This week in fintech

By Hauken from Stacc

Nordnet's brilliant move



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This week in fintech

March 28 · Issue #98 · View online

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

  • 😅 Tough week for the Norwegian Competition Authority
  • 📱 Apple entering the credit space?
  • 🔢 What is a good password?
  • ☠️ Death by PowerPoint
  • ✅ Mindset of the week

💡 Nordnet's brilliant move
When it comes to mortgages, the banks are all fighting for the best customers: Secure payers with a good economy and a low probability of loss. Nordnet is targetting this group with their new mortgage solution. Rather than letting the loan to value ratio define your interest rate, as Bulder Bank does dynamically, what determines your interest rate is how much money you have invested at Nordnet. They even include your pension or companies you own into the invested amount (including co-borrowers). This is a smart move since all their new mortgages have a low-risk profile. On top of that, they recruit well-off people to their platform and cross-sell their core business to make the offer on mortgage better.
The downside of innovations like this for users is that it’s getting harder and harder to compare different actors for the Consumer Council in Norway.
😅 Tough week for the Norwegian Competition Authority
Last week we wrote that The Competition Appeals Board reverted the Norwegian Competition Authority’s decision to stop DNB’s acquisition of Sbanken. This week they got their second scorching defeat: When Schibsted bought the digital car dealer Nettbil, the Norwegian Competition Authority and The Competition Appeals Board stopped the transaction. They ended up suing the Competition Authority for this decision, and last week won in court. Lucas Weldeghebriel from Shifter notes that: “In this case, they reveal that their understanding of digital business models and markets is somewhat limited.” 
Some actors are hard to classify. Is Facebook a social media company, a VR-company, an online shopping, dating, donation, advertising, or payment? Is Apple a technology company, an app store, a search-engine platform, or a payment company?
📱Apple entering the credit space?
Last week Apple acquired the British credit-scoring startup Credit Kudos. The deal is another addition to Apple’s venture into the expanded payments space. Altfi speculates if the agreement could be an indication of Apple launching their Apple Card in the UK, a venture into “Buy Now, Pay Later” or an acquihire. Nontheless, Apple has a habit of acquiring companies and then going into silent mode for two years before hearing something more. We can expect the same thing to happen here.
🔢 What is a good password?
How secure is the password you have chosen? Hive systems have updated their Hive Systems Password Table for 2022
Suddenly, you get why most password-prompts are annoyingly asking you to add numbers, lower and uppercase letters, and symbols to your passwords.
☠️Death by PowerPoint
We’ve all seen these dull presentations. Heck, I regularly try to wipe them out from our sales slides. But we’re getting so used to seeing these slides filled with text that we accept them. The fact is we know that PowerPoint kills. Often it only kills our interest, but this is a story of how a PowerPoint slide actually helped kill seven people:
Death by PowerPoint: the slide that killed seven people
✅ Mindset of the week
Atle Frenvik Sveen
@erlemarie @Klefstadmyr Som utvikler prøver jeg alltid å ha mindsetet: "brukeren kommer til å hate dette"
As a developer, I always try to have the mindset:
“the user will hate this.”
That's it for this week 👋
Remember, if you’re enjoying this content, please do tell all your (fintech) friends to hit the subscribe button! If you have some feedback you can always just hit reply!
Marius Hauken, partner Stacc X
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