Post By Simon Montford on Sept 27, 2018
When I attended Digit’s FinTech event held in Edinburgh last week – another impeccably run conference – one of the main, consistent themes was the rise of challenger banks. What became obvious from the talks I listened to and the conversations I had with delegates was that a classic David and Goliath scenario is starting to play out. Not only are plucky fintech startups like Atom, Monzo and Revolut enticing affluent young customers away from traditional banks, but they are also managing to convert them into fiercely loyal advocates. This is an extraordinary feat when you consider how much is spent by incumbents on advertising and marketing.
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