go as we move forward. Innovate, test and fail fast.

Regarding exciting startups, it is difficult to choose just one! So, I will rather use the opportunity to say how in awe I am of their passion and commitment. The speediness of solutions/services once they get going is incredible. Large corporations like ourselves should be inspired and learn from them.

On the go

- Name a book that has made a lasting impression on you and that you would recommend to others
The Innovator’s Method – bringing the lean startup into your organization by Nathan Furr and Jeff Dyer.

- Business motto / personal motto
Shoot for the moon even if you miss, you’ll land among the stars – Norman Vincent Peale

- Anything you wish you knew 10 years ago?
Our stock pricing 😊

- What would you tell students considering a career in this field to think about before entering the workforce?
A combination of technology, business understanding, and passion is great in many positions in the future. Be curious and get more information!

- Who would you like us to talk to next?
Henrik Lie-Nielsen