The future looks bright for consumer adoption of challenger banks - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Consumers are turning to nontraditional financial institutions because they have more customer-friendly offerings:

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.

from Capgemini. And 61% said they currently have a loan or mortgage from a challenger bank or were likely to get one in the next three years.Compared with the average consumer, those thinking about switching banks are even more likely to get financial products from challenger banks in the near future. Among consumers who say they are likely to switch their primary bank in the next 12 months, the chance of adoption increases.

Interest from potential primary bank switchers provides a critical opportunity for challenger banks. While any chance for higher adoption is a good sign for challenger banks, the fact that consumers looking to leave their primary bank in the next year are particularly interested in challenger bank offerings is especially good news.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BlueVine launched business banking services for SMBs - Business InsiderBlueVine is joining other neobanks and fintechs filling the gaps where incumbents fall short by addressing SMBs' lending needs:
Source: BusinessInsider - 🏆 729. / 51 Read more »

Instagram star Gal Meets Glam has sold $35 million of fashion products - Business InsiderAn Instagram star who has sold $35 million of her own products explains how she built her fashion line and turned followers into customers
Source: BusinessInsider - 🏆 729. / 51 Read more »

Monzo and Starling have been poaching customers from major high street banks - Business InsiderMonzo and Starling have been luring customers from high street banks – gaining 13,453 and 6,686 net current account customers, respectively.
Source: BusinessInsider - 🏆 729. / 51 Read more »