Katharina Schneider, financial correspondent of Handelsblatt, answered some questions about fintech.
Who are you and what are you doing?
My name is Katharina Schneider and I am a journalist. After my studies (economics and politics) I started quite fast at Handelsblatt in Düsseldorf. For four years I have been working as a financial correspondent in the Frankfurter editorial office.
Your touch with FinTech?
One of my first major projects in Frankfurt in the summer of 2015 was a series on the topic of Fintechs. Title at that time: “FinWeb – How the net turns the banking industry upside down”. Since then, the topic has not let me go.
What does FinTech do for you, after all these years, still special?
I find it exciting how young companies scrutinize traditional processes in the financial industry and (mostly) focus on the needs of their customers. By doing so, they are slowly but surely also causing a change in thinking among traditional banks and financial service providers and have become indispensable in the industry in the meantime.
What do you think are the three most important future trends in the financial sector in 2019?
I expect a lot of potential from the EU Payment Services Directive PSD2, which will be fully effective with third-party regulation and the new interfaces to the bank account this year. I’m curious to see when this will benefit the big techs too. Applications using Artificial Intelligence will be further developed in 2019. However, I do not expect the big breakthrough here this year, because the financial sector is still far from using all the data that is theoretically available. I expect faster progress in hybrid customer approach, because with “online only” you can not reach the broad mass of the population. The bandwidth is expected to range from chatbots to roadshows.
What is missing from the industry in 2019?
Until recently I would have said “a unicorn”. Now I’m curious who will follow in this direction and how on the other hand, the consolidation continues, which has already begun at certain points.
What are your three wisdoms for founders?
In the beginning, there is no need for a PR expert, but one in the team should feel responsible for press inquiries.
Choosing a PR agency will make sure the consultants understand your business idea correctly.
Be honest, if your business idea is good, you do not need any hypocritical slogans and certainly no so-called PR coups.
Where will you meet in 2019?
Always happy to have coffee in Frankfurt and virtually on Twitter and LinkedIn. My travel planning regarding fintech events is still ongoing. Of course, the Exec-Fintech is a must-attend event.
Also published on Medium.