Digital Banking – Battle for the Home Screen

The growth in digital banking is showing no signs of slowing down. Convenience, speed, and security aren’t just extra benefits in consumers’ minds anymore. They are now a standard requirement of the rapidly changing customer-bank relationship. As a rule, traditional bank institutions struggle to build a loyal customer base, while the newly emerging digital-only banks, like Monzo or Tandem, have all the attributes of a strong brand and can keep customers both happy and engaged with their product. According to the BI Intelligence survey, “71 percent of millennials say it’s very important to have a banking app and 60 percent say it’s very important to have an app to make payments.” Although the shift to digital banking has led many traditional banks to create their mobile apps to enable customers to manage their money from their smartphones, many innovative fintech startups have gone a step further to completely remove the need for brick-and-mortar branches…Read More > >

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