Yet at the same time, supervisors are keen to take account of the competitive environment. The Single Supervisory Mechanism, of which we are a member, today released a consultation on guides concerning the assessment of licence applications – and this explicitly also addresses the question of fintech credit institution licence applications. I urge banks and fintechs to use the consultation phase constructively.
3/6  BIS central bankers' speeches  5. Banks and savings banks must become more efficient I come now to the cost side and to the challenge of compensating for declining income through greater efficiency. This brings me to my fourth theory: German credit institutions could provide their services more efficiently.