Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy.
For Finextra's free daily newsletter, breaking news and flashes and weekly job board.
Retail Banks across the globe face enormous cost for maintenances of bank branches, employees, Maintenances of ATM’s and kiosks and Service outlets to service their customers. As competition increases among the banking players, innovative technology solution helps banks to provide mobility banking solutions to serve the customers without compromising on security and compliance as per regulatory standards.
Challenger Banks are small retail banks which are operational in the United Kingdom. These banks provide banking services through Omni-channel platform to its customers. The Major advantages of challenger banks are
Some of the leading challenger banks in UK & Europe markets are MONZO, N26, REVOLT , Finn and Starling Bank .
In Near future, we can see only very few large banking players will have bank branches to serve their customers. As large banking players would like to have their own challenger banks, with help of their brand image & loyalty to attract more customer base via digital banking platforms. As these new entrants will provide tough competition to existing banking players in terms of technology, revenue, growth & profitability.
Senior consultant
Mindtree
Member since
30 Jul 2018
Location
Bangalore
Blog posts
12
Comments
10
08 Aug 2019 0 1
22 Jul 2019 0 1
03 Apr 2019 2 1
28 Mar 2019 0 2
This post is from a series of posts in the group:
Digital Banking trends and Industry Intelligence for Bankers, Fintechs, and Solutions Providers
Jan Thomas
20 Feb 0 6 5
Andrew Beatty
20 Feb 0 2 2
Satya Swarup Das
20 Feb 0 2 1
Anton Shmerkin
19 Feb 0 3 3