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Head to head – race: After Revolut, Klarna is again the most valuable Fintech
Well, who now? Just last week, Revolut was named the most valuable Fintech in Europe, with a funding of 500 million dollars and a valuation of around 5.5 billion dollars. Barely seven days later, the British company has already been pushed from the throne again. The Swedish payment service provider Klarna could now climb the…
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“We make the digital fingerprint irrecognizable”
The name David Chaum might not mean much to the ordinary mortal, but Blockchain followers know exactly who is being meant. Chaum is a mastermind and one of the prime fathers of technology. Under the title “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups” he wrote his dissertation in 1982. With E-Cash he…
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Sparkasse merges Girocard with Mastercard Debit
Our analysis: What does this step mean for the card business, customers and last but not least xPay/DK & Paydirekt? It became known that the Sparkassen financial syndicate is merging the well-known Girocard with Mastercard Debit. Mastercard Debit is obviously intended to replace the previous Maestro logo for international use. We here at Payment &…
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Cashless payment transactions put to the test in Germany and Europe
An article by Marcus W. Mosen The banks in Europe and Germany are certainly not bored at the moment. And with the corona virus, a new challenge is now being added: many projects that until recently were considered of the highest strategic importance could now lose importance thanks to corona. Just a few weeks ago,…
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More sales through smart risk management: 5 steps for retailers
One in five German online shoppers has already been the victim of fraudsters. This is revealed by a Bitkom-survey which results were published in January. Fraud vs. sales: Online retailers want to generate the highest possible sales. Their core business is sales. However, bad debt losses can have a significant impact on the sales if…
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Financial regulators are watching crypto custodians
Since January 1, companies that hold Bitcoin & Co. are considered financial service providers and must apply for a license. Bitkom sees this as an opportunity for the breakthrough of digital assets and has therefore published an information paper for “Regulatory requirements for crypto custodians”. Since January 1st, anyone who holds crypto currencies such as…
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Issuing as a new component of acquiring in payment
With SUMUP, another payment acceptance provider is entering the business of issuing cards. What does this mean? Following the merger of network operations/payment service providers and acquiring in recent years, we are currently seeing more and more indications of a further, completely new fusion of value creation in payment. Issuing, i.e. the issuing of cards,…
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Anleitung: In 5 Schritten zur NEO-Bank
Eine Neo-Bank zu bauen hört sich schwer an und gerade wenn man erst frisch begonnen hat sich mit Kundenbedürfnissen zu beschäftigen, kommt es einem vor, als stehe man vor einem unüberwindbaren Berg. Doch eigentlich ist das alles gar nicht so schwer. Man braucht nur jemanden, der Schritt für Schritt durch einen solchen Prozess führt. Und genau hierbei möchte…
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New Work and Fintech: How new organisational structures promote innovation
Abolishing hierarchies, enabling situational leadership, working in cross-functional teams: In traditional companies in the financial sector, this is unthinkable, at least with regard to the entire organization. But Fintechs can benefit from new organisational structures in the sense of New Work – not only as employers, but also as drivers of innovation. The set of…
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How much sense do financial products make for women?
Financial service providers are always on the lookout for ways to sharpen their segmentation – the right offer for the right customer at the right time, is the measure of all things. Companies that implement this successfully and consistently are usually the leading players in their markets. However, one of the foundations on which successful…
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The Trend is your Friend
One of the last editions of the Handelsblatt was about the success of the direct banks in comparison to the affiliated banks and that the first one mentioned are turning more and more into so-called house banks or first banks. https://www.handelsblatt.com/finanzen/banken-versicherungen/finanzinstitute-deutsche-onlinebanken-wachsen-rasant-2020-soll-der-durchbruch-gelingen/25294504.html This increasing trend of direct banks becoming house banks has take, all in all,…
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Study by Google and the savings banks: An evidence of incapacity
Together with Google, the German Savings Banks and Giro Association (DSGV) has commissioned a representative GfK survey on banking products. What was to become a study on customer behavior in the age of smartphones and online banking is basically a testimony to years of ignorance and failure to offer customers, who have now gone digital,…
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The 7 biggest customer problems in Banking, Fintech & Insurtech
A couple of weeks ago André M. Bajorat asked here the question what Open Banking is. This was my answer: “Ideally for me Open Banking is a central place, where you can handle all financial affairs. So almost like a virtual shopping center, where the customers can choose the financial service, which is suitable for…
