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A more agile start to entrepreneurship and student benefits - this is how OP has utilised the Data Exchange Layer

Publication date 7.2.2022 10.23
Press release

Thanks to the Data Exchange Layer, Finland’s largest financial consortium OP Financial Group has been able to develop its services to be more customer-oriented. The Data Exchange Layer's instant data transfer has enabled new features in both the mobile payment application Pivo and the OP Light Entrepreneurship service.

For OP, the utilisation of the Data Exchange Layer has opened new doors and business opportunities: The Data Exchange Layer interface makes it possible to connect a student card without delay to the Pivo application. Thanks to the Data Exchange Layer, an entrepreneur can authorise the OP Light Entrepreneurship service as their legal representative for accounting already during the establishment of the company. The service helps automatically keep the company's accounts and tax returns.

Before joining the Data Exchange Layer, neither of these features was possible. Previously, authorisations in the OP Light Entrepreneurship service had to be granted through a manual power of attorney, which was submitted to the tax authority as an appendix to the form establishing the business ID.

‘The current automatic method is considerably lighter and more agile. The Data Exchange Layer has been used to integrate our service directly into MyTax,’ explains Markus Sarja, who is the project manager of Pivo Wallet Oy.

The student card feature was decided to be added to Pivo as the Data Exchange Layer made it possible: The interface allows you to retrieve valid student card data as soon as you log in. This means that the application's student discounts are available immediately, among other benefits.

New opportunities at the core of business

In both cases, Sarja emphasises the importance of the new features for their business. 

‘In OP Light Entrepreneurship, we would not be able to operate on such a large scale without the Data Exchange Layer. 20,000 customer entrepreneurs are such a large customer base that the automation of the background process must be in order for us to manage their accounting. I would say that giving authorization for accounting when setting up a company is a critical part of the process that is at the heart of this business,’ says Sarja.

Pivo is an application aimed at the masses and young people are the first to adopt new ways of paying. For this reason, the aim has been to develop new digital features that are particularly useful for the student target group. Another key factor behind Pivo's student card feature is that data on valid student cards can be retrieved from the interface in bulk.

Automation saves resources for both the team and the authorities

As regards the advantages of the Data Exchange Layer, Sarja points out that the current operating model saves resources and speeds up the service both in the OP Light Entrepreneurship's own team and on the Tax Administration's side. Previously, using the services had to be done by telephone. Now, the Data Exchange Layer makes it possible to handle tax matters on behalf of an entrepreneur directly in MyTax.

 ‘Of course, on Pivo, data could also be retrieved and entered manually - but is that a way of doing digital business?’ wonders Sarja.

The Data Exchange Layer is a sensible solution for companies producing mass services

Sarja would recommend the introduction of the Data Exchange Layer especially for organisations that produce services for the masses and need daily data that is only administered by the authorities.

‘I am particularly grateful for the fact that the Data Exchange Layer has enabled our clients to gain new user experiences and ways to manage their affairs. For example, in the Light Entrepreneurship service we have been able to create a new way of working as an entrepreneur.’ For us, this means that instead of an accounting firm, we are the enabler of entrepreneurship. For our customers, this means that anyone can be an entrepreneur.’

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