Covid-19 has accelerated bank closures across all regions in Western Europe and the US. The pandemic has changed how people bank – it might not be (yet) permanent but the crisis is an accelerator for mobile-only banks and challengers of traditional banking.
This article is part of our client-exclusive Digital Dossiers at Wildstyle Network.
Let’s take a look at the state of those who challenge the status quo and the traditional way of banking: Challenger banks. Specifically, why they’re continuing to gain traction, how they’re expanding product sets beyond debit cards and digital accounts, and why they’re a threat and an example to traditional banks.
Traditional banks are not sleeping behind the wheel. They’re already responding. By mimicking the digital, structural, and behavioral trends of today’s challenger banks. This paves the way for an end of cash. It has never been closer.Continue Reading ›