What is a challenger bank?

A challenger bank is one that’s smaller and newer than a traditional bank. By newer, we mean that most challenger banks were founded after 2009 – so after the 2008 global financial crisis – and the vast majority were established after 2014. Their plan is to compete with big banks such as HSBC, Lloyds, Barclays and NatWest.

What are the different types of challenger banks?

There are several different types of challenger banks, including: Mature challenger banks: As the name suggests, these are digital banks that have been in the mainstream for a while and have gained a reputation. Examples of mature challenger banks include Starling Bank, Monzo, and Revolut.

What are digital challengers aiming to shake up the banking sector?

Find out how the new wave of digital challengers such as Monzo, Starling and Revolut are aiming to shake up the banking sector What is a challenger bank or mobile bank? How safe are e-money firms? What is a challenger bank or mobile bank?