- This week in fintech
- Back to Basics or Backward Step? The Evolving Design of Scandinavian Banking Apps
Back to Basics or Backward Step? The Evolving Design of Scandinavian Banking Apps
Also: The best inventions of 2023, Stacc goes to Denmark, test your economic knowledge, Avoid arguing - get the facts
Banking app trends
Our report on the state of Scandinavian banking apps has gotten a lot of attention over the last month, but one thing we didn't write about is a trend that Ivan mentioned on stage. This is how banking apps looked in 2011, 4 years after the launch of the iPhone:
While most banks today have adopted a different pattern with the bottom tab bar and look more or less the same:
Left: previous versions of Revolut, Right: newest version of Curve
I'm leaning toward this being a step in the wrong direction and that banks will launch more apps like DNB and DNB Spare instead. It is also telling that Revolut, in their latest update, Revolut 10, has removed this setup throughout their app. (I'm also noting that Revolut is branding their app with new versions as it is a new iPhone they are launching)
The best inventions of 2023
Time magazine has just launched its list of the 100 best inventions of 2023. I didn't find any banking or finance-related app besides Adobe being awarded one of the best innovations for their Adobe Liquid mode. It uses an algorithm to resize PDFs to fit whatever device you're reading on and allows font resizing and search. This might interest many banks, considering their favorite format is pdf-files in A4 format presented on a tiny phone.
Pdfs everywhere in Norwegian banking apps
Stacc goes to Denmark
Stacc becomes a Nordic full-service provider in the Asset Finance industry by acquiring Bytelab, which delivers a software solution for leasing and financing cars in Denmark. The strategic acquisition represents a significant investment in our ambition to become the largest vendor for the Asset Finance industry in the Nordics – a natural step when looking at some of Staccs' first customers: Brage and AutoPlan.
Test Your Economic Knowledge - Can You Beat a Swede?
This summer, the Swedish Financial Supervisory Authority reported that 1/4 of all Swedes lack basic economic knowledge despite increased confidence in their economic understanding. Not surprisingly, men report high financial self-confidence and knowledge, while women and people under 30 report lower self-confidence and expertise.
Therefore, FI has developed a test covering four areas: conceptual knowledge, percentage calculation, risk diversification, and consequential thinking. Here, you can take a quick test and see if you have better financial knowledge than the average Swede.
Avoid arguing - get the facts
Patrick Campbell, the founder of Profitwell, was tired of arguing with his better half about having phones at meals, the position of the toilet seat, or if his wife looked fat in specific dresses. As a good researcher, he sent all the data out to marketing panels to get the answer (With consent). You can read the whole story here. The quick summary is that:
96% said his wife did not look fat in the dress
86% have phones at dinner
63% don't care about the position of the toilet seat