Interview with Dr. Silke Finken – New trends in the world of payments

by Fleming. Team

Recently, we have asked Dr. Silke Finken, Professor for International Management at the International School of Management and Former Senior Vice President of Operations and Services of DZ Bank in Germany a few questions about new payments channels and the state of innovation in the field of banking operations.

At the 13th Annual Banking Operations Forum, taking place in April 15-16 in Madrid, Spain, you can look forward to a more in-depth overview of the topic by Dr. Finken, who was rated as the best speaker at the previous annual.

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13th Annual Banking Operations Forum

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1. What are the most recent entrants into the world of payments?

New entrants into the world of payments are coming up with an increased frequency, but the question is which will attract enough funding to really achieve sufficient scale and scope. Looking at recent funding rounds, there has been increased investment in blockchain startups by major financial service players such as Mastercard, Visa, Citi, BBVA and Goldman Sachs in 2015. Additionally, a number of startups are entering the still very fragmented m-payment space as well as developing new P2P payment and lending services.

2. Which payment channels will be the most popular ones in 2016?

Though e- and m-payments exhibit high growth rates, traditional payment channels still dominate and will do so for a while longer. In countries like Germany, for example, credit transfers and direct debits are very efficient and secure payment instruments which in association with a bank account are very often free for retail customers – hence alternative payments have to offer an added benefit in order to be adopted on a large scale. Often, traditional instruments and infrastructures also build the backbone of many of the innovative solutions with electronic and mobile wallets frequently being funded through card-based payments or CTs/DDs.

3. How has the presence of fin-techs been improving the current face of banking operations?

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