Technology has completely transformed the way we bank. Consumers and businesses are demanding immediate transactions on the move and the use of mobile banking apps is sky-rocketing.
In recent months, we’ve seen a rapid shift towards a new breed of digital-only banks such as Monzo and Tandem, which are meeting expectations for real-time payments, detailed insights on spending and fast customer service. They are forcing traditional banking providers to rapidly pick up the pace of digital transformation and overhaul their customer offers.