Here’s a link to an interesting report from KPMG which looks at why challenger banks really are challenging the Big Five.
Its report, ‘A new landscape’ analyses the financial results of the challenger banks, in relation to the big five UK banks: Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander. It pinpoints new players and delves into the key trends underpinning the success of the fast-moving challenger bank and fintech sector.
The report includes:
- An overview of app-only challenger banks – what the report calls ‘digitally focused challengers’
- Exclusive interviews with Atom, Starling and Fidor Bank
- An assessment of recent regulatory and tax changes to the buy-to-let market and the potential impact this could have on challengers banks’ profitability going forward.
- A look at the savings rates offered by challenger banks versus those at the big five.