Artificial intelligence, blockchain or social bots – the future is digital. But how digital is Germany actually? In the podcast “So techt Germany” the best digital experts provide insights into the tech scene.
In view of lockdowns and contact restrictions, more bank customers in Europe are relying on digital services, according to the Mastercard study “Evolution of Banking”. 42 percent of respondents from twelve European countries used apps and online banking more often for transfers. Almost two thirds (62 percent) can imagine switching to a digital bank. More than three quarters of Germans also expect that interest in digital banking will continue to grow.
In the banking sector, however, demand does not necessarily match supply, says Tamaz Georgadze, founder and CEO of the fintech Raisin. “Banking in Germany is very traditional.” There is still a lot of personal sales and few purely digital deals. The cost structures are also very high. In short: “The German banking market has a number of challenges.”
Comparison portal for investments
The “Weltsparen” platform, which is part of Raisin, promises to help at least in part. European banks can post their investment offers on the platform. Customers can then compare them and determine which offer is worthwhile for them.
But the banks should also benefit from the comparison portal. “There are 5000 banks in Europe. Everyone creates their own deposit infrastructure, ”says Georgadze. For the majority of financial institutions, this involves a lot of effort. “Weltsparen” offers them this infrastructure. Even so, the banking sector still has a lot of homework to do.
In the new episode of the n-tv podcast “So techt Germany”, Tamaz Georgadze tells what they are and what the situation is with German fintechs.
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