2  BIS central bankers’ speeches  In the light of these developments, it would be criminally negligent for banks and savings banks to simply adopt a wait-and-see attitude: other industries have seen new technologies become the standard in no time at all. Examples include digital photography, the advent of smartphones and online media.
Once digital technology has established a foothold, banks will no longer be able to put the genie back into the bottle. With regard to online and mobile payments, German banks have, in the meantime, seen the writing on the wall and have developed their own in-house solution, known as PayDirekt.