Holvi Pioneers New EU Legislation to Empower Prosumers
Up-and-coming service provider from Finland helps small groups manage their finances
HELSINKI, Finland and LONDON, UK (Finovate Europe 2012) (PRWEB) February 08, 2012
Holvi, a Seedcamp Winner and portfolio start-up from Finland, introduces a new service that helps groups handle and manage their finances. The solution is a no-hassle online collaboration tool that offers any association or group a shared checking account and all necessary finance management features. Holvi is showcasing their tool at the Finovate Europe 2012 conference taking place 7th February in London.
Enabled by the new pan-European legislation for banking and payment services, Holvi’s service comes complete with a shared checking account, a ready-made online store with built-in payment systems, invoicing, automated accounting and transparent monitoring for team members. All features are managed from a single dashboard, simplifying project administration from initiation to planning, execution to wrap-up.
The service is certified by the Financial Supervisory Authority of Finland and is based on services provided by the Nordea bank. Holvi is currently in private beta in Finland and is scheduled to be available in the rest of Europe later this year.
Holvi’s service originated from a growing trend of consumers forming groups to support a cause, enjoy a hobby or simply do something creative together. Such groups are informal, quick to form and are often geographically dispersed. Traditional banking industry currently does not support such groups in any way, making financial side of project management time-consuming and tiresome.
“Traditional banking has not changed much”, says Kristoffer Lawson, Holvi Head of Product. “With the exception of online banking, functionalities that financial industry provides to consumers today look very similar to those they offered a decade ago. While entertainment, music, film, sports and even healthcare industries are being revolutionized through new technologies, why has the traditional banking system not been challenged? Well now that is increasingly taking place.”
Holvi, together with other companies outside of London and UK are creating truly value-adding services that are bound to transform the way we think about banking and finances today. What distinguishes Holvi is catering for the needs of today’s prosumers (producers-consumers) who demand services that enable their activities and lifestyle choices.
The new generation of prosumers need rebellious tools that are built on their terms. The fact that such solutions have not come yet from the traditional banking sector testifies to the trend that innovation is springing up elsewhere. Northern Europe is a notable example of this trend with companies like Rovio and Spotify that disrupted entertainment and music industries respectively. Banking and finance are likely to follow suit.
For further information please contact:
Head of Product, Holvi Oy
Tel.: +358 40 731 22 73
Email setok [at] holvi.com
Holvi is a pioneering online collaboration tool for project budgeting, group banking, financial management and automated accounting. Holvi provides groups a single dashboard that offers a shared checking account, all the necessary banking functionalities and a ready-made online store with built-in payment systems. Automated real-time accounting and cashflow calculation is transparently accessible for team members. Designed to facilitate collaborative project work in a way that was previously not possible, Holvi is enabled by the new Pan-European legislation for banking and payment services. Established in 2011, Holvi Payment Services Ltd is based in Helsinki, Finland and funded by private investors and Seedcamp. For further information, please visit http://www.holvi.com.
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