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

More in Banking

50% of consumers reassessing banking needs since Covid – EPAM report  
Banking
September 21, 2020

50% of consumers reassessing banking needs since Covid – EPAM report  

EPAM has released its 2020 consumer banking report which examines neobank adoption. &...

Raisin partners with Finect  
Banking
September 15, 2020

Raisin partners with Finect  

Savings marketplace Raisin has partnered with financial resource platform Finect.  ...

Singapore FinTech launched digital bank in India
Banking
September 01, 2020

Singapore FinTech launched digital bank in India

Singaporean FinTech company Atlantis has launched a challenger bank in India. In Brief:...

Banking
July 29, 2020

The Future Challenges Of Banking

Less risk, more access Following the global financial crisis in 2008, the face and landscape of t...

Banking
April 14, 2020

UK International Reserves - March 2020

The Bank of England manages the UK’s official reserves on behalf of the Government. We publish...

Banking
April 14, 2020

Appeal of online investing

Whether you’re cautious or risk hungry, NatWest Invest thinks it has a fund for you. Since...

There are no Events in this category