The Fidor Bank Story, Frank Schwab, Fidor TecS AG
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Widely recognised as the one of world's most innovative banks, Fidor Bank was established in Germany in 2007. It is the world’s first online-only bank that operates only through the internet and using social media. From customer service, communications and engagement to new product development, everything happens on social media at the Fidor Bank. Fidor currently has more than 300,000 people registered and 250,000 community members. It has €200m worth of deposits, and its lending totals about €160m. With only 34 staff, no branches and a cost of only €20.00 to set up a customer with full banking, the overheads are low compared with traditional banks.
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The Fidor Bank Story, Frank Schwab, Fidor TecS AG
- 1. The Fidor Bank Story - Banking with friends Frank Schwab, CEO ABTEC April 2014
- 4. Lost of trust in banks Trust 100 0 2004 2014
- 5. Bahrain, Feb 2011 Source: Wikimedia Co
- 6. New York, USA, October 2011 Source: Wikimedia Commons
- 7. Frankfurt, Germany, October 2011 Source: Wikimedia Commons
- 8. Number of US banks Source: FDIC 1990 20112000 16,000 8,000
- 9. Number of German banks Source: Deutsche Bundesbank 1990 20112000 0 2,000 4,500
- 10. Source: Deutsche Bundesbank 1995 20112003 Number of German bank branches 0 40,000 70,000
- 11. There is a need to change the relationship between customer and banks
- 12. Disruptive innovation Wikipedia is an innovation that helps create a new market
- 13. If I had asked people what they wanted, they would have said faster horses.
- 14. “The future is always here - it’s just not evenly distributed yet.” William Gibson, Fiction Novelist
- 15. Digital Natives
- 18. Socialstatus Orientation HighLow 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
- 20. And banking?
- 25. Community
- 28. Rate products
- 29. Raise & answer questions Get money for
- 30. 250,000
- 31. CpC < 20 €
- 33. Emergency money
- 34. Peer to peer loan via SMAVA
- 40. And next?
- 42. Context BankingNext Do you want to buy a new B&O TV set? We can help you.
- 43. 18 € 53 € 17 €
- 44. Source: Google
- 45. Technology?
- 46. The need for new Banking IT Platforms
- 47. Google
- 48. Apple
- 49. IT Intensity
- 50. IT cost per user 200 Tier 1/2 Bank Google 3,4 Facebook 3,8 eBay 7,4 [in USD p.a.]
- 51. # Web APIs 2000 2005 2014 >10,000 0 programmable web
- 52. There are already 451 financial APIs
- 53. CBS Country 1 Community PaymentsAccount FrontEnd 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 MiddleWareBackEnd RESTfulAPIs 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 Core Activities Security Fidor OS Transaction Authorisation Customer Booking ...
- 54. FidorOS on top of local CBS
- 55. Fidor TecS AG
- 56. 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
- 57. Schwab@Fidor.de