Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

Corporate vs. Startups in FinTech: Reps from PayPal, Deutsche Bank, FinLeap and Number26 Take Their Stands at Heureka 2015

by Julia Neuman
May 30, 2016
in FinTech, Startups
Home Topics FinTech
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on e-mail

At the end of the key FinTech talk at Heureka 2015, FinLeap Venture Partner Nasir Zubairi had just one question for the audience: Who can build better FinTech solutions – startups, banks, or a collaboration between the two?

Most hands went up in favor of startups or collaboration – and, as you might’ve guessed, not a single hand went up for banks. The representative of Deutsche Bank, Beate Hofmann, nodded her head as if to say, “fair enough.”

Hofmann had mentioned several times throughout the talk that she knows Deutsche Bank has a lot of work to do. She named user experience as the main draw for FinTech companies, but also countered with the fact that Deutsche Bank has a deep, collective knowledge about finance. “My question is always how we can bring both of these worlds and strengths together,” she said.

Perhaps illustrating her point about bank strengths, Number26 founder and CEO Valentin Stalf later admitted that his company does not have any “traditional” bankers, but he also mentioned that the consumer doesn’t care about backgrounds of particular banking systems. For that reason, Number26 is very much focused on the consumer’s needs and the value created. “[The consumer] has an account in the U.S. and he has an account here [in Germany], and he wants to pay for something, and we just have to figure out the easiest way to do that,” Stalf said.

Stalf also firmly believes bank branches are quickly becoming obsolete and aren’t worth the costs anymore, countering Zubairi’s interjection that bank branches still serve an important purpose for many people.


Join the Partisia Blockchain Hackathon, design the future, gain new skills, and win!


PayPal Regional Vice President and GM Arnulf Keese, the quietest of the bunch, made a notable statement about product focus, saying he’d rather be adaptive to other technologies to achieve one single mission rather than try to accomplish it all. “We don’t even try to be good with 10 things,” he said. “We try to be good at one thing.”

Arguably the most illuminating aspects of the talk were Deutsche Bank’s outward acceptance of FinTech advantages, and the clear disagreement between tech figures about the functionality of bank branches in 2015. It will be interesting to monitor how these perspectives change, if at all, by the end of the year.

 

Tags: Deutsche BankFinLeapHeurekaNumber26Paypal

Related Posts

Exploring the strong growth of BaaS in the fintech sector

Exploring the strong growth of BaaS in the fintech sector

January 17, 2023
Why is OpenAI recognized for changing the industry? Explore what is OpenAI startup fund and find out details of Mem investment.

OpenAI Startup Fund led a $23.5 million investment round in Mem

November 11, 2022
Crypto-enabled cybercrimes are on the rise

Crypto-enabled cybercrimes are on the rise

August 26, 2022
Machine learning can be used to quickly identify and address cryptojacking attacks.

Using ML to cope with cryptojacking attempts

August 11, 2022
The Ukrainian fintech industry keeps growing despite the war

The Ukrainian fintech industry keeps growing despite the war

August 9, 2022
Understanding cloud banking dynamic may help businesses seeking to scale take advantage of significant funding possibilities.

Cloud banking is in the spotlight at London Tech Week 2022

July 5, 2022

Comments 2

  1. Emily Veach says:
    8 years ago

    Interesting insights from the talk, thanks for writing this up. I’d be surprised if many people share Valentin’s assumption that consumers don’t care about the background of a particular baking system.

    There’s great value in transparency. For financial services companies trying to shake up the industry, they need to show a certain degree of legitimacy. That could be founders’ experience, customer reviews, a solid blog…

    Just as a reference, here’s a graphic of the startup companies challenging European banks like BNP, Santander and HSBC:

    https://www.cbinsights.com/blog/disrupting-european-banking-fintech-startups/

    Reply
  2. Brian Smith says:
    8 years ago

    It is now widely believed that the combination of two (algorithms and human talent) will win the race in the industry of investment advice. Here is the link to an insightful research from McKinsey: http://www.riabiz.com/a/4984545384333312/mckinsey-robo-advisors-have-a-cloudy-future-but-virtual-advice-delivered-by-24-hour-super-centers-experts-and-algorithms-will-win-the-day In the meantime, I wanted to recommend you a service that dramatically decreases the cost of investment advice by applying technology and makes the entire investment experience convenient. It’s called Zen Assets. The firm operates in London, UK: https://zenassets.com/

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST ARTICLES

How did ChatGPT passed an MBA exam?

AI prompt engineering is the key to limitless worlds

Transform your data into a competitive advantage with AaaS

Google code red: ChatGPT, You.com and rumors of Apple Search challenge the dominance of search giant

Tome AI offers a new way to create presentations easily

Transforming data into insightful information with BI reporting

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy
  • Partnership
  • Writers wanted

Follow Us

  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.