Cooperation with stakeholders

It is crucially important for Finnvera’s operations to understand the needs and views of its stakeholders and that there is active stakeholder interaction. Indeed, cooperation with stakeholders is one of the four overarching themes in Finnvera’s corporate responsibility.

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Finnvera’s principal stakeholders are clients, banks, domestic and international organisations, personnel, owners and cooperation partners, including other Team Finland organisations.

Finnvera is a State-owned specialised financing company under the auspices of the Ministry of Economic Affairs and Employment. There is active dialogue with the Ministry of Economic Affairs and Employment, and cooperation is close also with the Ministry for Foreign Affairs and the Ministry of Finance.

The company, at both executive and regional levels, meets its domestic stakeholders actively. Furthermore, Finnvera participates in international cooperation in its own sector abroad.

Active interaction with stakeholders in 2017  

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Clients

It is very important for Finnvera to understand the needs of clients. In addition to the client and stakeholder survey, customer satisfaction is also monitored by measuring the customer experience.

Client and stakeholder survey

In the client and stakeholder survey of 2017, a total of 1,950 respondents expressed their views on Finnvera’s operations. The survey looks into the clients’ satisfaction with Finnvera’s operations and service, their impressions and views on the significance of Finnvera’s operations, as well as experiences of various Finnvera service channels.

The Net Promoter Score (NPS) indices of different target groups were excellent, even over 80, which indicates that stakeholders are very willing to recommend Finnvera and its services. The NPS index of local enterprises focusing on the domestic markets was lower than those of other stakeholders; however, even their index was good.

The benefits of service provision were estimated to be at the same good level as before. As for active approach and focus on solutions, Finnvera received the most positive ratings from financing clients in large corporates.

Customer experience measurement

In customer experience measurement, customer satisfaction is measured either immediately after the first meeting or after the financing decision. The target for the measurement result is set at the excellent score of 55, and the results even exceeded this.

The Finnvera Committee and the Export Finance Committee (in Finnish) serve as an interaction channel between clients and Finnvera. In 2017, SMEs’ need to hedge against export trade financing risks came up in the Committee, and Finnvera will address this need in 2018.

Daily discussions with clients are open and diverse. The channels include, for instance, the website, social media, the newsletter and the stakeholder magazine.

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Banks

Banks are important cooperation partners for Finnvera, as financial solutions are nearly always offered to clients in cooperation with the bank. With banks, the goal is to act as an active and consistent co-financier supplementing the financial market.

Close cooperation with banks continued in 2017 in Finnvera’s regional network. In addition to client-related work, cooperation with banks encompassed events and webinars focusing on different themes, such as the financing of transfers of ownership. Communications cooperation with banks was also promoted in bringing up financing opportunities available for enterprises.

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Domestic organisations and cooperation partners

In Finland, organisations promote Finnvera’s recognisability, acquisition of clients and demand for financing. These organisations include the Federation of Finnish Enterprises, the Chamber of Commerce and the Confederation of Finnish Industries (EK). Through them, Finnvera is also informed of the various client groups’ situation, and constant dialogue is conducted to improve the financing options available to enterprises.

A visible campaign that was continued in 2017 was the acceleration of transfers of ownership together with enterprise organisations. The internationalisation of SMEs and export trade were highlighted on the Pk-yritykset maailmalle tour, organised as part of Team Finland cooperation.

With the help of cooperation partners, client enterprises are provided with comprehensive services for many different needs. Through Team Finland, a company seeking growth or internationalisation gets all the public services it needs for financing, subsidies and advice. The number of joint Team Finland service proposals in 2017 was 320.

Joint events in 2017

  • The Growth Open business competition in cooperation with various companies and organisations. The largest sparring programme for enterprise growth in Finland, and free of charge, Growth Open supports the growth and internationalisation of SMEs across Finland and in various sectors.
  • A conference focusing on transfer of ownership with, for instance, the Federation of Finnish Enterprises and the Confederation of Finnish Industries (EK).
  • The Yrittäjäpäivät event for entrepreneurs and the Kunnallisjohdon seminaari event for municipal managers in cooperation with the Federation of Finnish Enterprises.
  • The Pk-yritykset maailmalle tour visiting 10 locations, together with Team Finland, the Federation of Finnish Enterprises and the Chamber of Commerce.
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International organisations and cooperation

Dialogue with international organisations provides the opportunity to network, share expertise and bring Finland’s views to decision-making.

Through the Ministry of Economic Affairs and Employment, Finnvera participates in international cooperation in its own sector, for instance within the OECD and the EU, the Paris Club of public creditors, the Network of European Financial Institutions for SMEs (NEFI), The Montreal Group and within the Berne Union, the international cooperation organisation for export credit agencies, with Deputy CEO Topi Vesteri of Finnvera serving as President of the Berne Union.

Pekka Karkovirta, Vice President, International Relations, acted as Chairman of the Participants to the OECD Arrangement in 2017.

There is also cooperation among Nordic export credit agencies: both the management and expert groups meet once a year.

Further information on Finnvera’s international cooperation.