In order to assess not only the present but also the future importance that FinTech companies will have for the German market, we provide a forecast of the size of the FinTech market for the next 5, 10 and 20 years. Despite the current media presence of the FinTech industry, our empirical study shows that it currently has a small volume relative to the entire financial market. Traditional financial institutions or asset managers today claim the largest market shares in the respective subsegments. However, the current state of the market does not rule out the possibility that the markets addressed by FinTechs are developing rapidly, as has been the case with other disruptive technologies, such as those occurring within the music industry or online hotel bookings.
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As part of the implementation of Basel III, an SME supporting factor was introduced in the Capital Adequacy Directive and its corresponding Capital Adequacy Regulation to compensate for the higher capital requirements for banks providing SME loans EBA (2016).
The minimum sales figure varies with the individual factoring companies. A large proportion of the members of the German Factoring Association (Deutscher Factoring-Verband 2016b) stated that they would require minimum sales of between 100,000 EUR and 5 million EUR.