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Fintech
Digitalab 13 J.
Financial technology: tech companies that digitise financial services. Examples: N26, Trade Republic, Scalable Capital, Klarna, PayPal.
Fintechs are technology companies that offer traditional banking services digitally – often faster, cheaper and more user-friendly than traditional banks.
Areas:
• Banking: N26, Revolut, Tomorrow (digital current accounts)
• Investing: Trade Republic, Scalable Capital (cheap securities accounts)
• Payments: PayPal, Klarna, Stripe (online payments)
• Insurance: Clark, Getsafe (digital insurance)
• Credit: Auxmoney, Smava (loan brokerage)
Fintechs have revolutionised the financial sector: custody fees that used to cost €50/year are often free today. ETF purchases that used to cost a €30 fee cost €0–1 at neo-brokers.
Did you know? Germany has more than 1,000 fintech companies. Berlin is the largest fintech hub in continental Europe.
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