Penneo Expands Its Presence on the Finnish Market

Published Date: 23 September 2020 | 2 min read

Penneo expands its presence to the Finnish market

Penneo is expanding its presence in the Finnish market, with a focus on helping Finnish audit and accounting companies to digitize their business processes and document workflows.

Having already worked with some of the largest audit and accounting companies in Scandinavia, Finland is a natural next step towards reaching our ambition of becoming the global standard for audit and accounting companies.

 

Integrating with the Finnish Trust Network

To help auditors and accountants in Finland with their digital transformation, we are currently building an integration with the Finnish Trust Network. We look forward to soon being able to enable audit and accounting companies to use Finnish eIDs for safe customer identification, onboarding, and other digital transactions.

The Finnish Trust Network is a framework established by the Finnish government to create a more secure and centralized way for application providers like Penneo to make use of multiple identity device providers (such as banks and telecommunication companies) with a single integration. This makes it significantly easier for Penneo to provide Finnish citizens and companies with a secure solution to identify themselves online and perform digital transactions.

 

A shared focus on security

One of the main reasons the Finnish Trust Network was introduced in Finland is security. The previous method used for identity authentication lacked many security features deemed essential to comply with the EU’s eIDAS regulation.

Additionally, Finland also introduced new data privacy and protection regulations that are much more extensive than the existing EU-wide regulations. This means that companies in Finland have an even bigger duty to process personal data responsibly.

Penneo is built with security and compliance in mind, making it a great fit for security-conscious Finnish companies. When using Penneo, our customers can be confident that they are managing data and documents in a secure and compliant way.

Helping Finnish audit and accounting companies with their digital transformation

Penneo is ready to help audit and accounting companies to manage and automate processes related to the annual report, customer onboarding, KYC, engagement letters, and the annual general meeting. With our solution, auditors and accountants increase efficiency and free up time spent on administrative labor to allocate more resources to listening to their clients' needs and identifying fitting solutions.

Some of our current customers in Finland have been using Penneo for digital transactions with business partners in countries like Sweden, where Penneo supports the Swedish eID. We are looking forward to being able to support the Finnish eIDs through the integration with the Finnish Trust Network, and in this way enable more companies in the Nordics to collaborate and facilitate the exchange of information and digital transactions.

Similarly, the integration with the Finnish Trust Network will also create value for our current customers with offices across the Nordic region. It will make it much easier to digitally sign and manage document transactions with their respective departments in Finland using our secure platform.