Particularly in Europe, challenger banks have exploded onto the scene with their dedication to  customer experience, challenging the incumbents to revamp their offerings. However, W.UP – who help banks turn their vast data sets into better banking experiences with the aid of AI – have turned the tables and dissected what the challengers can learn from the incumbents…

The recent years have seen an influx of investment towards these challenger banks, and as the movement matures they must learn to better commercialize their offerings and return the profits that their potential has promised. W.UP discuss how the challengers must learn to start cementing their market share and work on customer retention. Their insights also encourage greater partnership in the sector, even between each other, and harnessing the power of emotions which the incumbents have excelled at for years: such as building and assuaging consumer fear and catering financial services around major life events.