I know for a fact that banks in Sweden are (and have been for a long time) adopting a very defensive position. This includes working hard to convolute legislati

I know for a fact that banks in Sweden are (and have been for a long time) adopting a very defensive position. This includes working hard to convolute legislation and introducing infrastructure that is mandatory to participate in the market, but too complex to implement/abide by for a startup, or too high cost/low value compared to the available market for an established bank. The purpose, of course, is to keep the banks from central Europe out of Sweden, and that includes N26 et. al. They have very little interest or ability to compete with them, neither in terms of fees nor UX. Fortification and minefields are therefore the best alternatives. A few years ago, the CEO of a (then) new investment bank famously said that they will be the last bank created in Swedish history, due to the above.