Gig-economy workers and the self-employed face unique financial difficulties, from building a credit score to finding flexible insurance. But how are a growing number of financial technology solutions – delivered by big banks and challengers alike – serving the needs of a growing demographic?

Berlin-based digital bank N26 may not have any branches, but it’s still connecting with consumers across the world. It has attracted tech-savvy Gen Zers and Yers – along with other neobanks – with one-touch money management using smartphone-friendly features and economical borderless banking.

From the financial sector to mainstream media to the political landscape, a growing number of people are rejecting traditional institutions for more modern alternatives. When it comes to digital challenger banks in the UK, people are gravitating to them for their convenience and modernity.

Digital banking is on the rise, especially as social distancing has left people little choice but to bank online. But despite the seamlessness of online banking, young people – more than older cohorts – prefer a hybrid approach, with a blend of AI-powered tools and in-person advice.