In total, over 200 companies initially applied to participate in the 12-week programme, which will provide selected startups with the opportunity to develop their ideas alongside Nordea and technology partners IBM, Tata Consultancy Services and programme facilitator Nestholma.

The bank has whittled down the group to a long-list of 35 from countries including the US, Russia, Singapore, India, Sweden, Norway, Denmark and Finland, who are presenting their ideas to executives in the bank’s Oslo office for a chance to be in the final 20 to make the cut.

“We are continuously working hard on developing great digital services for our customers, and rely on acquiring expertise and creativity, from outside the organisation too,” says Jan Sirich, head of experimentation & learning at Nordea. “This time, Nordea Startup Accelerator is focusing on ideas in new technology such as cognitive computing, artificial intelligence and blockchain technology. But, we are also interested in other areas, where new technology can help us offer better services to our customers.”

Nordea’s first startup accelerator, which ran in the winter of 2015-2016, saw the top teams pick up EUR600,000 in new financing, with two of them, Jenny and Feelingstream, going on to develop new services for use at the bank.