UK digital-only banks—particularly neobanks—have broken into the mainstream, but not into steady profits. Under pressure from investors, neobanks are trying a range of strategies to diversify their revenue streams. Whether they can pull it off remains to be seen, so incumbents should seize this moment of flux to secure a bigger share of UK digital account holders.
3 KEY QUESTIONS THIS REPORT WILL ANSWER
WHAT’S IN THIS REPORT? This report delves into the largest UK neobanks’ growth and what’s fueling their rise, explores the challenges they face as the market evolves, and presents actionable steps that incumbents can take to strike back and win over digital account holders.
KEY STAT: By 2025, the UK’s cohort of digital-only banks—predominantly neobanks—will have captured more than half of the UK’s digital banking users, and almost 40% of adults overall.
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