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I didn't know about Nordigen, but how are they able to support the absurd amount of 1222 banks in Germany? Looks like a good indicator how broken the digital wo
by philipphutterer 4y ago
I didn't know about Nordigen, but how are they able to support the absurd amount of 1222 banks in Germany? Looks like a good indicator how broken the digital world of banks here really is.
- Jnr 4y agoIn EU all the banks have to support a common standard. They all use that standard to interface.
- philipphutterer 4y agoTrue, from a technical point of view, this should actually be quite simple. But I'm referring more to the administration overhead caused by the large amount of small banks that are considered their own credit institution. In a lecture, we were once shown a chart comparing the costs of financial operations in the European countries. Germany had by far the highest costs. This mess will not survive the next 10 years.