The conditions that came together to incubate the neobank movement are giving way. A new world order is coaxing the challengers to evolve, and they increasing look like, well, banks — but with different attitudes. Growth consultancy Simon-Kucher believes that some neobanks will take their place at the top of national financial services industries. Others, unfortunately, may simply be absorbed into traditional providers’ transformation strategies.
The neobank age has given traditional banking institutions a good competitive shake up, and delivered some harsh lessons about customer experience.
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