HSBC and RBS are rolling out new digital banking platforms - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

It's a smart time for incumbents like HSBC and RBS to assess their digital strategies to stave off the rising tide of fintechs and challengers:

And to complicate matters further for incumbents, neobanks are seeing strong along several axes: UK neobanks saw 5 million new accounts opened in the first half of 2019 alone, and average deposit balance among challenger banks — while still relatively small — has quintupled from £70 a year ago to £350 , While UK fintechs and neobanks are shrinking the gap, incumbents have a substantial window of opportunity to mitigate the challenger bank threat.

That might be because a narrow majority of UK consumers say they feel that a digital bank is a riskier place to store money than traditional banks, per research from Propeller Insights by ComputerWeekly. This suggests that incumbents that take action — like HSBC and RBS are — still have a chance to curb the threat from challengers by designing desirable digital offerings., Business Insider Intelligence's expert product suite tailored for today's decision-makers in the financial services industry, delivered to your inbox 6x a week. >>

 

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

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Apple Card under fire for alleged discrimination - Business Insider - Business InsiderApple Card is under fire for alleged discrimination – some husbands received greater credit limits than their wives despite shared financial accounts. Apple are getting into the debt business. They have to do something with all that hoarded tax money sitting in banks doing nothing. dhh is your profile photo that outdated? 😂😂😂
Source: BusinessInsider - 🏆 729. / 51 Read more »

Chipotle's new carne asada steak could become a permanent menu item - Business InsiderChipotle's new steak might become a permanent addition to the menu. Here's why that would be a great idea for the chain.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Instagram testing Reels, a new TikTok-style video feature, in Brazil - Business InsiderInstagram launched a new viral video feature for users in Brazil that is nearly identical to rival Chinese social video app TikTok. Obviously this was gonna happen 😂, took longer than I expected 🤦🏾‍♂️🤷🏾‍♂️ Having copied Twitter, Snapchat, Wechat, and a bunch more, is it any wonder that facebook is copying the app it described as “loathsome”?
Source: BusinessInsider - 🏆 729. / 51 Read more »