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
