Innovations within the finance and banking industry are reconfiguring the market. Banking becomes an online platform and app driven activity, also for the customers. New business and service models from third party providers challenge the traditional financial institutions.
With the shift to digital banking customers also become accustomed to free services like free bank accounts and credit cards and all comfortably manageable online.
On the other hand, both, the financial institutions and the customers face drastically reduced options for making money – with customers none within the traditional „saving“ by interest model.
The era of savings by earning interest by simply depositing money into a bank account that works for you and pays off by just „sitting“ there is over. An unsettling situation for the majority who counted on this as the backbone of their financial strategies. Investing at least in Germany is still a marginal part of generating revenues.