The global banking sector is facing massive change. Some 3500 start-ups worldwide are trying to lure customers away from established institutions. They arrange loans online and are using new smartphone apps to edge their way into the money market.
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Many of these changes are being spearheaded by former bankers who’ve grown weary of rigid structures. Digital banker Matthias Kröner was one of the pioneers of online banking in Germany. First he built up DAB direct bank. Now he heads a start-up, Fidor Bank.