Dusseldorf At the latest since the outbreak of the corona pandemic, many financial institutions have changed their processes and developed new products in order to meet the digitization demands of the industry and its customers. But how does Germany now compare?
“German banks are still very backward when it comes to real digital offers,” says Martin Schachinger from the consulting firm Finnoconsult in the current episode of Handelsblatt Today. On the other hand, he regards N26, Trade Republic and Revolut as positive examples of fintechs that make modern banking possible in Europe: “Traditional banks are also trying to deliver all of this. But they are still quite behind.”
In a European comparison, those markets are digitally ahead that you don’t think of first: “The best example is Poland.” With Bank Millenium, the country is always in the top three. Turkey and Great Britain are also very progressive. In this country, the Hamburger Sparkasse makes a positive impression.
Also: The EU Commission has increased its economic forecast. But Germany’s economy is causing concern, explains editor Julian Olk.
More: Economy in Europe will grow by 1.0 percent in 2023
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