Challenger banks DACH market map for DACH-region
Reports and analysis about banks
- 25. January 2018: Amazon’s forays into banking in India and Mexico shows that for GAFA banking could be more a feature than a product: As Bloomberg reports, Amazon has begun offering payment cards (credit/debit cards) and other financial services to customers in India and Mexico. With an unbanked population of 18% India and 56% Mexico, there is reason to believe that Amazon sees banking more as a feature than a stand-alone product. By banking more people they are creating more potential customers for their platforms. In countries like Germany where unbanked population approaches zero, Amazon (and potentially the rest of GAFA) has less to gain in a very crowded market (see ING-DiBa, N26, revolut: fairly good incumbents and FinTech re-unbundling and https://www.bloomberg.com/news/articles/2018-01-25/india-and-mexico-get-an-early-taste-of-the-bank-of-amazon).
- 03. February 2018 Claudio, country manager at revolut argues in an interview how banking is not anymore about insurances proucts but about digital services. I agree only to some extend as I believe that there is legitimacy in questioning whether who offers these digital services (“financial” I want to add) and what they represent (they might come from non-finance institutuions and might represent products augemented by digital services which consequently are again a product to some extend). See FinTech, redefining products and product-oriented banking [Source: wirtschaftsforum]
- 01. February 2018: Commerzbank advertises founder-oriented banking products Commerzbank might have been offering that for much longer but I came across it on Februar 1st. The ad (see image below) is in German but its message is that founders have many obstacles to overcome of which banking is none anymore. For me this is yet another example of the question what a financial product means in the FinTech-context and who offers it (see FinTech, redefining products and product-oriented banking).
Banks overview for DACH-region