The coronavirus pandemic is driving up user growth among digital-only banks, but it has also ratcheted up long-standing pressures on them. Neobanks are facing increasing pressure to monetize as lockdowns have swept through the US, the UK, and Canada.Meanwhile, incumbent banks' digital brands, known as direct banks, are dealing with competitive demands on the digitization front to retain market share against tech-savvy neobanks.
Digital-only bank account holder numbers will increase across the US, UK, and Canada during the forecast period — the steepest increase will be for the US at a compound annual growth rate of 19.8%, versus 12.7% in the UK and 9.8% in Canada. Chime will boast the highest number of account holders among US digital-only banks by the end of 2024, with 9.5 million. In the UK, Monzo will claim the top spot with 4.0 million account holders in the same period.Gives an overview of the key trends we expect to see across digital-only bank account holder numbers in the US, UK, and Canada — and the key international factors we expect to influence these trends.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A tour inside a 3D-printed home that took one week to build - Business InsiderThis company is building 3-D printed, small homes on existing residential properties to fight back against California's housing shortage. Look inside a unit that was move-in ready in one week.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Trump's relationship with multi-level marketing company ACN - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Can't make this shit up. Just read your hit piece on the laptop. 'Conservative Tabloid', 'Trumps personal Lawyer', 'Trumps handpicked DNI', Ron Johnson, Staunch Trump Ally'....paint that narrative. FBI says nothing to add. The laptop is real. Hunter even signed for the drop off. The media is scary.
Source: BusinessInsider - 🏆 729. / 51 Read more »
5 digital solutions that can transform and elevate your business during the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Entrepreneur good
Source: BusinessInsider - 🏆 729. / 51 Read more »
Snap stock soars after the Snapchat owner smashes profit and user-growth forecasts - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Key takeaways from eMarketer's enterprise collaboration tools forecast - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
PITCH DECK: Insha raises $3 million for ethical banking - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »