Name: Taktikal at FinovateEurope 2024 - Onboarding amid ever-changing compliance
Uploaded: 2024-03-12T11:45:34.330Z
Duration: 642.8
Description: At FinovateEurope 2024, we caught up with Tinna Hallbergsdóttir, chief compliance officer at Taktikal, to discuss how the Iceland-based vendor's digital onboarding and electronic signature solutions are inspiring the global business sector to overcome age-old challenges in compliance.

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{{00:00:04}}
Hello everybody and
welcome to Fintech Futures.

{{00:00:08}}
We are here today at Finovate
Europe in London, UK.

{{00:00:13}}
My name is Tyler Pathe.

{{00:00:15}}
I'm a reporter at Fintech Futures.

{{00:00:17}}
And today I'm joined by Tinna
Hallbergsdóttir the Chief

{{00:00:22}}
Compliance Officer of Taktikal.

{{00:00:25}}
Tina, how are you?

{{00:00:26}}
I'm good, how are you?

{{00:00:27}}
I'm very well, thank you, I'm very well.

{{00:00:29}}
You've not long come off the
the demo stage, have you?

{{00:00:34}}
No, it's been a couple of hours
now, so it's mellowed down a bit.

{{00:00:37}}
Little bit, How did you
find doing the demo?

{{00:00:40}}
It was very interesting.

{{00:00:42}}
Quite fast, wasn't it?

{{00:00:43}}
Quite fast paced, very energetic.

{{00:00:45}}
Yeah.

{{00:00:46}}
Ah.

{{00:00:46}}
Always scared to have that big
light on you, but no, it went good.

{{00:00:49}}
Yeah.

{{00:00:50}}
I thought I thought it was
a very good presentation.

{{00:00:53}}
I thought you did well to make your
point and present your solution, which

{{00:00:58}}
we're going to talk about a little
bit more in this interview, today.

{{00:01:03}}
But yeah I think, it was very good.

{{00:01:05}}
And it was also you and your CEO as well.

{{00:01:08}}
And she's you shared the stage so well.

{{00:01:11}}
It was a really, good balance.

{{00:01:13}}
In terms of your solution, which
we're going to talk about before we do

{{00:01:17}}
that, why don't you tell us a little
bit more about who you are, your

{{00:01:22}}
Chief Compliance Officer, and also
what Taktikal is doing at Finovate

{{00:01:26}}
Europe this year, aside from demoing?

{{00:01:29}}
Yeah.

{{00:01:30}}
Yeah, my name is Tinna Hallbergsdóttir,
which absolutely no one can pronounce.

{{00:01:34}}
I'm so sorry, I told you
that in the beginning.

{{00:01:37}}
That's, the norm.

{{00:01:38}}
That's fine.

{{00:01:39}}
So I've been at Taktikal for a couple
of years now Chief Compliance Officer.

{{00:01:43}}
I handle everything related to security,
privacy, and all of our AML processes

{{00:01:49}}
and product manager for those things.

{{00:01:53}}
Before that I was in insurance.

{{00:01:54}}
I spent 12 years in insurance and
there I was doing various things.

{{00:01:59}}
I was head of the service desk
head of IT, and risk management.

{{00:02:05}}
A lot of compliance.

{{00:02:07}}
Everybody loves compliance.

{{00:02:08}}


{{00:02:10}}
Can't get enough of it.

{{00:02:11}}
I'm quick to call my name when
something compliance related comes up.

{{00:02:15}}
Fantastic.

{{00:02:16}}
And about Taktikal it's
an Icelandic company.

{{00:02:20}}
Yes.

{{00:02:21}}
Can you tell us a little bit
more about what they're doing?

{{00:02:23}}
Yeah.

{{00:02:23}}
So Taktical was founded about seven years
ago to work on onboarding solutions.

{{00:02:29}}
The founders all have a vast
experience of working in banks.

{{00:02:32}}
We've got a couple of IT
guys and a business guy.

{{00:02:35}}
So they've all got very nice
insights into the banking environment

{{00:02:40}}
and the onboarding needs there.

{{00:02:42}}
And they wanted to create something new
and help people get customers sooner.

{{00:02:49}}
So the onboarding process
ideally shouldn't take more

{{00:02:52}}
than a couple of minutes.

{{00:02:53}}
And that's, the solutions that we built.

{{00:02:57}}
And from that we took a sidestep into
digital signatures and we have our

{{00:03:01}}
own digital signature platform with
various types of digital signatures.

{{00:03:05}}
And so most of our workflows, or
all of our workflows, start with

{{00:03:10}}
interaction with a customer and end
with a digitally signed document.

{{00:03:13}}
And then after that we sprinkle
a little automation on it.

{{00:03:18}}
Oh gosh.

{{00:03:19}}
I can imagine as chief compliance
officer in a company like that, you

{{00:03:25}}
probably kept, quite busy, I imagine.

{{00:03:28}}
Yes.

{{00:03:29}}
There's always some new regulations
new stuff that I need to look into and

{{00:03:33}}
make sure that we're compliant with.

{{00:03:35}}
And then there's always these
meetings advising our customers

{{00:03:38}}
on how they can become compliant
and building their workflows.

{{00:03:41}}
So yeah.

{{00:03:42}}
And you work primarily with
financial institutions.

{{00:03:46}}
Yes financial institutions.

{{00:03:48}}
We work with banks, we work with
insurance, we work with new payment

{{00:03:52}}
stream companies some fintech
solutions, but we also work with

{{00:03:56}}
just plain old retail companies.

{{00:03:58}}
And our customer base is quite broad.

{{00:04:01}}
It certainly sounds so.

{{00:04:02}}
And the the, needs of all of those
customers, different customers must

{{00:04:07}}
be, Quite difficult to adhere to,
but you've done well, and I could

{{00:04:11}}
see that in your demo as well.

{{00:04:13}}
In terms of your attendance at
Finovate this year, Finovate Europe.

{{00:04:19}}
Yeah.

{{00:04:19}}
Is it your first time at Finovate?

{{00:04:20}}
It's my first time here.

{{00:04:21}}
Is it?

{{00:04:22}}
Yeah.

{{00:04:23}}
We're only half way through.

{{00:04:24}}
Way a little bit over halfway through
day one, what do you make of it so far?

{{00:04:28}}
It's very interesting.

{{00:04:29}}
There's so much innovation going on.

{{00:04:31}}
It's so fun to see all the other
companies and what they're doing.

{{00:04:33}}
Yeah, and I can see partner
opportunities everywhere.

{{00:04:38}}
Yeah.

{{00:04:38}}
Have you had a lot of good conversations?

{{00:04:40}}
Yeah, I have.

{{00:04:41}}
Yeah.

{{00:04:42}}
Yeah, yeah, And in terms of like the
technologies and concepts that you've you

{{00:04:47}}
know got your eye out for, what is that?

{{00:04:50}}
Yeah, we've always got our eye
out for potential partners,

{{00:04:53}}
especially in data sources.

{{00:04:55}}
We're always trying to get more data
sources into our platform, so that

{{00:04:59}}
our customers don't have to choose or
compromise their own preferred vendors.

{{00:05:04}}
We can, we want to be able to connect with
all of them, especially the best ones.

{{00:05:09}}
You shouldn't have to
compromise on your data sources.

{{00:05:12}}
You should be able to pick the ones you
want and connect them to our platform so

{{00:05:15}}
that you can get this complete product.

{{00:05:17}}
It's a massive topic here today, isn't it?

{{00:05:21}}
Data.

{{00:05:22}}
Oh my goodness, data automation,
data optimization, all of

{{00:05:26}}
it, all the good stuff.

{{00:05:27}}
Yeah.

{{00:05:29}}
In terms of, we, we spoke
about the compliance and the

{{00:05:33}}
onboarding sort of aspect of it.

{{00:05:35}}
What areas do you think that
financial institutions struggle with

{{00:05:39}}
the most in that, in those realms?

{{00:05:41}}
I think it's mostly
keeping up with everything.

{{00:05:45}}
Really?

{{00:05:45}}
Yeah.

{{00:05:46}}
There's always It's new regulations,
and especially if you have cross

{{00:05:50}}
border customers, then you have to pay
attention to the compliance atmosphere

{{00:05:54}}
in each country that you deal with.

{{00:05:57}}
And you have to make sure that
you are always compliant, and

{{00:05:59}}
it's not a single regulation.

{{00:06:01}}
It's different between countries,
and you have different regulations

{{00:06:04}}
based on what your business is.

{{00:06:06}}
And the financial institutions,
they have so many regulations and

{{00:06:09}}
requirements that they need to fulfill.

{{00:06:11}}
And it keeps changing as well,
especially in the ML sphere, where the

{{00:06:16}}
bad guys, they keep getting smarter.

{{00:06:18}}
They keep finding ways around the system.

{{00:06:20}}
So we have to keep making the
system better to counteract that.

{{00:06:25}}
Yeah, it's an ever changing environment.

{{00:06:27}}
You, we spoke about the sort of broad
depth of customers that you're serving.

{{00:06:32}}
You seem to be serving everybody
and everybody everywhere.

{{00:06:37}}
In terms of the size of the company, do
you think that makes a difference in terms

{{00:06:41}}
of, What those challenges then look like?

{{00:06:44}}
Yeah, so we, especially, we go after
the small and medium companies.

{{00:06:49}}
Because those are the companies that
don't have really large IT, divisions.

{{00:06:55}}
They don't have a lot of IT resources.

{{00:06:58}}
They can't just build their own system,
so what we try and do is we created

{{00:07:02}}
a SaaS solution that they can onboard
implement with them that doesn't

{{00:07:06}}
require a lot of heavy IT resources.

{{00:07:10}}
So we're trying to make all this
really big, fancy IT stuff available

{{00:07:14}}
to the smaller companies so that they
can focus on their core business.

{{00:07:19}}
And in terms of, like, how they're
using data do you, think that,

{{00:07:25}}
there's certain aspects of their
data is being underutilized, or maybe

{{00:07:30}}
it's sitting like silos somewhere?

{{00:07:32}}
I think a surprising amount of the
data is actually still on paper.

{{00:07:36}}
Really?

{{00:07:37}}
Yes.

{{00:07:38}}
Oh my goodness.

{{00:07:38}}
Yeah.

{{00:07:39}}
That, I did not expect you to say that.

{{00:07:41}}
Yeah, no, it's surprising how
much is on paper and emails.

{{00:07:44}}
Yeah.

{{00:07:44}}
Oh my goodness.

{{00:07:45}}
Yeah.

{{00:07:46}}
A lot of it is.

{{00:07:46}}
Got it.

{{00:07:46}}
Thanks for joining us and That's
why people have to get something

{{00:07:50}}
on paper and then you have
to plug it into the computer.

{{00:07:52}}
But even the ones that are better,
that are past this, they are pretty

{{00:07:55}}
much stuck in silos because you
have a system that's specialized

{{00:07:58}}
in a certain aspect of the process.

{{00:08:01}}
And you have five or six of these and
you have to manually go into each one and

{{00:08:06}}
you might have even Different teams going
into each one's taking care of different

{{00:08:10}}
aspects of that onboarding process.

{{00:08:12}}
So getting that all centralized in
one location It's a huge deal burger.

{{00:08:17}}
Absolutely.

{{00:08:18}}
In terms of in terms of Taktikal,
is that where you then come in

{{00:08:24}}
to consolidate all of this, bring
it all, enhance it in a way?

{{00:08:27}}
Yeah.

{{00:08:28}}
Yeah, that's what we do.

{{00:08:30}}
We start at the beginning and
we make sure that it's all Very

{{00:08:35}}
easily accessible to the customer.

{{00:08:37}}
We meet them where they
would like to be met.

{{00:08:39}}
So a lot of our solutions or all of
our solutions are very mobile friendly

{{00:08:43}}
because there's so many people that are
just sitting between, they're running

{{00:08:46}}
between meetings, then they have to finish
something and they have maybe started,

{{00:08:50}}
they got an email, they started on the
laptop and then they got interrupted.

{{00:08:52}}
They couldn't finish.

{{00:08:54}}
So with us, you can seamlessly
continue on your mobile device and

{{00:08:57}}
just keep going where you need to be.

{{00:09:00}}
And of course, with digital signatures,
you can finish it anywhere in the world.

{{00:09:04}}
Do you think that element of accessibility
should be a core focus within compliance

{{00:09:09}}
softwares right now, or do you think there
should be a mix of different focuses?

{{00:09:15}}
Accessibility always helps, because
if you, if your onboarding process

{{00:09:20}}
is in a way that you have to have a
certain setup, it doesn't meet everyone.

{{00:09:25}}
It doesn't meet everyone's needs.

{{00:09:27}}
And right now, the name of
the game is flexibility.

{{00:09:30}}
Being able to service a wider range.

{{00:09:33}}
of people, and yeah.

{{00:09:36}}
And in terms of Taktikal, you're
working your way through the

{{00:09:41}}
industry, you're definitely making
yourselves known with, such a good

{{00:09:45}}
demo as that we saw this afternoon.

{{00:09:48}}
What can we expect the company to do next?

{{00:09:51}}
For us, it's all about connections now.

{{00:09:54}}
We have this amazing workflow builder,
and now we want to just add more modules.

{{00:09:59}}
So we're looking at always new data
sources, new data providers, and we're

{{00:10:03}}
looking for the best ones, the ones
that give us the best, the most accurate

{{00:10:07}}
data, so that we can try and make the
process as simple as possible for the

{{00:10:11}}
customer, and for the compliance team
that has to deal with all this data.

{{00:10:15}}
We don't want to drown them in too
much data, we just want to give them

{{00:10:18}}
quality data, exactly what they need.

{{00:10:21}}
Fantastic.

{{00:10:22}}
Tinna Hallbergsdóttir, it's been
great to meet you from Tactikal.

{{00:10:26}}
And thank you for taking
the time to talk with me.

{{00:10:29}}
Thanks for having me.

{{00:10:30}}
Thank you to everybody who's joined along.

{{00:10:32}}
And if you'd like to find out more,
please head to fintechfutures.

{{00:10:35}}
com.

{{00:10:36}}
Until next time, goodbye.

Hello everybody and
welcome to Fintech Futures.

We are here today at Finovate
Europe in London, UK.

And today I'm joined by Tinna
Hallbergsdóttir the Chief

You've not long come off the
the demo stage, have you?

No, it's been a couple of hours
now, so it's mellowed down a bit.

Little bit, How did you
find doing the demo?

Always scared to have that big
light on you, but no, it went good.

I thought I thought it was
a very good presentation.

I thought you did well to make your
point and present your solution, which

we're going to talk about a little
bit more in this interview, today.

And it was also you and your CEO as well.

In terms of your solution, which
we're going to talk about before we do

that, why don't you tell us a little
bit more about who you are, your

Chief Compliance Officer, and also
what Taktikal is doing at Finovate

Yeah, my name is Tinna Hallbergsdóttir,
which absolutely no one can pronounce.

I'm so sorry, I told you
that in the beginning.

So I've been at Taktikal for a couple
of years now Chief Compliance Officer.

I handle everything related to security,
privacy, and all of our AML processes

I spent 12 years in insurance and
there I was doing various things.

I was head of the service desk
head of IT, and risk management.

I'm quick to call my name when
something compliance related comes up.

And about Taktikal it's
an Icelandic company.

Can you tell us a little bit
more about what they're doing?

So Taktical was founded about seven years
ago to work on onboarding solutions.

The founders all have a vast
experience of working in banks.

We've got a couple of IT
guys and a business guy.

So they've all got very nice
insights into the banking environment

And they wanted to create something new
and help people get customers sooner.

So the onboarding process
ideally shouldn't take more

And from that we took a sidestep into
digital signatures and we have our

own digital signature platform with
various types of digital signatures.

And so most of our workflows, or
all of our workflows, start with

interaction with a customer and end
with a digitally signed document.

And then after that we sprinkle
a little automation on it.

I can imagine as chief compliance
officer in a company like that, you

There's always some new regulations
new stuff that I need to look into and

And then there's always these
meetings advising our customers

on how they can become compliant
and building their workflows.

And you work primarily with
financial institutions.

We work with banks, we work with
insurance, we work with new payment

stream companies some fintech
solutions, but we also work with

And the the, needs of all of those
customers, different customers must

be, Quite difficult to adhere to,
but you've done well, and I could

In terms of your attendance at
Finovate this year, Finovate Europe.

Way a little bit over halfway through
day one, what do you make of it so far?

It's so fun to see all the other
companies and what they're doing.

Yeah, and I can see partner
opportunities everywhere.

Have you had a lot of good conversations?

FinTech Futures

Expert Insight

At FinovateEurope 2024, we caught up with Tinna Hallbergsdóttir, chief compliance officer at Taktikal, to discuss how the Iceland-based vendor's digital onboarding and electronic signature solutions are inspiring the global business sector to overcome age-old challenges in compliance.