US-based challenger banks are entering a new phase in their bid to be the consumer banks of the future. We look at the trends driving the space forward and what financial institutions need to know.
Funding to US-based challenger banks in 2021 has already surpassed last year’s record-breaking year-end total, reflecting a broader shift in their battle with incumbents.
Armed with newly fortified balance sheets and riding a wave of digital-first momentum kicked off by the pandemic, many leading challenger banks are expanding their product suites to more closely mirror traditional banks.
