FinTech and Data Privacy in Germany

Gregor Dorfleitner received his Ph.D. from the University of Augsburg, Germany, 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, Austria. Since 2007 he has held the positions of chair of finance and director of the Center of Finance at the University of Regensburg, Germany. Since 2010 Gregor Dorfleinter has been associate researcher at the Centre for European Research in Microfinance (CERMi) in Belgium. His research focuses on sustainable investments, investment decisions, microfinancing and FinTech with publications in many international scholarly journals. Lars Hornuf is a professor of business administration at the University of Bremen, Germany, specializing in the areas of financial services and financial technology. He holds an M.A. in political economy (University of Essex, UK) and a Ph.D. in economics (LMU Munich, Germany). From 2006 to 2008 he worked for the Ifo Institute for Economic Research, Germany and from 2008 to 2014 the Institute for International Law at the LMU Munich, Germany. He was a visiting scholar at UC Berkeley, Stanford University, Duke University, Georgetown University, CESifo and the House of Finance at Goethe-University Frankfurt. Currently, he is an affiliated research fellow at the Max Planck Institute for Innovation and Competition and an affiliate member of the CESifo Research Network. He is also a certified exchange trader and certified derivatives trader..

1. Introduction.- 2. Players in the German FinTech industry.- 3. FinTechs and data protection.- 4. FinTechs and data protection after the implementation of the GDPR.- 5. FinTech business models.- 6. Need for regulation in the German FinTech market.- 7. A summary in eleven theses.