FinTech in Germany (eBook)

Prof. Dr. Gregor Dorfleitner pursued graduate work in electrical engineering, mathematics and business administration at the University of Augsburg, from which he received his Ph.D. in 1998. He completed his habilitation in the field of business administration in 2003 and from 2004-2007 he was a professor at the Vienna University of Economics and Business. Since 2007 he has held the positions of Chair of Finance and Director of the Center of Finance at the University of Regensburg. His research focuses on sustainable investments, investment decisions, microfinancing and FinTech, and it has been published in numerous international scholarly journals.Jun.-Prof. Dr. Lars Hornuf, who pursued graduate work in political economy at the University of Essex, joined the University of Munich in 2006 from which he received a Ph.D. in economics in 2011. He has been a visiting scholar at UC Berkeley, Stanford Law School, Duke University, Georgetown University, the Center for Economic Studies, and the House of Finance at the Goethe University Frankfurt. In 2014 he was appointed Assistant Professor of Law and Economics at the University of Trier. He is currently an Affiliated Research Fellow at the Max Planck Institute for Innovation and Competition at Munich. His research focuses on FinTech, law and finance, as well as fraud and behavioral science.Matthias Schmitt is a research fellow and doctoral student at the Max Planck Institute for Innovation and Competition at Munich. He has master's and bachelor's degrees in business administration from the Ludwig Maximilian University of Munich. He has professional experience in the banking industry and in corporate finance and strategy. His research interests include entrepreneurial finance and FinTech.Martina Weber is a research associate and doctoral student at the University of Regensburg. She holds an M.Sc. in business administration (with honors) from the University of Regensburg and an M.Sc. in Economics with a focus in finance from Murray State University in the USA. Her professional experience includes training as a bank clerk and various internships in finance. Her research focuses on FinTech and alternative forms of financing for small and medium-sized companies.

About This Book 5
Contents 7
About the Authors 9
List of Figures 11
List of Tables 13
Chapter 1: Introduction 14
Chapter 2: Definition of FinTech and Description of the FinTech Industry 17
2.1 Definition of FinTech 17
2.2 Segments of the FinTech Industry 18
Chapter 3: Methodology 23
Chapter 4: The FinTech Market in Germany 25
4.1 Current Market Environment 25
4.2 General Market Trends 27
4.3 Crowdfunding 30
4.4 Donation and Reward-Based Crowdfunding 31
4.5 Crowdinvesting 34
4.6 Crowdlending 40
4.7 Credit and Factoring 43
4.8 Social Trading 44
4.9 Robo-Advice 47
4.10 Personal Financial Management 49
4.11 Investment and Banking 50
4.12 Payments 52
4.13 Insurance 54
4.14 Global Player 56
4.15 FinTech Activities of German Banks 57
Chapter 5: International Position of the German FinTech Market 59
5.1 Donation and Reward-Based Crowdfunding 60
5.2 Crowdinvesting 62
5.3 Crowdlending 63
5.4 Robo-Advice 64
5.5 Alternative Payment Methods 65
Chapter 6: Forecasts for the FinTech Market in Germany 67
6.1 Methodology 67
6.2 Potential Addressable Markets 68
6.2.1 Donation and Reward-Based Crowdfunding 68
6.2.2 Crowdinvesting 70
6.2.3 Crowdlending and Other Types of Credit 71
6.2.4 Factoring 72
6.2.5 Social Trading, Robo-Advice, and Investment and Banking 72
6.2.6 Personal Financial Management 73
6.2.7 Payments 73
6.2.8 Statistical Adjustments 74
6.3 Potential Market Penetration of FinTech Businesses 75
6.4 Forecast 76
6.4.1 Donation and Reward-Based Crowdfunding 78
6.4.2 Crowdinvesting 79
6.4.3 Crowdlending and Other Loans 82
6.4.4 Factoring 86
6.4.5 Social Trading, Robo-Advice, and Investment and Banking 88
6.4.6 Personal Financial Management 91
6.4.7 Payments 92
Chapter 7: Academic Research 96
7.1 Donation and Reward-Based Crowdfunding 96
7.2 Crowdinvesting 98
7.3 Crowdlending 102
7.4 Social Trading 106
Chapter 8: Summary 108
Appendix: List of FinTechs 111
References 122
Data Sources 129