Are Challenger Banks Just Secondary Accounts for Customers?

There is no question that challenger banks like Revolut, Monzo and N26 have acquired massive amounts of customers; it leads to the question of whether the big banks should be concerned about losing customers altogether; a mobile advertising technology company called Ogury recently looked at mobile banking behavior of 688,000 people in the UK; what they found is that the traditional banks still have a larger market share and also have more faithful customers; Monzo ranked the highest exclusive customer base among challenger banks at 22%; the Financial Times digs further into the idea that customers are simply leveraging the challenger banks as secondary accounts. Financial Times

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.