Updated: May 13, 2022
We enjoyed the recent report by N26 in partnership with Accenture on customer views on digital-banking. Perhaps surprising to some may be that the main reasons to not move from a traditional bank to a digital bank is lack of familiarity with the digital product, or general satisfaction with one’s current bank. This bodes well for the digital banks of the world, as trust does not seem to be a significant barrier. Digital banks and FinTechs alike must continue to make strong communications and marketing efforts to educate consumers about their services.