Banks need to understand they are not banks

The key term I’ve heard throughout 2013 is digital, and one of my favourite digital banks is FIDOR in Germany.

Why?  Because it is a proper bank – it has a banking licence – but it does not behave like a proper bank.

It’s very social – it sets its interest rates using Facebook Likes; it’s very different – if you want a loan, you can use integrated services from P2P lending website Smava; and it’s very innovative.

Read more at SAP Banking View

Banks need to understand they are not banks

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