This week in fintech

By Hauken from Stacc

How to know if you are a tech- or financial company



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This week in fintech

April 26 · Issue #57 · View online

A weekly summary of the latest news in our world of finance, design, and technology.

  • 🌳 Investing: What defines how sustainable you are?
  • 💰 Sbanken vs. DNB
  • ⛓ Crypto: Sparebank 1 launches cryptocurrency on Svalbard
  • 💳 Payment: Amazon saves you 75 hours a year?
  • 🔉 Strategy: What is the soundtrack of your brand?
  • 📱 Tech: How to know if you are a tech- or financial company

This week I’ve written about the opportunity GitHub, bought by Microsoft three years ago, has to create the default App Store for code. At the moment, there is no default marketplace for selling code, even though the market for this is enormous.
How GitHub could be the App Store for code
🌳 Investing: What defines how sustainable you are?
  • JPMorgan Chase & co has been downgraded on their sustainability rating because the bank was revealed to be funding the failed European Super League (ESL) breakaway attempt. Apparently, “Is this bad for sports” should be one of the questions on the list of social responsibility and sustainability questions that banks ask when they consider new business. 🤷‍♂️ Link
  • Unusual Whales is a project created in the hopes of exposing insider trading. It is also used to track and determine congress/senate transactions from the US House of Representatives and see if these people could potentially use information privy to them to trade. Link
💰 Sbanken vs. DNB
An acquisition rarely creates much fuss, but the acquisition of Sbanken by DNB has created a landslide of new posts. These are some of the most interesting we’ve read over the last week:
  • Only acquisitions from a foreign company can save Sbanken. Link
  • Vulture eats Norway’s most popular bank. Link
  • Hallgeir Kvadsheim is afraid of competitive congestion if DNB takes over Sbanken. Link
  • Eivind Berg wants some good arguments to give DNB a chance. He sums up why Sbanken customers should be skeptical of DNB. Link
⛓ Crypto: Sparebank 1 launches cryptocurrency on Svalbard
  • You bought a pixel for $1.4 million. I have some bad news for you. Link
  • SpareBank 1 launches a cryptocurrency at Svalbard. The digital project “Svalbard Money” is a non-profit training project on blockchains, cryptocurrency, and the very phenomenon of money based on Etherum. Link
  • We’ve previously shared why Taylor Swift re-created her album Fearless. This week Ben Thompson compared this to NFTs and why they could be necessary – if the creators decide it. Link
💳 Payment: Amazon saves you 75 hours a year?
  • Jeff Bezos in his final letter to shareholders: “If you assume that a typical Amazon purchase takes 15 minutes and that it saves you a couple of trips to a physical store a week, that’s more than 75 hours a year saved.” Link
  • Finally, a good case for AR: navigating the aisles to find the products in the shopping mall. The future is here! Link
  • Nets have agreed with Vipps to offer Vipps payment with QR codes in their payment terminals. This is an essential deal for Vipps competing against Apple Pay and Google Pay. Link
  • Komplett is reporting that implementing Vipps login reduced their dropout rate by 13 percent. Link
🔉 Strategy: What is the soundtrack of your brand?
  • What is the soundtrack of your brand? Vipps have written and produced a few videos about the sound of Vipps. Link
  • How Cash App overtook Venmo by embedding itself in culture. Over 200 hip-hop artists have name-dropped Cash App in their songs. Link
  • Don’t just create a strategy - use it! Link
📱 Tech: How to know if you are a tech- or financial company
  • How do you know if you are more a Financial company than a Tech company? Financial companies use Office 365, and Tech companies use Gmail. Link
  • 62% of tech companies put more than ½ of their application workloads in the public cloud. Only 25% of large financial companies do the same. Link
  • Postmates made an additional $60m in 2020 because Stripe’s Machine Learning model automatically updated details of 2m+ credit cards that had expired. Link
  • How can you avoid technical debt? The technical debt stems from a disagreement between business needs and how the software has been written. Luca Rossi sums up two solutions for avoiding this. Link
📺 Before you leave
Money Simulator
🙏 Don't keep it a secret!
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Marius Hauken, partner Stacc X
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