In Capco’s August report, Can’t Beat ‘Em, Join ‘Em?: The Rise of the Neo Bank, we reported that Monzo, the UK based neo bank offering current accounts, had hit 500,000 customers; and that they, along with Starling Bank, had just come at the top of a customer satisfaction poll for ‘The Best British Bank’; that N26, the European challenger bank, was still described as a newcomer. Just a few months later, the growth from these new market players has been astounding.
If you weren’t paying attention to the neo banks before, you are now. In our latest neo banking article, we cover:
- Why neo banks have not marketed their services
- The customer centric design
- Changing customer expectations
- The importance of a brand