7 Questions

5 Questions with Andreas Thümmler, Acxit Capital Partners

1. Tell us a bit about yourself and your focus areas, overall and within FinTech

I am one of the leading technology M&A bankers in Germany. Our advisory firm „Acxit“ has 5 offices and 70 M&A specialists in Germany and Switzerland. Technology deals and especially Fintechs are a very important focus of us.

2. What opportunities or challenges are FinTechs creating for European Financial Institutions?

Right now they create a lot of headaches for classical banks and insurances. So from their perspective, there are a lot of challenges and the speed of developments is very fast.

3. What do you think about the incumbents’ response so far?

Marketplace operators like Deutsche Börse face the challenges by acquisitions like 360T. Some traditional banks sell their payment solutions providers like ConCardis and Internet Banking platforms like Fidor to Private Equity Funds and generate high exit prices on first sight. Maybe not such a smart move.

 

4. Which way do you see the sector going and who would be the likely winners?

„Traditional“ banks will be replaced by Fintechs and 500 pound gorillas coming from fields of payment solutions like Wirecard for example.

 

5. What’s on your bookshelf/holiday reading list?

„The Age of spiritual Machines“ by Ray Kurzweil. Especially his „ time line “ in this classic book is very remarkable.