{"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='(Video) What in the World Are NFTs?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-what-in-the-world-are-nfts\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/04\/What-are-NFTs-CNBC-Explains-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15956\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15956'>\n\t\t\t\t(Video) What in the World Are NFTs?\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Smart POS Terminal Usage to Increase Over the Next 5 Years'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/smart-pos-terminal-usage-to-increase-over-the-next-5-years\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/07\/489a7938-2b6e-e888-7eaf-172451e8c4c91-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16175\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16175'>\n\t\t\t\tSmart POS Terminal Usage to Increase Over the Next 5 Years\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor 29th May \u2013 5th June'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-29th-may-5th-june\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/06\/Untitled-1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15005\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15005'>\n\t\t\t\tBFC FinTech Monitor 29th May \u2013 5th June\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}]}}