Matthias Kröner is someone who likes to challenge the establishment. In his line of work, that means taking on the big, bad, traditional banks.
When he was just 30, Mr. Kröner headed DAB Bank, Berlin’s first online broker. Today the 50-year-old is the chief executive of the German online bank Fidor, where he has invented a new business model.
Fidor’s livelihood depends on the direct involvement of its customers. In fact, they even have a say in how much interest they receive on their deposits with the bank. Mr. Kröner calls his approach “the customer as co-manager.”
Now Mr. Kröner is striking out on an entirely new path once again. Instead of challenging the big banks, he plans to join them.
Fidor will be acquired by the France’s second-largest bank BPCE, as both firms announced Thursday evening.