Every week we take a deeper look at issues and stories changing your world. In our Collections, Mogul News gives you the tools you need to make up your own mind. Collections bring together handpicked articles from the world’s top publishers offering insight and analysis in one place.
This week we take a look at how new, digital banks are disrupting the industry. Here’s a quick note from our editor about what we cover in this week’s Collection!
Adapt or die. Charles Darwin wrote words to that effect when he was describing why certain species survive and others go extinct. This notion applies to many fields today, banking not least amongst them.
Retail banking, the type we do every day, depositing our earnings in a current account, spending money on a debit card at the supermarket, is having to adapt. A new breed of financial companies is disrupting the industry, especially in the UK.
Revolut, Monzo, N26 all lack the ‘Bank’ or ‘Building Society’ usually found at the end of firms of old. They are abandoning the high street and everything is carried out on your phone rather than in a branch. No queues, little fuss and new services developed and delivered quickly mark them out.
In this Collection, we examine the rise of these new ‘banks’, how they are performing and how traditional organisations are adapting to these new players. Explore all of this in ‘Challenger banks’ now!
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Have a great weekend!