Originally published: eMarketer, 25 February 2020
The banking industry is becoming more complex with the rise of mobile and open banking, increased demand for real-time interaction and personalized services, as well as new regulations. A need for better experiences across channels has also resulted in unprecedented competition among banks and financial services firms.
An August 2019 Finder.com survey conducted by Pureprofile states that 21.4% of US internet users ages 18 to 91 already used neobanks. About 57% of the same respondents said they believe that digital banking is more convenient than brick-and-mortars, and 8.8% of the respondents intended to open a digital-only bank account in the coming months.
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