One Does Not Simply... Buy from Fintechs with Markus Niemi-Nikkola, Chief Procurement Officer, Savings Bank

In this episode, Pål and Ville sit down with Markus Niemi-Nikkola, Chief Procurement Officer at Savings Bank and quickly realise that procurement might be one of the most misunderstood (and critical) functions in banking.

What starts as a conversation about sourcing and vendor management turns into a deeper look at how banks actually get things done behind the scenes: from navigating legacy systems and regulatory expectations to balancing cost, control, and innovation without breaking everything in the process.

Markus shares:

.- Why procurement in banking is far more strategic than most people think

.- How vendor ecosystems shape what banks can (and can’t) build

.- The real-world tension between innovation ambitions and procurement realities

.- Why “just buy the best solution” is rarely that simple

.- Why AI bots are not going to handle all sides of procurement anytime soon (if ever) in banking.

Naturally, Pål and Ville do their part by poking at the usual pressure points of speed vs control, build vs buy, and whether procurement is enabling innovation or politely slowing it down for everyone’s safety.

Somewhere along the way, it becomes clear that while fintech loves to talk about disruption, someone still has to sign the contracts, manage the risks, and make sure the whole thing doesn’t collapse under its own enthusiasm.

As it turns out, procurement isn’t boring; it’s a fascinating topic hiding in plain sight.

Episode hosted by Pål Krogdahl & Ville Sointu

Episode produced and edited by Fintech Daydreaming

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- Ville Sointu - https://www.linkedin.com/in/ville-sointu-54682b/