In the field of tension between banks, FinTechs and technology giants, there will not be many winners in the area of platforms. But whoever controls them also occupies the customer interface and thus the data. Platforms such as Uber, Airbnb or Amazon have reset the rules of the game in existing industries with low levels of innovation. In order not to fall victim to FinTechs and technology giants, the established financial institutions must act. The future lies in a financial home as a central point of contact for the end consumer. There, they can conduct all their financial transactions, receive tailored offers, and also gain access to a comprehensive “beyond banking” offering.

The traditional banks still have the opportunity to assert themselves against the tech newcomers and firmly position themselves in the market. But to do so, the banks must shed their “silo mentality” and open up to third-party providers with their own interfaces – because the customer expects a solution from a single source. This development offers courageous and creative banks an opportunity to occupy the customer interface for themselves and to set themselves apart on the market by strategically integrating partners and using network effects.