Every winter evening, I used to open my bedroom window, hoping for a breath of crisp, clean air before sleep. It was a simple ritual, meant to refresh the room. Now, however, that simple act has become a frustrating reminder of the disconnect between our collective sustainability goals and the realities of individual choices. Instead of invigorating freshness, I'm often met with the acrid smell of wood smoke, a clear indication that my neighbors are fueling their homes with fireplaces. It's a small thing, perhaps, but it strikes me as utterly absurd, especially given the constant barrage of discussions surrounding sustainability, CO2 reduction, and the urgent need to protect our environment.

This personal frustration is amplified by my professional life. As a member of bank supervisory boards, I'm deeply involved in implementing increasingly stringent ESG (Environmental, Social, and Governance) rules and regulations. These regulations, often driven by political mandates and supervisory authorities, are designed to push large corporations towards more sustainable practices. Yet, the smoke drifting in through my bedroom window feels like a direct contradiction, a symbol of how difficult it is to translate these top-down mandates into tangible changes at the individual level. It feels doubly frustrating to be tasked with enforcing these rules while witnessing such a blatant disregard for environmental concerns in my own neighborhood.   

I've been passionate about sustainability for a long time. Even back in my student days as a business informatics major at the University of Mannheim, I was actively involved in "Wirtschaft und Umwelt," a student organization focused on environmental and economic issues. So, the concept of sustainable living isn't new to me. What's become painfully clear, though, is that rules and regulations, while necessary, are simply not enough. They can only be effective if they're supported by a widespread commitment to sustainable practices at every level, from large corporations to individual households.

Our own home, thankfully, stands as a small counterpoint to the wood-burning trend. For the past 16 years, we've heated and powered our house with geothermal and solar energy. Sustainable alternatives exist and are viable. It's not about grand gestures; it's about making conscious choices in our daily lives.

The smoke in my bedroom isn't just an annoyance; it's a metaphor for the challenge we face. We need a more holistic approach to sustainability, one that bridges the gap between lofty policy goals and the everyday actions of individuals. Until we address this disconnect, the dream of a truly sustainable future will remain just that – a dream.

#esg #sustainability #dream 

#SundayThoughts 

FrankSchwab.de

Despite the complexity of the theme, we had a productive discussion with the DG FISMA delegation.

The themes we discussed

1️⃣ Single European Capital Market

To compete globally, Europe needs greater market integration. A true single market must be:

📌 Attractive (e.g., simple, competitive tax system)

📌 Effective (unified rules and regulations, e.g., single AML/KYC framework)

📌 Efficient (convenient, low-cost access)

📌 Example: One KYC regulation valid across the EU.

2️⃣ Reduced Bureaucracy

New regulations (e.g. DORA) should only be introduced when existing ones are decommissioned or significantly simplified (e.g., by >80%).

3️⃣ Pan-European Regulatory Sandbox

We explored the possibility of DG FISMA creating a pan-European regulatory sandbox to support early-stage fintech companies.

🔥 We also discussed potential "Lighthouse Projects"

💡 A common European stock exchange

💡 A "Tokenized European Company SE light" (valid across Europe, enabling investment from all Europeans and global investors using digital EUR)

The DG FISMA delegation was very receptive, asked many questions, and expressed interest in the "Lighthouse Project" concept. They will be consulting with all EU member states to gather further input.

🙏🏻 Thank you to everyone who supported us in preparing for the consultation.

The FinTech Forum is eager to contribute our expertise and develop concrete proposals. 

#europe #europeancommission #eu #ec #fisma #cmu #fintech 

FrankSchwab.de

In today's complex global landscape, the fight for freedom and democracy is more critical than ever, especially for us in Germany and Europe. These values, however, do not come for free; they are earned through struggle and sacrifice, as history vividly demonstrates, from the storming of the Bastille during the French Revolution to countless other battles. 

The resurgence of hostile powers like Russia, with its expansionist ambitions, poses a direct threat to these hard-won democratic values and our very way of life. Simultaneously, our traditional allies, like the US, are becoming more demanding, challenging the balance of power and requiring us to assert our own stance. The rise of non-democratic forces like China, with its growing economic and political influence, further complicates the situation. 

Furthermore, the rise of nationalism in some European countries, often with autocratic tendencies, presents a dangerous internal threat to freedom and democracy, eroding the very foundations of our societies from within. 

In this multifaceted environment, we must actively champion freedom and democracy, not only to safeguard our own nations but also to promote these values globally. Our commitment to these principles serves as a beacon of hope for those struggling against oppression and tyranny. By standing firm in our beliefs, we honor the sacrifices of those who fought for these ideals and contribute to a world where human rights and democratic principles are respected and upheld. 

The defense of freedom and democracy is not merely a political choice, but a moral imperative that defines our identity and shapes our future. We must remain vigilant and proactive in this struggle, both against external aggressors and internal threats, ensuring that the values we hold dear, values purchased at a great price, continue to flourish.

#freedom #democracy #Europe 

#SundayThoughts 

FrankSchwab.de

In the past few days, I've come across the topic of customer loyalty programs several times.

Rewe (a large German retailer) has withdrawn from Payback (biggest German loyalty program - cross industries). But now you can collect Payback points at Edeka (another large German retailer) and the Payback app is barely usable without the Edeka logo blocking access to the functions for several seconds.

A business friend from a bank told me that he gained 45,000 new customers last month through a "refer a friend" program, although he had only expected 15,000.

And I've recruited my daughter as a customer for a free Mastercard Gold credit card because she needs one now and I had already gotten one for testing purposes last summer. We both have now each received 60 euros after the card was used for the first time within a few days.

We talk a lot about individualization, AI-supported marketing and advertising, hyper-personalization, and much more... to gain new bank customers.

But isn't it actually much simpler?

A simple product with clear benefits for customer, such as the free Mastercard Gold (€0 annual fee, including travel insurance) and a simple incentive system.

This seems to be working for Advanzia Bank and its customers, see also my case study from July 2024.

And for those who also interested in such a credit card and 60 EUR from the referral program, here is my referral link

🔗 https://refer.gebuhrenfrei.com/e8xucq (Germany 🇩🇪 only) 

I'm very excited to see the result...

Case study 🔗https://bit.ly/4cVZU56 

#friends #loyalty #sales #marketing #banking #digital #customer 

#SundayThoughts 

FrankSchwab.de