Insight into Digital Challenger Banks, 2021 Report Featuring 86 400, Xinja, Up, Atom, Metro, Monzo, Starling, Tandem, Nubank, Chime, KakaoTalk, KakaoBank, Cuscal, Ferocia, Revolut & N26 - ResearchAndMarkets.com
Summary
In the last decade, the concept of the digital-only bank has gone from isolated upstart players to a global phenomenon present in all major regions around the world. In the last two years alone, many digital challenger banks have witnessed rapid growth in customer numbers, and the advent of COVID-19 has accelerated this trend in some instances. Other markets such as the UK and Europe have proved easy for startup banks and third-party tech providers to enter but difficult to sustain. This has culminated in creating a mature market of hundreds of small players, producing increasingly specialist banks to solve particular needs that will struggle to achieve success over the longer term. It covers a wide range of categories including strategy, products, goals, funding, strengths, weaknesses, and overall prognosis.