On March 16th together with the FinTech Hub in Stockholm we have launched a pilot training on executive education in FinTech with the focus on hands-on solutions for Fintech companies.

1. BUILDING A TRUST-
DRIVEN FINTECH
UNICORN
MICHAL GROMEK
RESEARCHER ON FINTECH & CROWDFUNDING
#SE.LINKEDIN.COM/IN/MGROMEK
STOCKHOLM
SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
INTRODUCTION SESSION
TO FINTECH EXECUTIVE EDUCATION
STOCKHOM FINTECH HUB
MARCH 16TH 2018
Source: https://digitalready.co/
blog/online-reputation-management-tools-and-best-practices
PILOT SESSION

2. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
PLEASE STAND UP

3. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
PLEASE SIT DOWN IN CASE YOU
HAVE NEVER DONE AN ONLINE
BANK TRANSFER TO SOMEBODY
ELSE.

4. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
PLEASE SIT DOWN IN CASE YOU
HAVE NEVER DONE A
TRANSACTION OF A MULTISIDED
PLATFORM LIKE: AMAZON, EBAY,
TRADERA, UBER
ON

5. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
PLEASE SIT DOWN IN CASE YOU
HAVE NEVER TRAVELLED WITH
AIRBNB.

6. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
PLEASE SIT DOWN IN CASE YOU
DON'T OWN ANY OUT OF 1525
TYPES OF CRYPTOCURRENCIES
(LIKE BITCOIN, ETHEREUM,
RIPPLE)
Source: 1525 cryptocurrencies - h4ps://coinmarketcap.com/all/views/all/ (March 18th 2018)

7. # Researcher on FinTech (SSE)
>>> Adoption and trust of Blockchain technology
# Head of Compliance - Cryptocurrency
# Head of Int. Finance - FundedByMe.com
# Country Head - Rocket Internet (FInTech)
# Board Member of a FinTech company
# Co-Author: Book, The Rise and Development of
FinTech, Accounts of Disruption from Sweden and Beyond,
Next Wave of FinTech Insurtech & Regtech (open access)
# Author: Stockholm FinTech Report 2018 (open access)
# Trainer Security Commission Malaysia
## Travel book author (in the future :)
#GOOD TO SEE YOU
#STAY IN TOUCH: HTTPS://WWW.LINKEDIN.COM/IN/MGROMEK/
HTTPS://WWW.SLIDESHARE.NET/MICHALGROMEK
on

8. # Stockholm FinTech Report 2015 - June 2015
# Stockholm FinTech Update 2016 - June 2016
# Chasing the Unicorns 2016 - October 2016
# Informal Networks in Stockholm - November 2017
# The next wave of FinTech, InsurTech and RegTech -
December 2017
# Stockholm FinTech Report 2018
# Book: The Rise and Development of FinTech
Accounts of Disruption from Sweden and Beyond
CONTINUES OBSERVATION OF FINTECH
CENTER FOR STRATEGY AND COMPETITIVENESS
WAS FOUNDED IN 2005
AND FOCUSES ON FIVE RESEARCH TRACKS: STRATEGY & MARKET SYSTEMS,
INTERNATIONAL BUSINESS, KNOWLEDGE IN NETWORKS, CLUSTERS, AND
COMPETITIVENESS POLICY.

9. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
OBJECTIVE FOR TODAY
> SHIFT TOWARDS DISTRIBUTED OF TRUST
> IMPACT ON YOUR FINTECH VENTURES
> HANDS ON TOOL TO GAIN FROM THIS PROCESS
>>>
S
OBJECTIVES FOR TODAY:

10. BIGGEST DISCLOSED INVESTMENTS 2015 - Q2 2017
CUMULATIVE DATA, BASED ON NORDIC TECH LIST
*KLARNA HAS RECEIVED 31.9 MILLION EURO IN INVESTMENT IN JUNE 2016 BUT THE
INVESTOR
REMAINS UNDISCLOSED, 18M FROM VISA HAS BEEN DISCLOSED AFTER CLOSURE OF THE
DATA COLLECTION OF THIS REPORT
CUMULATIVE DATA, BASED ON NORDIC TECH LIST. KLARNA HAS RECEIVED 31.9 MILLION EURO IN INVESTMENT
IN JUNE 2016 BUT THE INVESTOR REMAINS UNDISCLOSED, 18M FROM VISA HAS BEEN DISCLOSED AFTER
CLOSURE OF THE DATA COLLECTION OF THIS REPORT

11. 0
10
20
30
40
50
Item 1 Item 2 Item 3 Item 4 Item 5
STOCKHOLM PATHWAY TO COMPLEX FINTECH
PAYMENTS
EQUITY
COMPLEXITY
VALUE
ROBOADVISORY
LENDING
INT. TRANSFER
WEALTH
MANAGEMENT
BLOCKCHAIN
BASED
INSURTECH
REGTECH
GDPR & PSD2
BLOCKCHAIN
BEYOND
BANKING
INITIAL COIN
OFFERING
(ICO)
PAYMENT
OF THINGS
(POT)
TODAY

12. STOCKHOLM
SCHOOL OF ECONOMICS
UNICORNS TEND TO BE PLATFORMS
(115 UNICORNS)
SOURCE: P. EVANS, CGE; CB INSIGHTS, CAPITAL IQ, CRUNCHBASE, 2015
NON PLATFORN
30%
PLATFORM
70%

13. CLICK HERE FOR MORE INFORMATION ABOUT
PIPES VS PLATFORM BUSINESS MODEL
PLATFORM LEVERAGE NETWORK EFFECTS >>>
HTTP://WWW.SLIDESHARE.NET/ETEIGLAND/NEW-INDUSTRIAL-REVOLUTION-AND-DIGITAL-BUSINESS-MODELS?
QID=61CF5C5C-CE83-4E1E-BEBF-4571B011D7C4&V=&B=&FROM_SEARCH=2 (ACCESSED FEBRUARY 2017)
METCALFE’S LAW:
MORE USERS = MORE VALUE = MORE USERS…
2 PHONES
12 CONNECTIONS
5 PHONES 12 PHONES
60 CONNECTIONS

14. ADAPTED FROM PARKER & VAN ALSTYNE, WITH CHOUDARY, 2016, AND UPDATED JANUARY 2017
HTTP://WWW.SLIDESHARE.NET/ETEIGLAND/NEW-INDUSTRIAL-REVOLUTION-AND-DIGITAL-BUSINESS-MODELS?
QID=61CF5C5C-CE83-4E1E-BEBF-4571B011D7C4&V=&B=&FROM_SEARCH=2 (ACCESSED FEBRUARY 2017)
POWER OF MULTISIDED PLATFORM
WORLD LARGEST ACCOMENDATION
PROVIDER OWNS NO PROPERTY
WORLD LARGEST TAXI COMPANY
OWNS NOT A SINGLE CAR
WORLD LARGEST RETAILER DOESN'T
OWN A WEARHOUSE
WORLD LARGEST MEDIA COMPANY
DOESN'T CREATE CONTENT
- BUT HOW TO GROW A PLATFORM?

15. STOCKHOLM
SCHOOL OF ECONOMICS
TAKE A PIECE OF PAPER
OR THE ELECTRONIC
EQUIVALENT.

16. HOW DO YOU
CHOOSE A
RESTAURANT
IN ITALY?

17. STOCKHOLM
SCHOOL OF ECONOMICS
WE TEND TO VISIT
CROWDFUNDED OR
KNOWN RESTAURANTS
INSTEAD OF NEW PLACE
WHY DO THINK THAT THIS IS THE
CASE?
S

18. STOCKHOLM
SCHOOL OF ECONOMICS
1. YOU WOULD LIKE TO BUY FOUR TYERS FOR YOUR CAR - ONLINE.
2. YOU HAVE FOUND THE PRODUCER AND MODEL OF YOUR
3. CHOICE. ON A PRICE COMPERING WEBSITE.
4. YOU FIND SEVERAL WEBSHOPS WHICH OFFER THE SAME
PRICING, DELIVERY TIME AND PAYMENT METHOD
WHAT ARE THREE MAIN POINTS, HOW YOU
CHOOSE FROM WHICH WEBSHOP DO YOUR BUY?
INDIVIDUALLY. ONE MINUTE

19. STOCKHOLM
SCHOOL OF ECONOMICS
SHARE YOUR RESULT WITH 4 OF
YOUR NEIGHBOURS.
SUMMARIZE YOUR MOST IMPORTANT
CONCLUSIONS INTO
ONE SENTENCE.
(4 MINUTES)

20. STOCKHOLM
SCHOOL OF ECONOMICS
THIS PLACE MUST BE SAFE TO BUY FROM.
THERE ARE LOTS OF PEOPLE WHO HAVE
ASSESSED THIS STORE AND CONCLUDED
THAT IT'S A GOOD STORE TO BUY FROM.
THE DEALS IN THIS STORE MUST BE
PRETTY GOOD BECAUSE LOTS OF PEOPLE
ARE BUYING, AND THEY WOULDN'T BE
BUYING IF THE DEALS WEREN'T GREAT.
SOURCE:
HTTPS://WWW.FASTCOMPANY.COM/3016506/DIALE
D/THE-SECRET-POWER-BEHIND-WHY-WE-PICK-
BUSY-RESTAURANTS-OVER-EMPTY-ONES
SELECTED QUOTES:

21. ONLINE CURRENCIES
STOCKHOLM
SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
MONEY IS THE CURRENCY
OF TRANSACTIONS
ADOPTED FROM R.BOTSMAN
TRUST IS THE CURRENCY
OF INTERACTIONS

22. PHONE CHALLENGE
STOCKHOLM
SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
ADOPTED FROM R.BOTSMAN
PLEASE TAKE OUT YOUR PHONE
AND UNLOCK IT.

23. PHONE CHALLENGE
STOCKHOLM
SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
ADOPTED FROM R.BOTSMAN
PLEASE TAKE OUT YOUR PHONE
AND UNLOCK IT.
PLEASE EXCHANGE IT WITH THE
PERSON SITTING NEXT TO YOU
(UNLOCKED) FOR 20 MINUTES.
YOU CAN DO WHATEVER YOU WANT
ON THIS PHONE FOR 20 SEC.
SEC.

24. #STAY IN TOUCH: HTTPS://WWW.LINKEDIN.COM/IN/MGROMEK/
HTTPS://WWW.SLIDESHARE.NET/MICHALGROMEK
Source: h*ps://www.instagram.com/p/W2BuMLQLRB/ (March 15th 2018)

25. #STAY IN TOUCH: HTTPS://WWW.LINKEDIN.COM/IN/MGROMEK/
HTTPS://WWW.SLIDESHARE.NET/MICHALGROMEK
Source: h*ps://www.instagram.com/p/W2BuMLQLRB/ (March 15th 2018)

26. STOCKHOLM SCHOOL OF
ECONOMICS EXECUTIVE EDUCATION
SHIFT OF TRUST FROM VERTICAL TO HORIZONTAL
AUTHORITY / ELITES / EXPERTS DECENTRALISED TRUST
FRIENDS
PAGE WITH REVIEWS
VLOGER
SOCIAL MEDIA
Adopted from R.Botsman

27. ORIGINS OF TRUST
STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
LOCAL TRUST
(RURAL ORIGIN)
INSTITUTIONAL
TRUST
INFRASTRUCTURE /
ITEMS /
DECENTRALISED
(DIRECT)

28. DEVELOPMENT PATH
STOCKHOLM
SCHOOL OF ECONOMICS
INTERPERSONAL
TRUST
INSTITUTIONAL
TRUST
- BRAND
INSTITUTIONAL
TRUST
- PLATFORM

29. DEVELOPMENT PATH
STOCKHOLM
SCHOOL OF ECONOMICS
INTERPERSONAL
TRUST
INSTITUTIONAL
TRUST
- BRAND
INSTITUTIONAL
TRUST
- PLATFORM

30. PERSONAL INTERNET PATH -
25 YEARS+
STOCKHOLM
SCHOOL OF ECONOMICS
OBSERVATION SOFT
PARTICIPATION:
EMAIL
NEWS ARTICLE
COMMENTS
FULL
PARTICIPATION:
PAYMENTS
TRAVEL
UBER

31. ONLINE TRUST
STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
FIRST WAVE:
SHARING
COMMUNICATION
SECOND WAVE:
TRANSACTIONAL
(EBAY)
THIRD WAVE:
MULTILEVEL
(EXPERIENCE)

32. BUSINESS & TRUST
STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
E-COMMERCE
MULTISIDED
PLATFORM
COMMUNITY

33. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
THE ADOPTION OF TECHNOLOGY
IS UNIQUE FOR EACH SUBSECTION OF
FINTECH.
= TRUST HAS A SIGNIFICANT IMPACT.

34. STOCKHOLM SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
THE ADOPTION OF TECHNOLOGY
IS UNIQUE FOR EACH SUBSECTION OF
FINTECH.
= TRUST HAS A SIGNIFICANT IMPACT.
high trust level
time

35. WHAT HAPPENED IS CALLED
A "TRUSTLEAP".
STOCKHOLM
SCHOOL OF ECONOMICS
Some companies have
breached our trust.
Do you remember how
and if they decided
to fix it?
ADOPTED FROM R.BOTSMAN

36. WHAT HAPPENED IS CALLED
A "TRUSTLEAP".
STOCKHOLM
SCHOOL OF ECONOMICS
In case the "new user" of the
Phone would breach the initial
trust there are following tools
to fix it:
Lack of accountability
Responsiveness
Ownership
Empathy
Human impact
Accountability
ADOPTED FROM R.BOTSMAN

37. WE STILL "IMPORT" TRUST
STOCKHOLM
SCHOOL OF ECONOMICS

38. STOCKHOLM
SCHOOL OF ECONOMICS
THE POWER
OF SOCIAL PROOF?
SOMETIMES REFERRED TO AS
WISDOM OF THE CROWD.
BEHAVIOUR ECONOMICS:
HEURISTICS ARE SIMPLE, EFFICIENT
RULES WHICH PEOPLE OFTEN USE
TO FORM JUDGMENTS AND MAKE
DECISIONS. THEY ARE MENTAL
SHORTCUTS THAT USUALLY
INVOLVE FOCUSING ON ONE
ASPECT OF A COMPLEX PROBLEM
AND IGNORING OTHERS.

39. SHARING ECONOMY:
STOCKHOLM
SCHOOL OF ECONOMICS
“PEOPLE GENERALLY ARE MORE
COMFORTABLE
MEETING NEW PEOPLE USING
TECHNOLOGY.”
SOURCE: THE ECONOMIST, ALL EYES ON THE SHARING ECONOMY (MAR. 9, 2013),
HTTP://WWW.ECONOMIST.COM/NEWS/TECHNOLOGYQUARTERLY/21572914-COLLABORATIVE-CONSUMPTION-
TECHNOLOGY-MAKES-IT-EASIER-PEOPLE-RENT-ITEMS

40. TRUST TOWARDS A PLATFORM
- PRESS BRANDING
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: HTTP://WWW.FILIPETRABBOLD.COM.BR/

41. TRUST TOWARDS A PLATFORM -
CUSTOMER REVIEWS
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: CARSPRING.CO.UK > TRUSTPILOT / OPINEO.PL

42. TRUST TOWARDS A PLATFORM -
AWARDS, CERTIFICATES
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: HTTP://WWW.ONLINE-KREDITE.COM/
CREDITPLUS-KREDIT.HTML
SOURCE: OWN CREATION
WIFI PIE
DOWNLOAD OUR WIFI PIE
DATA PROTECTED BY TUV
www.wifipie.com

43. WHAT IS THE DIFFERENCE BETWEEN:
EXPERIENCE
IDEA HOW
SOMETHING MIGHT BE
MOSTLY GRAPHIC IDENTITY,
CHOSEN COLOURS ETC.
REPUTATION?
ASPECTSOFTRUST
IMAGE?
IDENTITY?
CV

44. REPUTATION AS
CURRENCY?
DARKMIRROR
SEASON 3.01
NOSEDIVE
STOCKHOLM
SCHOOL OF ECONOMICS

45. REVIEW SYSTEMS
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: BENEDICTE DAMBRINE, USER
REPUTATION, BUILDING TRUST AND
ADDRESSING PRIVACY ISSUES IN THE
SHARING ECONOMY, FUTURE OF PRIVACY
FORUM, JUNE 2015
"You have three facebook friends
in common between the car
owner and yourself"

46. REVIEW AS CURRENCY:
"... RATING DROPS BELOW 4.6. (...) IF
YOUR RATINGS CONTINUE TO STAY
LOW, YOU’LL BE DEACTIVATED."
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: /WWW.RIDESHARINGDRIVER.COM
/FIRED-UBER-DRIVERS-GET-DEACTIVATED-
AND-REACTIVATED/

47. LOG IN: LIMIT MISBEHAVIOUR
IN YOUR COMMUNITY
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: HTTP://DEMO.VERIDU.COM/PAYMENTS/

48. BEGINNING:
STAR RATING
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: DCCOINSANDCOLLECTIBLES.COM/REVIEWS-AND-RATINGS/ (EBAY SELLER)

49. INCREASE TRUST FOR PLATFORMS.
> LIMIT MISBEHAVIOUR IN YOUR
COMMUNITY
> UNDERSTAND HOW USERS
COMMUNICATE BETWEEN
EACH OTHER
> HELP THEM
STOCKHOLM
SCHOOL OF ECONOMICS

50. HELP YOUR USERS - AIRBNB
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: JOE GEBBIA: HOW AIRBNB DESIGNED FOR TRUST,
HTTPS://WWW.TED.COM/TALKS/JOE_GEBBIA_HOW_AIRBNB_DESIGNS_FOR_TRUST?LANGUAGE=EN

51. HELP YOUR USERS - AIRBNB
STOCKHOLM
SCHOOL OF ECONOMICS
SOURCE: JOE GEBBIA: HOW AIRBNB DESIGNED FOR TRUST,
HTTPS://WWW.TED.COM/TALKS/JOE_GEBBIA_HOW_AIRBNB_DESIGNS_FOR_TRUST?LANGUAGE=EN

52. "TRUST IS TRANSLATABLE TO
REPUTATION AND
REPUTATION UNLOCKS A
NEW POWER OF YOURSELF
IN THE COMMUNITY" -
RACHEL BOTSMAN
STOCKHOLM
SCHOOL OF ECONOMICS

53. IT IS IMPORTANT FOR YOUR STARTUP
BECAUSE:
VALUE OF NON-FINANCIAL ASPECTS OF A VALUATION
(REPUTATION + INTELLECTUAL PROPERTY)* - GOOGLE
84%, APPLE 87%**
STOPS THE COMPETITION FROM ENTERING THE
MARKET***
YOU HELP CUSTOMERS TO HELP THEM
SUCCEED :)
SOURCE:
* TOMASZ J. DABKOWSKI, REPUTACJA PRZEDSIEBIORSTWA, OFFICYNA, CRAKOW 2010, P.32-P.33
** M PORTER, STRATEGIA KONKURENCJI, METODY ANALIZY SEKTORÓW I KONKURENTÓW, PAŃSTWOWE WYDAWNICTWO
EKONOMICZNE, WARSZAWA 1994, S.25

54. BUILDING A TRUST-
DRIVEN FINTECH
UNICORN
MICHAL GROMEK
RESEARCHER ON FINTECH & CROWDFUNDING
#SE.LINKEDIN.COM/IN/MGROMEK
STOCKHOLM
SCHOOL OF ECONOMICS
EXECUTIVE EDUCATION
INTRODUCTION SESSION
TO FINTECH EXECUTIVE EDUCATION
STOCKHOM FINTECH HUB
MARCH 16TH 2018
Source: https://digitalready.co/
blog/online-reputation-management-tools-and-best-practices