NAnd so Yomo: The banking portal of the savings banks, which was originally intended to compete with neo-banks like N26, is closing. It was a long affair, which has now come to an end: With many advance laurels started in 2016, you never really got off the mark and lost yourself in small-scale business, only to half-heartedly launch a program on the market that had smileys in the transfer orders mastered, but could not have standing orders. Consequently, only a good dozen of the 400 regional savings banks participated. Each of them was able to set their own conditions, so that the entire offer never seemed to be from a single source. The exodus then began at the beginning of this year, most recently only the Kreissparkasse Mayen Yomo offered, which will now withdraw on Friday, as “Capital” initially reported.
Yomo is just the latest example of a whole series of news that recently illustrated that digitization projects by German banks are not far off. How the old and new world crash into each other is perhaps best shown by the antics game about the introduction of Apple Pay. Back then, the savings banks still sounded confident: no one can get past us! The red group quickly realized: Yes, it works, and pretty well. For example, they cooperated with Deutsche Bank. So the tactics were changed: Now they asked to release the so-called NFC interface on Apple smartphones in order to bring their own payment app to Apple phones. For this purpose, the collected lobby power was sent to the Berlin back room. In the meantime, Apple Pay started and developed very well. Even if no official data were made available, the banks involved were very positive. The lobbyists worked so hard, however, that a law was passed in printed matter 19/15163 and was named “Lex Apple Pay”. In short: A company that offers payment services is obliged to provide the technical infrastructure on request – Apple would have to offer an NFC interface. But in the meantime, it also made sense to the savings banks that customers no longer want a savings bank app, but want to pay with Apple. Now you will not use the “Lex Apple Pay” and cooperate with Apple through gritted teeth. In the meantime, customers have switched to institutions that offer Apple Pay and the lost sales will not be repeated anytime soon.