Challenger Bank

The term challenger bank refers to newly-founded banks which compete with or “challenge” existing banks.

The term is often used synonymously with the terms neobank and smartphone bank.

Challenger banks typically attract customers with low banking fees and user-friendly apps. Some have already been so successful that they pose a major challenge to established banks.  

More on this topic:
Neobanks in Switzerland: Guide and comparison

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Expert Benjamin Manz
Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.