By Dieter Fromm
Founder and CEO, moneymeets.com GmbH
Digitization Redefines the Rules of the Game
In the digitization of financial services, the German financial and insurance sectors are still at the beginning of these revolutionary changes. The current trend is not just mere innovation, but a real cultural change. The task of the day for the technical departments is not only to reorganize proven processes to make them quicker and to use paperless methods, but to completely rethink them. And of course, the new and the old world of finance are communicating in Germany as well: at least 87% of the banks surveyed by the Federal Ministry of Finance stated at the end of 2016 that they had cooperated with at least one finance start-up and that they were planning on continued cooperation or participation in the future. Banks, and of course insurance companies as well, benefit from the customer orientation, innovation and flexibility of the new digital players. FinTechs can, in turn, use the reputation of a bank or insurance company to their benefit. In the end, these synergies will remove any opposition and the result will be that it really does not matter where the customer gets his advice from.
How Two Bankers Became the Founders of a WealthTech
Everyone knows that challenging the status quo can sometimes have far-reaching effects down the line. In the moneymeets founding story, the crucial question was asked ...