{"id":16088,"date":"2021-06-16T16:39:18","date_gmt":"2021-06-16T16:39:18","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=16088"},"modified":"2021-06-16T16:39:18","modified_gmt":"2021-06-16T16:39:18","slug":"how-challengers-banks-changed-retail-banking","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-challengers-banks-changed-retail-banking\/","title":{"rendered":"How Challengers Banks Changed Retail Banking"},"content":{"rendered":"<p>Challenger banks have gained traction over the past few years by developing streamlined, digital-first retail banking services such as checking and savings accounts, loans, insurance and credit cards. Challenger banks, which rely on mobile and desktop platforms as their main \u2018branches\u2019, first made inroads by developing different business models that charged customers transparent low fees, provided faster services and delivered better user experiences. They also targeted underserved clientele such as lower-income brackets and those lacking a credit history. The COVID-19 pandemic has further accelerated the growth of these digital-first banks as the masses embrace a more digital lifestyle. Seeing the proverbial writing on the wall, traditional banks are now scrambling to develop their own digital offerings and making significant investments into digital transformation.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-16088 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Financial Institution Positioning for Long-Term Post-Crisis Success'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/financial-institution-positioning-for-long-term-post-crisis-success\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/12\/d700e3b9-5d96-e344-814a-6e11673c84441-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16496\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16496'>\n\t\t\t\tFinancial Institution Positioning for Long-Term Post-Crisis Success\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='The rise of biometric bank cards'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-rise-of-biometric-bank-cards\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/01\/the-rise-of-biometric-bank-cards-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12123\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12123'>\n\t\t\t\tThe rise of biometric bank cards\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Kenyan FinTech startup launches financial education academy'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/kenyan-fintech-startup-launches-financial-education-academy\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/03\/kenyan-fintech-startup-launches-financial-education-academy-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12469\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12469'>\n\t\t\t\tKenyan FinTech startup launches financial education academy\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Challenger banks have gained traction over the past few years by developing streamlined, digital-first retail banking services such as checking and savings accounts, loans, insurance and credit cards. Challenger banks, which rely on mobile and desktop platforms as their main \u2018branches\u2019, first made inroads by developing different business models that charged customers transparent low fees, &hellip;<\/p>\n","protected":false},"author":12,"featured_media":16089,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16088"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=16088"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16088\/revisions"}],"predecessor-version":[{"id":16091,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16088\/revisions\/16091"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/16089"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=16088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=16088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=16088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}