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

in-the-news_Challenger-banks_1920

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.

CISI members can sign in to continue reading
Published: 06 Dec 2019
Categories:
  • Fintech
  • The Review
  • News
Tags:
  • Lloyds Banking Group
  • RBS
  • Revolut
  • Starling Bank
  • Monzo
  • fintech
  • digitalisation
  • challenger banks

No Comments

Sign in to leave a comment

Leave a comment