Ramin Niroumand, founder of several fintech firms, plans to breathe life into a former Berliner Bank office block. Fintech enterprises are using software to create radically new services, so that they can lure customers away from traditional banks.
The financial technology sector is expected to overcome long-standing barriers to financial inclusion in poor countries. The IMF and the World Bank are calling on policymakers to "embrace the promise of fintech."
Once popular only with startups, small and medium-sized businesses are increasingly turning to crowdfunding to raise cash. When they bypass traditional lenders, firms can get their money faster and without the red tape.
A Bavarian startup specializing in online payments nudges Germany's second-largest bank out of the country's DAX index. Analysts say it's the latest sign of fintech firms outshining traditional lenders.
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