CAN'T BEAT 'EM, JOIN 'EM? : THE RISE OF THE NEOBANK

In the UK, we have seen a lot of neo-bank activity recently. Monzo has hit 500,000 customers¹, Starling Bank is now offering business solutions and Tide will soon provide an international payments service². In Europe, we’re similarly seeing new players emerge, such as N26, a mobile retail bank, and Penta, also German, but aimed at small to medium business customers.

The message from the neo-banks to incumbents is clear: we’re here to stay and we’re coming for your clients.

So...

• Should incumbents be worried?
• How do you turn a neo threat into an opportunity?
• What are the options?
• What should banks do next?

^{1 https://monzo.com/blog/2018/03/19/500k-customers/}

^{2 https://www.telegraph.co.uk/business/2017/10/21/sunday-interview-digital-business-bank-tide-shooting-open-goal/}