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The Fidor Bank Story
- Banking with friends
Frank Schwab, CEO
ABTEC
April 2014
Financial crisis 2009
Lost of trust in banks
Trust
100
0
2004 2014
Bahrain, Feb 2011
Source: Wikimedia Co
New York, USA, October 2011
Source: Wikimedia Commons
Frankfurt, Germany, October 2011
Source: Wikimedia Commons
Number of US banks
Source: FDIC
1990 20112000
16,000
8,000
Number of German banks
Source: Deutsche Bundesbank
1990 20112000
0
2,000
4,500
Source: Deutsche Bundesbank
1995 20112003
Number of German bank branches
0
40,000
70,000
There is a need to
change the relationship
between customer and banks
Disruptive innovation
Wikipedia
is an innovation that helps
create a new market
If I had asked people what
they wanted, they would
have said faster horses.
“The future is
always here
- it’s just not evenly
distributed yet.”
William Gibson, Fiction Novelist
Digital Natives
Socialstatus
Orientation
HighLow
Internet
distant
unsettled
27%
Internet
Layman
12%	
  
	
  
Responsible
established 10%
S...
Digital
lifestyle
And banking?
Trust
Loans
Transformation
Investments
Payments
Customer
Trust
Loans
Transformation
Investments
Payments
Customer
Banking with friends
Community
Transparency
Sharing
Rate bank advisors
Rate products
Raise & answer questions
Get money for
250,000
CpC < 20 €
Trust
Loans
Transformation
Investments
Payments
Customer
Emergency money
Peer to peer loan via SMAVA
Trust
Loans
Transformation
Investments
Payments
Customer
Trust
Loans
Transformation
Investments
Payments
Customer
Email
Twitter
Mobile number
Real time
And next?
Context
BankingNext
Do you want to buy
a new B&O TV set?
We can help you.
18 €
53 €
17 €
Source: Google
Technology?
The need for
new Banking
IT Platforms
Google
Apple
IT Intensity
IT cost per user
200
Tier 1/2 Bank Google
3,4
Facebook
3,8
eBay
7,4
[in USD p.a.]
# Web APIs
2000 2005 2014
>10,000
0
programmable web
There are already 451 financial APIs
CBS Country 1
Community PaymentsAccount
FrontEnd
Web /
Mobile
Product-
Features
Core-
Module/s
FidorOS
CORE
Interface to
C...
FidorOS on top
of local CBS
Fidor TecS AG
The FUTURE is NOW!
„The Fidor Smart Account kills the
traditional bank account, like the
smartphone killed the mobile phon...
Schwab@Fidor.de
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
The Fidor Bank Story, Frank Schwab, Fidor TecS AG
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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. 1. The Fidor Bank Story - Banking with friends Frank Schwab, CEO ABTEC April 2014
  2. 2. Financial crisis 2009
  3. 3. Lost of trust in banks Trust 100 0 2004 2014
  4. 4. Bahrain, Feb 2011 Source: Wikimedia Co
  5. 5. New York, USA, October 2011 Source: Wikimedia Commons
  6. 6. Frankfurt, Germany, October 2011 Source: Wikimedia Commons
  7. 7. Number of US banks Source: FDIC 1990 20112000 16,000 8,000
  8. 8. Number of German banks Source: Deutsche Bundesbank 1990 20112000 0 2,000 4,500
  9. 9. Source: Deutsche Bundesbank 1995 20112003 Number of German bank branches 0 40,000 70,000
  10. 10. There is a need to change the relationship between customer and banks
  11. 11. Disruptive innovation Wikipedia is an innovation that helps create a new market
  12. 12. If I had asked people what they wanted, they would have said faster horses.
  13. 13. “The future is always here - it’s just not evenly distributed yet.” William Gibson, Fiction Novelist
  14. 14. Digital Natives
  15. 15. 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
  16. 16. Digital lifestyle
  17. 17. And banking?
  18. 18. Trust Loans Transformation Investments Payments Customer
  19. 19. Trust Loans Transformation Investments Payments Customer
  20. 20. Banking with friends
  21. 21. Community
  22. 22. Transparency Sharing
  23. 23. Rate bank advisors
  24. 24. Rate products
  25. 25. Raise & answer questions Get money for
  26. 26. 250,000
  27. 27. CpC < 20 €
  28. 28. Trust Loans Transformation Investments Payments Customer
  29. 29. Emergency money
  30. 30. Peer to peer loan via SMAVA
  31. 31. Trust Loans Transformation Investments Payments Customer
  32. 32. Trust Loans Transformation Investments Payments Customer
  33. 33. Email Twitter Mobile number Real time
  34. 34. And next?
  35. 35. Context BankingNext Do you want to buy a new B&O TV set? We can help you.
  36. 36. 18 € 53 € 17 €
  37. 37. Source: Google
  38. 38. Technology?
  39. 39. The need for new Banking IT Platforms
  40. 40. Google
  41. 41. Apple
  42. 42. IT Intensity
  43. 43. IT cost per user 200 Tier 1/2 Bank Google 3,4 Facebook 3,8 eBay 7,4 [in USD p.a.]
  44. 44. # Web APIs 2000 2005 2014 >10,000 0 programmable web
  45. 45. There are already 451 financial APIs
  46. 46. 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 ...
  47. 47. FidorOS on top of local CBS
  48. 48. Fidor TecS AG
  49. 49. 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
  50. 50. Schwab@Fidor.de
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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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