How COVID Has Affected Challenger Banks
Challenger banks have been making the headlines for a few years now in countries all around the world. In an industry where the banking behemoths often find it difficult to affect change at a fast pace, the promise of easy to open, easy to operate accounts with great user features has been attractive for many people. So what is a challenger bank? Basically, they are a new collection of smaller banks looking to compete directly with the more traditional, established banking system. Most of them are founded on ‘digital first’ principles, meaning that they do not have any branch based bank accounts at all. Despite what some people might say, they are officially licensed banks and they are definitely disrupting … Read more