Challenger banks RSS
The journey from unbundling to rebundling and back has been a formidable one. Open Banking and emerging technologies and the pace of innovation are driving changes throughout the banking industry... more
In the last couple of weeks two Challenger banks have hit the UK. N26 is a German direct bank, headquartered in Berlin, that offers its services throughout most of the... more
The post Why the High Street banks should start to be concerned by the Challenger banks appeared first on Payments Cards & Mobile.
Challenger banks were hailed by politicians as the way to break the stranglehold of the UK’s big four high street banks. The challengers have enjoyed rapid growth, helped by benign economic conditions, low interest rates and cheap central bank funding. Now they are confronting a tougher climate — as shown by the £1.6bn takeover approach [...]
New research from FIS reveals that Britain’s challenger banks are outscoring their High Street counterparts in meeting their needs for digital payments, easy to understand and use products/services, innovative products/services and anywhere/anytime connectivity to their accounts. The research also shows the emergence of a new “Super Segment” of higher-income Gen Xers and senior millennials that share [...]
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ACI Worldwide has announced a collaboration opening up access to the Faster Payments Scheme in the UK for a significant number of financial institutions, including challenger banks and payment service providers (PSPs). Historically, access to the Faster Payments Scheme for challenger banks and PSPs was restrictive, often not real-time and typically expensive. ACI’s relationship with Raphaels [...]
The post ACI enables PSPs and challenger banks to access UK Faster Payments appeared first on Payments Cards & Mobile.