In the news: Challenge accepted

Traditional banks are moving into the challenger space, while challenger banks are climbing the customer satisfaction ranks and spreading into niche markets
by Bethan Rees


Previously, traditional banks and challenger banks existed separately, but now the two appear to be edging closer in their offerings. Royal Bank of Scotland (RBS) has launched Bó, its own version of a challenger bank, reports IT Pro. This follows Lloyds Banking Group revamping its mobile banking offering earlier this year to include challenger bank-esque features, such as rounding up spending into a savings pot and real-time spending notifications.

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Published: 06 Dec 2019
  • Fintech
  • The Review
  • News
  • Lloyds Banking Group
  • RBS
  • Revolut
  • Starling Bank
  • Monzo
  • fintech
  • digitalisation
  • challenger banks

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