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  • What’s stopping people from leaving traditional banks?
  • What’s stopping people from leaving traditional banks?
    Robert Bye (2017) ©
REPORT

2020 Expert Outlook on Money

Are people growing bored of fintech services? How is an abundance of banking choices hindering decisions? And what money taboos are people desperate to break? In this chapter of the 2020 Expert Outlook, we speak to three experts about people’s desire for ease and openness in finance.

Location Global

Scope
The 2010s saw numerous digital platforms emerge with the aim of challenging the dominance of traditional banking institutions. With beautiful and intuitive interfaces, online-only banks such as Monzo and Revolut offered an entirely new kind of money management experience that allowed people to track their spending and saving in real-time, with round-the-clock support and seamless transfers adding to an already attractive proposition. Gohenry has even extended such services to Gen Alphas and Zers, helping to build financial literacy from a younger age.

Yet despite the wealth of digital services available, people are often ...

Canvas8

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