"Banking is necessary, banks are not" - Bill Gates' famous statement
from 1994 was not just provocative but also foresighted. With new
technology-based providers, also known as FinTech businesses, a new
player has entered the banking market and it contests the predominant
role of traditional methods in financial services. Banks are now forced
to ask themselves whether they can provide some additional value in
comparison to digitalized FinTech companies. This applies especially to
the field of retail banking. Stephan Hoppe describes the rise of the
FinTech industry and outlines its impact on selected business segments
of the German retail banking market. In this way his publication
elaborates the threats but also the opportunities for the retail banking
industry. Content: - FinTech; - retail banking; - financial services; -
digitalisation; - financial technology