> Transactions are still in batches, but the settlement between banks happens nett between the local banks.

Same thing in Sweden, I believe. Cleared through Bankgirot.

https://en.wikipedia.org/wiki/Bankgirot

Also comes down to Sweden having a "how do we fix this and make sure it never happens again" culture rather than a US-style blame culture. You can get fired in Sweden if you're grossly negligent or disloyal, but not for a simple mistake that anyone could have made.

This is a very good attitude. In general, the impression I get of Nordic countries is of a more egalitarian social contract with people looking out for each other rather than the culture of personal progress at any cost that we see elsewhere.

I suspect the climate has something to do with it, over hundreds if not thousands of years.