The Fidor story Frank Schwab

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The Fidor Bank Story - Banking with friends Frank Schwab, CEO ABTEC April 2014

Transcript of The Fidor story Frank Schwab

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The Fidor Bank Story - Banking with friends

Frank Schwab, CEO

ABTEC

April 2014

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Financial crisis 2009

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Lost of trust in banks Tr

ust

100

0

2004 2014

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Bahrain, Feb 2011

Source: Wikimedia Commons

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New York, USA, October 2011

Source: Wikimedia Commons

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Frankfurt, Germany, October 2011

Source: Wikimedia Commons

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Number of US banks

Source: FDIC

1990 2011 2000

16,000

8,000

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Number of German banks

Source: Deutsche Bundesbank

1990 2011 2000 0

2,000

4,500

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Source: Deutsche Bundesbank

1995 2011 2003

Number of German bank branches

0

40,000

70,000

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There is a need to change the relationship

between customer and banks

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Disruptive innovation

Wikipedia

is an innovation that helps create a new market

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If I had asked people what they wanted, they would have said faster horses.

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“The future is always here - it’s just not evenly distributed yet.”

William Gibson, Fiction Novelist

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Digital Natives

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Soci

al s

tatu

s

Orientation

High

Low

Internet distant unsettled

27%

Internet Layman 12%    

Responsible established 10%

Skeptic

10%

Carefree

Hedonist 12%

Efficiency Oriented Performer

14%

Digital Sovereign 15%

Source: Sinus 2011

Outsiders

Traditional Modern

Immigrants Natives

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Digital lifestyle

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And banking?

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Trust

Loan

s

Tran

sfor

mat

ion

Inve

stm

ents

Pay

men

ts

Customer

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Trust

Loan

s

Tran

sfor

mat

ion

Inve

stm

ents

Pay

men

ts

Customer

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Banking with friends

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Community

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Transparency

Sharing

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Rate bank advisors

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Rate products

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Raise & answer questions

Get money for

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250,000

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CpC < 20 €

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Trust

Loan

s

Tran

sfor

mat

ion

Inve

stm

ents

Pay

men

ts

Customer

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Emergency money

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Peer to peer loan via SMAVA

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Trust

Loan

s

Tran

sfor

mat

ion

Inve

stm

ents

Pay

men

ts

Customer

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Trust

Loan

s

Tran

sfor

mat

ion

Inve

stm

ents

Pay

men

ts

Customer

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Email

Twitter

Mobile number

Real time

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And next?

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Context

Banking Next

Do you want to buy a new B&O TV set? We can help you.

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18 €

53 € 17 €

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Source: Google

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Technology?

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The need for new Banking IT Platforms

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Google

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Apple

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IT Intensity

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IT cost per user

200

Tier 1/2 Bank Google

3,4

Facebook

3,8

eBay

7,4

[in USD p.a.]

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# Web APIs

2000 2005 2014

>10,000

0

programmable web

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There are already 451 financial APIs

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CBS Country 1

Community Payments Account

Fron

t End

Web / Mobile

Product- Features

Core- Module/s FidorOS CORE

Interface to Core Banking

Country-specific Core Banking System

LAYERS

CBS Country 2 CBS Country n

Mid

dle

War

e B

ack

End

RE

STf

ul A

PIs

Fidor Operating System (fOS) is API based, modular, future-proof and free of legacy

Technology

HTML5 / Native iOS, Android

Ruby/ Ruby on Rails/ MySQL

MQ Series

CBS specific

Bonus Third party

Third party apps / in account apps

General Admin

Cor

e

Activities

Security

Fidor OS

Transaction

Authorisation

Customer

Booking

...

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FidorOS on top of local CBS

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Fidor TecS AG

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The FUTURE is NOW!

„The Fidor Smart Account kills the

traditional bank account, like the

smartphone killed the mobile phone“.

Matthias Kröner, CEO Fidor Bank Group