Innovation in Finance: Increasing Public Acceptance of Fintechs Through Storytelling.

The objective of this research paper is to determine whether storytelling can positively influence public acceptance of digital finance business models – fintechs – in Germany. We conducted seven structured interviews with experts from the finance and branding sectors and quantitative research on a sample of Germans. Our findings provide valuable insight into the status quo of digitalisation in the German finance sector and the importance of storytelling as a marketing tool. They highlight the strong potential of fintechs, showing that storytelling positively influences public acceptance of innovative financial service providers. Notably, however, personal contact with a traditional financial advisor is shown to still be highly important to the German respondents. This study offers valuable information for banks concerning their future positioning in the financial market as well as for fintech companies looking to enter the German financial market or increase their market share. [ABSTRACT FROM AUTHOR]