Kassel. fino wants to enter the European and successively world-wide market to maintain its leading position in German FinTech enterprises. After all, advancing into foreign markets is nothing but a logical outcome in a globalized world. And since the EU guideline PSD2 has come into force, it has become easier for fino not only to establish its smart financial servicesinternationally, but also to actively co-create this new, Europe-wide market. “Not least we want to keep up with our partners, who are playing the international stage, too”, Florian Christ, founder and CEO of fino, explains the decision.
While digital banking services are already well established in Germany, it’s still a quite different story in some of the neighbouring countries. In Spain, for example, there are hardly any online banking offers in spite of growing demand for smart and efficient payment methods. In Italy and Greece, too, the banking system has been less than innovative so far. Together with its notable partners, fino can confront this situation and assume a pioneer role in digital financial services, reaching far past Germany’s borders.
“As well as the consideration to gain a foothold in an underdeveloped market, we at fino have the idea to convince with our product approaches”, Florian Christ reveals.
In Croatia, for example, accounts are being switched quite often. fino’s ingenious Account Switching Service and Account Switching Aid would be a suitable approach here. In Spain and France, however, every second payment is made by card – “meaning that this aspect is a possibility for product development”, continues Christ. And even the North American market, being the biggest one, is worth the move of introducing fino’s innovative products across the Atlantic. After all, it is the company’s vision to find fino in every second back pocket across Europe and the USA by 2020.
fino started in 2015 with a staff of five. Today, the team works with over 100 employees in the three locations Kassel, Hamburg and Lübeck on a broad portfolio of digital products and services for clients from a banking and insurance background, as well as for end consumers. The companies counting on fino’s solutions include German and international credit institutions like Commerzbank, Sparkasse, Volksbank, insurances like R+V and other large enterprises like DATEV, SCHUFA, B.Braun, and the Lufthansa offspring Miles&More.Back