N26 leads European assault on US Challenger bank market

November 04, 2019 | Banking

Written by FinTech Alliance

N26 leads European assault on US Challenger bank market

Revolut and Monzo also looking to make inroads

In Brief:

  • German digital bank N26 had nearly 50,000 downloads for the month of September.
  • US-based Chime leads the market with 740,000 downloads
  • Monzo faring better in UK where it now accounts for more than 50% of the challenger banking monthly active users.

What does this mean?

The new stats from data and insights consultancy Apptopia point to continued growth and competition on both sides of the Atlantic including the hyper growth of Brazilian upstart Nubank. Worldwide quarterly downloads of the top digital banking apps have grown 209% over the past six quarters. 

Read more here

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