In this report SALT analyses the emergence of challenger banks since 2010, their continued evolution, and where they set to stand in the online market in 2017.
Why this is a must read
There’s no doubt that finance is one of the hardest markets in the world, and no more so when a newly licenced bank is starting out.
This paper outlines what the established and larger challengers are focussing on to compete in the SERPs (Search Engine Result Pages), and where new challengers need to plan their strategy in 2017.
- Challenger banks are beginning to fill the trust void left by major banks, both in personal and business banking.
- Over the past two years challenger banks have been outperforming major banks on a number of levels.
- Challenger banks are increasingly present in the digital market while major banks suffer with outdated security and IT systems.
- There shall be three main markets for challengers in 2017 that will help embed their positions in the financial market.
- Although challengers perform better in the digital world, they have not yet conquered the SERPs and many important areas remain largely untapped.