Dusseldorf A few years ago, the Germans were still a convinced people of cash – at most the Girocard was used for larger purchases. Today, digital banking is part of everyday life – and young, agile start-ups, the fintechs, benefit from it.
Courageous investors discovered the potential of fintechs early on and are investing billions in these young companies. Their advantage: a manageable business model and low costs.
The long skepticism of Germans towards digital banking is reflected in the low number of company foundations. If there are seven fintechs per million inhabitants in Germany, there are 30 in innovative Ireland.
More: The best apps for mobile banking