{"id":40226,"date":"2018-09-13T16:50:37","date_gmt":"2018-09-13T14:50:37","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=40226"},"modified":"2018-09-13T14:08:37","modified_gmt":"2018-09-13T12:08:37","slug":"banks-fintech","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/40226\/banks-fintech\/","title":{"rendered":"Two out of three banks work with fintech startups"},"content":{"rendered":"<div class=\"entry-content\"><p><strong>The financial industry is undergoing a transformation: Two-thirds of German banks are already working with fintech startups. And bank managers also see a significant need for adaptation within their own institutions.<\/strong><\/p>\n<p>The established players are under pressure from a whole range of new competitors, according to a recent study by Sopra Steria Consulting and the FAZ Institute: 46 percent fear online payment service providers such as PayPal or Google Pay. 44 percent see neobanks, i.e. fintechs such as <a href=\"\/en\/success\/wirecard\/\">Wirecard<\/a> or N26 as a challenge. 39 percent expect attacks by global technology companies and 38 percent use comparison portals such as <a href=\"\/en\/14921\/check24-ventures-60-million-fund-for-startups\/\">Check24<\/a> or <a href=\"\/en\/30091\/verivox-takes-over-aboalarm\/\">Verivox<\/a> as competition. Three out of four bank managers see a significant need for adjustments to their own business model over the next three years.<\/p>\n<h3>Banks seek collaboration with startups<\/h3>\n<p>Banks are responding to the current challenges in a variety of ways. Around nine out of ten respondents want to strengthen their own online offerings on their websites and in multi-banking apps, as well as expand their own customer platforms. Banks are also increasingly focusing on collaboration with new players. A full two-thirds are already working with fintech startups. Almost every second bank decision-maker surveyed (47 percent) sees collaboration with fintechs primarily as an opportunity to increase efficiency in the back office. A similar number of banks are seeking partners who can provide them with access to new customers.<\/p>\n<h3>\u201cA cross-company strategy is needed\u201d<\/h3>\n<p>Apparently, many banks still lack a comprehensive digital strategy. Only 39 percent of the bank managers surveyed report cross-departmental collaboration or joint development of processes in digitalization. Furthermore, only 22 percent of banks involve all their employees in the digitalization process and provide them with appropriate training.<\/p>\n<blockquote><p>&quot;Banks need new combinations of products and services. Technology and data will be the drivers for the new business models. This requires a cross-company strategy and employees who bring it to life and develop it further,&quot;<\/p><\/blockquote>\n<p>says <strong>Stefan Lamprecht<\/strong> by Sopra Steria Consulting.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The financial industry is undergoing a transformation: Two-thirds of German banks are already working with fintech startups. And bank managers also see a significant need for adaptation within their own organizations. The established players are feeling pressure from a whole host of new competitors, according to a recent study by Sopra Steria Consulting and the FAZ Institute: 46...<\/p>","protected":false},"author":26,"featured_media":26998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5634,1],"tags":[162,157],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zwei von drei Banken arbeiten mit Fintech-Startups zusammen - Munich Startup<\/title>\n<meta name=\"description\" content=\"Zwei Drittel der deutschen Banken arbeiten bereits mit Fintech-Startups zusammen. Und auch im eigenen Haus sehen Bankmanager erheblichen Anpassungsbedarf.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/40226\/banks-fintech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zwei von drei Banken arbeiten mit Fintech-Startups zusammen - Munich Startup\" \/>\n<meta property=\"og:description\" content=\"Zwei Drittel der deutschen Banken arbeiten bereits mit Fintech-Startups zusammen. 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