🏦What does it take to set up a new bank or a #neobank as they call it?

Are they on the high streets or in your pocket?

Confused about ‘Neo’, ‘Challenger’ and ‘Digital Banks’ jargon?

History tells, a small number of banks always dominated the #UK market – the so-called Big Four – with virtually no competition at all.

And when #MetroBank received their #challengerbanks license in 2010 or #Atom became the UK’s first official licensed #Neobank, it was the first one to have been issued by the UK government in 100 years.

UK, being one of the early adopters of a neobanking environment, will it erode the banking relationships for years?

Let’s take a look at this week’s FINCUTS that unbundles some insights for you about the UK’s Digital Challenger Banks or Neo Banks.

Feedback welcome 🙂