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neo banks
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323

The future of neo-banks and inside Revolut’s Singaporean launch

via Sifted

It was widely reported last week that Revolut launched its travel card in Singapore, its first move in Asia. But there are few obstacles ahead.

Last week Sifted welcomed two guests to our first remote roundtable to discuss the fate of challenger banks. The panellists were Roxane Sanguinetti, a former Bank of America Merrill Lynch trader who now runs a capital markets fintech, and George Davies, a managing partner at European venture capital fund Hambro Perks.

The conversation centred on neobanks’ need for niches, the fragility of young brands and their survival prospects. (more…)

Analytics, Banks, InspirAsia, Mobile-first banks, Singapore

October 28, 2019

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As Challenger Banks Grow In Popularity, Incumbents Must Innovate

via Fintechnews Singapore

Using technology and digital channels, challenger banks are reimagining banking, delivering superior digital customer experience and challenging incumbents to reinvent themselves.

These are growing in importance and incumbents must “transform themselves from slow moving caterpillars to agile butterflies,” according to a report titled Bank X: The New New Banks by Citi Research.

These challenger banks that are also sometimes referred to as neo banks, are designed around meeting current customer expectations and leverage data insights to offer better personalization and fully digital banking experiences. (more…)

Analytics, Banks, Global trends

May 28, 2019

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Why a former trust company launched a digital-only bank

By Mary Wisniewski for the American Banker Magazine,

Rather than partner with a neobank, a more than 45-year-old Canadian financial services company chose to build a digital-only brand to acquire retail customers and to control the user experience. (more…)

Banks, Fintech news, Mobile-first banks

February 4, 2016