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Banks,
Money & Insurance:
Second Netbank revolution
Finland leads the world in the second Netbank revolution.
Whereas in the aftermath of the first revolution nearly all
Finns handle their bank affairs on the Net, now companies
are transferring at a rapid pace to e-invoicing.
In the second revolution the talk is of e-identifiers, e-signature,
real-time e-payment, e-salary and primarily the use of Netbanks
to send e-bills. Finland's biggest Netbank, Nordea, launched
the e-invoicing concept in Finland in 2004. During the first
year close on 25,000 companies started using it.
E-invoicing is putting Finland on the world map and creating
a strong base for exports in consultation and IT applications.
The innovation has aroused wide-scale international attention.
As a mass market solution, e-invoicing is reckoned to be
the biggest cost-saver on the horizon in both corporate and
public-sector processes. The transfer may be quick, because
e-invoicing is based on a European standard that is ready
and does not require any investment by a small company.
Published 2006
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