Neobanks Test Gen Z Approaches Against Traditional Banks to Capture Important Market Share
They make up 40% of global consumers, and by 2030, they’re projected to represent 31% of the workforce. Their current purchasing power is around $450 billion, which is expected to soar to $12 trillion in just five years. This digitally savvy generation seems to favor fintech platforms over traditional banks. A recent survey from PYMNTS […]
Big Banks Joust With Neobanks for Lower-Income Consumer Accounts – PYMNTS.com
There are commonalities in financial services, although the approaches may be different for brick-and-mortar players and some fintech companies. That means meeting the needs of low-income households. Big banks are losing at least some market share to neobanks, fintechs that have been able to carve out a niche serving households with annual incomes of about […]