Issue Two: Europe
Country case study: Germany
Company case studies: N26, BBVA
Europe is currently going through a phase where the neobanks and fintechs are proliferating across the continent. But that doesn't mean traditional banks are on the defensive, including fintechs like TransferWise, Kreditech, Klarna, Adyen and Jaja. Finance seem to have clear strategic priorities which they are rolling out aggressively. The neobanks like N26, Revolut, Monzo, and Starling have seen strong success in Europe, riding on their digital platforms and without the legacy baggage of branches and archaic IT systems. But the launch of fintechs and neobanks has only made a marginal impact on the credit cards and digital finance market. The traditional banks have come out with a muted response with some level of collaboration with fintechs, but they have been more as 'me too' reactions than anything else.