Annual report 2018

New customers in the Swedish market
In 2018, Crosskeys consistent cultivation of the Swedish market continued to bear fruit. We have become an increasingly interesting alternative for Swedish capital market actors and during the year, the wealth manager Garantum signed a contract for our new capital market system.

During the year, the fintech company Northmill (with brands such as Easycredit, Rebilla, Credway and Credigo) also launched a card offer based on Crosskeys card issuing service. Thus, we have clearly advanced our positions in the Swedish market during 2018.

Crosskey has a competitive offer in most procurements regarding banking, card or capital market services, and we will continue to benefit from this in 2019. In Finland, too, we can see that market changes are opening up several interesting opportunities for us.

New launches
Several important and prestigious launches took place during the year. The Bank of Åland introduced Crosskeys fingerprint authentication in its mobile and internet banking applications and a digital PIN code service was launched for the Finnish S-Bank, which allows the end-customer to easily change the PIN code on their debit card.

The launch of Crosskeys Open Banking platform, C°Open, will enable banks to comply with the new Payment Services Directive, which comes into force in 2019. At the same time, C°Open sets the stage for quick and smooth collaboration with external partners such as fintech actors. Regarding government-related projects, the new data protection directive GDPR and the MiFID 2 regulations have been comprehensive tasks.
A platform change was made within the Groups card company, Compass Card, at the end of the year. With the companys transition to Crosskeys modern card platform, the Åland Banks Finnish payment card will also be handled through the new card service.

Projects in 2019
Crosskey has several important projects scheduled for 2019. Among other things, there is the new collaboration with the Swedish fintech company Doconomy, with the Bank of Åland as a banking partner. There is also the implementation and integration of the Mobilepay payment solution, which S-bank has joined and which is now being integrated with Crosskeys banking and card system.

Another comprehensive project is about continuing to modernize the systems that support our customers credit decision-making processes. The project began in 2018 and will continue for the next few years. System deliveries for improved support for credit decisions are continuously released during the development work.

Crosskey focuses on monitoring and training
We continue to monitor and train ourselves in new technology, where the leading trends are robotization, artificial intelligence, machine learning and blockchain. We launched a pilot project on robotization in 2018 and in 2019 we will evaluate whether these new trends should be implemented in Crosskeys product range. A crucial question concerns how the new technologies can provide business benefits for our customers in return for a reasonable investment.

About standards and employee satisfaction
Crosskey maintained its high level of quality and after the year’s audits, the company was recertified according to both the ISO and PCI DSS standards. Employee satisfaction, which was measured in our annual employee survey, remains at a high level.