We have been featured in the Fintech Times – UKs leading Fintech publication.
Our own Jerry Young discusses whether the maths ‘add-up’ for smaller UK financial institutions that have spent time and money investing toward their online offering.
We all know that technology has enabled people to increasingly conduct their financial affairs online, be it through apps on their smartphones or tablets, or simply using a personal computer to “log on”. The days of braving a windswept high street to open a current account or having to write yourself a cheque to transfer money between accounts have long gone.
Indeed, a survey by finder.com reveals over a quarter (27%) of British adults have opened an account with a digital-only bank, equating to 14 million people (2021). This is an increase of three times compared to just January 2019 (9%). By the end 2021, 38% of the UK will have or intend to have a digital-only bank – almost 20 million people.
We all know the big banking names on the UK high street have invested heavily in digital channels over the past few years, which has enabled people to continue managing their finances despite branch closures.
Read the full story over at the Fintech Times.