Harry Leinonen, Advisor to the Board, Financial Markets and Statistics (until January 2012)

Harry Leinonen was Advisor to the Board of the Bank of Finland and is in charge of payment and settlement system policy issues.  He has over the years participated in several domestic and international authorities' working groups on payments and securities settlement.

He joined the Bank of Finland in 1996 and moved to Ministy of Finance in Finland from February 2012. Before that he worked in the banking industry for about 20 years and especially in managerial positions connected to payment system activities, within both the savings banks’ and cooperative banks' groups in Finland.

For most of the past 30 years he has been active in developing interbank payment systems and standards within the Finnish banking community. Mr Leinonen has also been active on international payment system forums throughout his career and has published several articles and books on payment system issues.

Harry Leinonen was born in Helsinki in 1951. He holds a Master’s degree in economics and a Bachelor’s degree in Business Administration.

2011

"Debit card interchange fees generally lead to cash-promoting cross-subsidisation" , Bank of Finland discussion papers, 3/2011

2010

"Future payments - mobile, social or sociomobile?", SPEED Vol 4 No 4, Summer 2010

”The Changing Retail Payments Landscape: An Overview” in the International Payments Policy Conference Proceeding of the Federal Reserve Bank of Kansas City The Changing Retail Payment Landscape: What Role for the Central Banks, Summer 2010

"Transparent price competition of two-sided subsidisation in card payments? Is there a need for a more efficient business model for the card industry?" Payments Strategy & Systems, Vol 4 No 2, June 2010

"From two-sided subsidization to transparent price competition in card payments -Potential benefits of a more efficient business model" , May 2010

"Fördelaktigare betalsystem genom transparent prissättning", Ekonomista Samfundets Tidskrift, 1/10 (Available only in Swedish)

Leinonen H. (2010), "Simulation as a tool in studying payment and settlement systems", in Kahn, C.M. (ed.), Effective Oversight of Payment and Settlement Systems: Maintaining financial plumbing, The Marketing & Management Collection, Henry Stewart Talks Ltd, London (online at http://hstalks.com/?t=MM1092545-Leinonen)

2009

(-ed.) "Evolving payment habits", Bank of Finland Expository studies, A:113, 2009

"The Changing Retail Payment Landscape: An overview ", October 2009 

(- & Sampo Alhonsuo, Ed. Esko Roos) "Pankkikriisien toistuva kaava", O & P, 3/2009 (Available only in Finnish)

(-ed.) "Simulation analyses and stress testing of payment networks", Bank of Finland Studies, E:42 2009

"Europe's payments follow national paths", SPEED, Central Banking Publications Limited, Vol 3 No 4, Spring 2009 

(- & Sampo Alhonsuo) "Pankkikriisit toistavat samaa kaavaa", Euro & Talous, 1/2009 (Available only in Finnish)

2008

"How Could Mobile GSM Experiences be Used to Increase Card Payment Efficiency?", gtnews.com (available for download, www.gtnews.com), December 2008

(- & Sampo Alhonsuo) "Pankkikriisit noudattavat samaa kaavaa - Pankkikriisien yleisestä anatomiasta " , BoF Online 16/2008 (Available only in Finnish)

"Restructuring Value Transfer Structure for Efficient Real-Time Economy Processing" , EDS and CROSSTALKS: Semantic Interfaces and Key Opportunities of SEPA, Edited by Marleen Wynants, June 2008

"Authorities' changing role in payments", SPEED, Central Banking Publications Limited, Vol 2 No 4, Spring 2008

"After 2010: Will the Customer become king?" , The Future of Finance after SEPA, Edited by Chris Skinner, Spring 2008

"Payment habits and trends in the changing e-landscape 2010+ ", Bank of Finland Expository studies, A:111, 2008 (Russian translation, Перевод на русский язык)

2007

From plastic to bits – payment habits are changing", Bank of Finland Bulletin, 4/2007

"Maksaminen maksaa liikaa" , Talouselämä, 42/2007

"Six trends in European payments", SPEED, Central Banking Publications Limited, Vol 2 Summer 2007

(-ed.) "Simulation studies of liquidity needs, risks and efficiency in payment networks" , Bank of Finland Studies, E:39 2007

"On the efficiency of multilateral interchange fees (MIFs) " , BoF Online, 4/2007

"The Efficiency Of Multilateral Interchange fees" , gtnews.com, May 2007

"How to reap the benefits from e-invoicing" , SPEED, Central Banking Publications Limited, Vol1 No 4 Spring 2007

"Interview on the Payment Industry: Facing new Challenges" , Communications & Strategies, Idate, No 66 / 2^nd quarter 2007

"Basics of Efficiency and STP in securities Processing" , gtnews.com, Feb 2007

2006

"Understanding the Changing Economics of SEPA", gtnews.com, Aug 2007

"Euroopan maksu- ja selvitysjärjestelmät muutosten kourissa" , Suomen Pankki , A:109 2006 (Suomen Pankki, EMU ja rahoitusmarkkinat, ed. Pentti Pikkarainen and Antti Suvanto)

"Bank provided e-invoicing structures and benefits" , Appendix to EU Comission Next Steps (in SEPA) proposal,  Feb 2006

2005

"Benefits of a common financial transfer message (FTM)", TWIST standards, Sep 2005

(-ed.) "Liquidity, risks and speed in payment and settlement systems – a simulation approach" , Bank of Finland Studies, E:31 2005

2004

(- &Kimmo Soramäki) "Simulation: A powerful research tool in payment and settlement systems" , Payment Systems Worldwide, Autumn 2004, and also published in Journal of Financial Transformation, Payments Vol 12 – December 2004

"Simulointimallit maksu- ja selvitysjärjestelmien uutena tutkimusvälineenä", Kansantaloudellinen Aikakausikirja, 2/2004 

2003

(- & Kimmo Soramäki) "Simulating interbank payment and securities settlement mechanisms with BoF-PSS2 simulator" , Bank of Finland discussion papers, 23/2003

"Restructuring securities Systems for Maximum Efficiency" , Payment Systems Worldwide, Winter 2003-2004

"Développement de la Banque en ligne dans les Pays Nordiques" , Revue d el'Économie Financière Les Métiers financière face à Internet, Revue D'Économie Financière, No 69, 2003

"Restructuring securities systems processing - a blue print proposal for real-time/t+0 processing " , Bank of Finland Discussion papers, 7/2003

(- &Timo Iivarinen, Matti Lukka and Veikko Saarinen) "Regulation and control of payment system risks – a Finnish perspective " , Bank of Finland Studies, A:106, 2003

2002

"Network-Based Payments and E-Settlement" , Payment Systems Worldwide, Autumn 2002, also published in Journal of Financial Transformation, Payments Vol 12 – December 2004

"Network-based payments and e-settlement – a long-term perspective " , Bank of Finland Bulletin 4/2002

(- & Veli-Matti Lumiala and Riku Sarlin) "Settlement in modern network-based payment infrastructures – description and prototype of the E-Settlement model " , Bank of Finland discussion papers 23/2002

2001

"Redesigning International Payment Systems I and II" , Payment Systems Worldwide, Summer and Autumn 2001 also published in Central Bank Publishing E-money and Payment Systems Review April/2002

"Developments in retail payment systems " , Bank of Finland Bulletin 2/2001 also published in BIS papers Nr 7 2001

2000

"Re-engineering Payment Systems for the E-world " , Bank of Finland Discussion papers 17/2000

1999

"Maksuliikkeen likviditeetin hallinnan uudet haasteet " , Suomen Pankki, Euro & talous 4/1999

"Management of liquidity in payment systems: new challenges " , Bank of Finland Bulletin 4/1999

(- & Ralf Pauli) "Bank of Finland’s oversight of payment and settlement systems " , Bank of Finland Bulletin 3/1999

(- & Ralf Pauli) "Suomen Pankin tehtävät maksu- ja selvitysjärjestelmien yleisvalvonnassa " , Suomen Pankki, Euro & talous 3/1999

(- & Soramäki Kimmo) "Optimizing Lquidity Usage and Settlement Speed in Payment Systems " , Bank of Finland, Discussion papers 16/1999

1998

"Interbank funds transfer systems: liquidity needs, counterparty risks and collateral " , Bank of Finland Discussion papers 16/1998

"Maksuliikkeen katteensiirtojärjestelmät: likviditeettitarpeet, vastapuoliriskit ja vakuuskäytännöt " , Suomen Pankki, Keskustelualoite 9/98

(- & Saarinen Veikko) "Payment system risks in Finland and the need for regulation and supervision " , Bank of Finland Studies A:101, 1998

(- & Saarinen Veikko) "Suomalaiset maksujärjestelmäriskit niiden sääntely- ja valvontatarpeet " , Suomen Pankki, Sarja A:100

2011

Discussant comments on: Quantifying interlinkages between banks and banking systems Workshop for Non-Regulatory Central Banks, Bank of England, London (30 May 2011)

Discussant comments on Do newspaper articles on card fraud affect debit card usage? The future of retail payments: Opportunities and challenges, ECB and EONB, Vienna (12 May 2011)

Discussant comments on Fraud, Investments and Liability Regimes in Payment Platforms The future of retail payments: Opportunities and challenges, ECB and EONB, Vienna (12 May 2011)

Arvopapereiden muuttuva maailma, Finanssifoorumi (9 May 2011) Min of Finance (Available only in Finnish) 

Future infrastructure developments in the securities industry? - SESA in the pipeline?, Background document, (28 April 2011), Min of Finance

Contactless future, Visa Member Forum in Finland, Visa payWare workshop, Helsinki (12 April 2011) 

e - SEPA - Where Do These Initiatives Stand? International Payment Summit 2011 Royal Lancaster Hotel, London (21 March 2011)

Maksamisen muuttuva arki, Tieteiden yö 2011, Helsinki (13 January 2011) (Available only in Finnish)

2010 

Future of Retail Payments, 9th SEACEN-CPSS, Malaysia (25 November 2010)

Risk-focused Approach to Oversight, 9th SEACEN-CPSS, Malaysia (24 November 2010)

Solving Interoperability Challenges, Panel Discussion, 9th SEACEN-CPSS, Malaysia (23 November 2010)

Interoperability and standard settings for payment & settlement systems: Overview of issues and development, 9th SEACEN-CPSS, Malaysia (22 November 2010)

Non-transparency as barrier to progress, SEPA CIM Reflection Group, Brussels (27 September 2010) 

New media and non-banks, Central Banking Events: Effective Oversight of Payment and Settlement Systems, UK (2 September 2010)

Emerging standards: development and governance, Central Banking Events: Effective Oversight of Payments, Clearing and Settlement Systems, UK (2 September 2010)

From two-sided subsidization to transparent price competition in card payments - Potential benefits of a more efficient business model, Conference on payment markets: Theory, evidence and policy, Spain (21 - 22 June 2010) 

The viewpoint of a Central Bank(er) on mobile payment developments, Mobey Forum, Helsinki (17 - 18 June 2010)

Mahdollisuudet korttikäytön tehostamiseen, Suomen SEPA-foorumin ydinryhmä, Helsinki (12 April 2010) (Available only in Finnish) 

Panel Discussion on Managing Operational Risks: Business Continuity Planning, 8th SEACEN-CPSS Advanced Course on Payment and Settlement Systems For Emerging Economics, Korea (24 March 2010)

The Importance of Modern and International Retail Payment Standards, 8th SEACEN-CPSS Advanced Course on Payment and Settlement Systems For Emerging Economics, Korea (23 March 2010)

Simulation as a tool for Payment System Oversight and Policy, 8th SEACEN-CPSS Advanced Course on Payment and Settlement Systems For Emerging Economics, Korea (23 March 2010)

Changing Retail Payment Landscape, Opportunities and Challenges for Central Banks, 8th SEACEN-CPSS Advanced Course on Payment and Settlement Systems For Emerging Economics, Korea (22 March 2010)

Electronic and Mobile SEPA: The Key to Unlocking the Full Potential of the International Payments Market, International Payment Summit 2010, London (9 March 2010) 

The Effect of EU Payment Regulations and Directives, Now and in the Future, Smi Nordic Card Markets, Stockholm (20-21 January 2010) 

2009

Strategey Roundtable: Challenges of PSD Implementation and Long Term Implementation and Long Term Implications, The Single Euro Payments Area & The Payment Service Directive, Hilton Paddington, London (10 December 2009) 

The Changing Retail Payments Landscape: An Overview, FRB, Kansas City (9 November 2009) 

SEPA kehittää eurooppalaista maksamista, Kriittinen muotipäivä, Muotikaupan Liitto ry, Helsinki (19 October 2009) (Available only in Finnish)

Current developments and future trends in EU Payment Systems, SEPA now and in future, Financial market 2009 EOS Congress, Berlin (15-16 October 2009)

Emerging standards: development and governance, Effective Oversight of Payments, Clearing and Settlement Systems, Clare College, Cambridge, UK (3 September 2009)

Mobile payments and the need for a trusted central administrator, Payment Habits Seminar, Helsinki (27 August 2009)

Comments on: How effective are reward programs in promoting payment card usage? Empirical evidence by S. Carbó-Valverde and J. Liñares-Zegerra, A join conference by the European Central Bank and De Nederlansche Bank (25 - 26 May 2009)

Comments on: Costs in the Norwegian payment system 2007 by O. Gresvik and H. Haare, A joint conference by the European Central Bank and De Nederlandsche Bank (25 - 26 May 2009)

Innovations in the area of retail payment services, Payments week & III Session of the Task Force of CISPI, Kazan, Russian Federation (20 May 2009)

SEPA -siirtymäkauteen liittyviä näkökohtia, Finanssialan Keskusliitto SEPA -foorumi, Kuntatalo, Helsinki (18 May 2009) (Available only in Finnish)

IPS Technology roundtable: Harnessing the latest technological innocation to maximise efficiiencies & profitability in payments, International Payment Summit 2009, London (14 May 2009)

(- & Sampo Alhonsuo) Pankkikriisit noudattavat samaa kaavaa - Pankkikriisien yleisestä anatomiasta, Bank of Finland Museum, Helsinki (21 April 2009) (Available only in Finnish)

Fördelaktigare betalsystem genom transparent prissättning - en paradox?, Ekonomiska Samfundet i Finland rf, Helsinki (10 March 2009) (Available only in Swedish)

( - & Sampo Alhonsuo) Pankkikriisit toistavat samaa kaavaa, Bank Of Finland, Helsinki (13 Febryary 2009) (Available only in Finnish)

SEPAn seuraavat vaiheet, Helsingin seudun kauppakamari, Helsinki (20 January 2009) (Available only in Finnish)

2008

Payment Habits in the Future and the Role of Central Banks, The Bank of Korea Payment Seminar, Seoul (19 November 2008) 

SEPAn seuraavat vaiheet, IIR Kassanhallinta 2008, Helsinki (12 November 2008) (Available only in Finnish)

Payment habits and trends in the future e-landscape - the banking impact, Currence Conference, Amsterdam (6 November 2008)

Could transparent pricing increase payment efficiency and competition at point of sale?, Riksbanken seminar, Stockholm (4 November 2008)

Nordic central bank and regulatory perspective on liquidity management practices, Marcusevans conference: Liquidity and Funding Strategies in a Volatile Market, Stockholm (3-4 November 2008)

SEPA tehostaa kansainvälistä ja kotimaista maksamista euro-alueella, Bank of Finland, Helsinki (28 October 2008)  (Available only in Finnish)

Changing e-payment habits in the 2010+ timeframe, EFMA Cards and Payments Conference, Paris (10 September 2008)

Oversight of new payment systems, Central Bank Publications: Effective Oversight of Payment and Settlement Systems, Cambridge (3 September 2008)

The effects of transparent and non-transparent payment service pricing, 2nd Payment Habits Seminar, Helsinki (26-27 August 2008)

The SEPA end game panel, EBAday 2008, Helsinki (26 June 2008)

Card payment trends and future developments, Card & Payments Europe 2008, Brussels (19 June 2008)

STP and automation to enhance back office efficiency: A perennial statement, but what can the market use?, marcus evans 8th Annual Nordic Securities Processing Conference, Copenhagen (17 June 2008)

Restructuring value transfer structures for efficient real-time economy processing, Crosstalks: Digital Ecosystems, optimizing the supply chain in the post-SEPA era, Brussels (8 May 2008)

Muuttuvat maksutavat 2010+, Bank of Finland, Helsinki (28 April 2008) (Available only in Finnish)

Panel: The impact of SEPA on domestic landscapes and the future of emerging pan-European infrastructures, ICBI International Payments Summit 2008, London (22-24 April 2008)

eSEPA - New business cases in financial services via e-integration, Euroforum Konferenz Zahlungsverkehr 2008, Wiesbaden (10 April 2008)

Yhtenäinen euromaksualue (SEPA) kansalaisen näkökulmasta, Studia monetaria, Helsinki (1 April 2008) (Available only in Finnish)

SEPA-maksuliikealueen kehitysnäkymät, Svenska Handelsbanken, Helsinki (13 March 2008) (Available only in Finnish)

Deepening and broadening of SEPA, COGEPS-meeting at ECB, Frankfurt (25 January 2008)

Development possibilities and customer expectations for card developments , eninenin , 7th annual conference on Nordic Card Markets, Stockholm (22 January 2008)

2007

Customers' Changing Payment Habits, Single Euro Payment Area (SEPA), London (6 Dec 2007) 

Strategy Roundtable: The Impact of SEPA on Domestic Landscape and the Future of Emerging Pan-European Infrastructures for Payments, Single Euro Payment Area (SEPA), London (5 Dec 2007)

Operational process improvements for efficient STP, Nordic Securities Processing and Operations Summit 2007, Stockholm (3 Dec 2007)

Payment habits 2010+ and increasing security requirements, Secman 20 Years Anniversary, Helsinki (26 Nov 2007)

The benefits of eSEPA for Banks and Corporates Panel III, 10th Euro Finance Week SEPA Summit, Frankfurt (20 Nov 2007)

SEPA Update, FACT (Finnish Association of Corporate Treasurers) Autumn Meeting, Helsinki (13 Nov 2007)

Benefits of Real-Time Electronic Payments, Helsinki School of Economics: Real-Time Economy – Information Research Seminar, Tallinn (23 Oct 2007)

Maksamisen palvelut EU:ssa: kuluttajien oikeudet ja yhtenäinen euromaksualue (SEPA), Turun kaupunginkirjasto, EU-tiedotus (2 Oct 2007) (Available only in Finnish)

Payment Habits 2010+ seminar, Suomen Pankki, Helsinki (30 Aug 2007)

Is there a business case for e-invoicing?, Second Equens Client Usergoup meeting, Helsinki (13 Sep 2007)

Payment Banking Tomorrow, Finnish User Group 30 Year Anniversary Meeting, Helsinki (17 Jun 2007)

Maksupalvelujen kehitystrendit ja niiden taloudelliset vaikutukset sekä teknologian uuden mahdollisuudet, Suomen Pankki, Maksufoorumi, Helsinki (29 May 2007) (Available only in Finnish)

SEPA ja Eurooppa, VerkkolaskuForum 2007, Tieke, Helsinki (10 May 2007) (Available only in Finnish)

The Trends and Future of e-Invoicing, Euroforum Zahlungsverkehr, Duesseldorf (26 Apr 2007)

The Impact of SEPA on Cash Management Products and Services, Marcus Evans 6^th Annual Liquidity Management Conference, London (23 Apr 2007)

End Users' Mobile Payment Expectations, Mobey Forum, Amsterdam (12 Apr 2007)

2006

Payment Service Developments – The Finnish Experiences, IPSO Strategy Conference, Dublin (12 Dec 2006)

The Challenges of SEPA Card Payment Developments, SEPA 2010 and Beyond, Mastercard, Marbella (8 Dec 2006)

Finnish Payment Methods 2010+ Customer Questionnaires, BoF internal seminar, Helsinki (4 Dec 2006)

The Role of e-Invoicing and m-Payments in the Framework of SEPA, SEPA IT Kongress 2006, Frankfurt (29 Nov 2006)

Bank-to-Customer e-Integration in SEPA, IBC's 6^th SEPA Conference, London (8 Nov 2006)

BoF-PSS2 Payment and Settlement Simulator – A tool for analysis of liquidity, risks and efficiency, Reserve Bank of Australia, Sydney (13 Oct 2006)

Eurooppalainen ja suomalainen maksujärjestelmä lähivuosina ja tulevaisuudessa, FINVA, Helsinki (9 Oct 2006) (Available only in Finnish)

4^th Payment and Settlement Simulator Seminar, see presentations on simulator web-page (www.bof.fi/sc/bof-pss), Bank of Finland, Helsinki (22-23 Aug 2006)

E-invoicing (EBPP) Today and Future Trends in Nordic Countries, EuroForum Zalungsverkehr 2006, Wiesbaden (4 Jul 2006)

Bank-to-Customer e-Integration in SEPA, IBC's 1^st European SEPA Conference, Amsterdam (29 Jun 2006)

e-Payments in SEPA beyond 2010, FBE Executive Committee – Finnish Bankers' Association, Helsinki (2 Jun 2006)

Payment Evolution and SEPA Expectations in the Nordic Countries, Twist User Opportunities for SEPA, Brussels (30 May 2006)

Setting Sails for SEPA, EuroFinance Cash and Treasury Management in the Nordic Baltic Region, Copenhagen (10 May 2006)

2005

Network-based Payments and a Common Financial Transfer Message (FTM), Nordea-Microsoft Bank Service Workshop, Helsinki (19 Dec 2005)

e-Payments for the Future, Payment Systems Forum 2005, Bank Negara Malaysia, Kuala Lumpur (29 Nov 2005)

Interoperability and Standardisation in e-Payments, Payment Systems Forum 2005, Bank Negara Malaysia, Kuala Lumpur (28 Nov 2005)

3rd Payment and Settlement Simulator Seminar, see presentations on simulator web-page (www.bof.fi/sc/bof-pss), Bank of Finland, Helsinki (24-25 Aug 2005)

e-Settlement: Soon a Reality, The Future of Payments, Bank of England, London (20 Apr 2005)