Neo- and challenger banks have become more and more popular in recent years, attracting an increasing number of customers particularly among younger generations. Traditional banks and financial institutions also started to acknowledge the potential of these new players in the financial sector. According to a yearly survey carried out between 2020 and 2023 among executives at banks and credit unions in the United States, the share of respondents who saw neo- and challenger banks as a competitive threat for traditional banking increased steadily between 2020 and 2022, from 14 percent to 33 percent. However, as of 2023, the share of executives who saw challenger banks as a threat fell back to 21 percent.
Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023
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Users
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Leading players
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Cornerstone Advisors. (January 17, 2023). Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 [Graph]. In Statista. Retrieved December 03, 2023, from https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. "Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023." Chart. January 17, 2023. Statista. Accessed December 03, 2023. https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. (2023). Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023. Statista. Statista Inc.. Accessed: December 03, 2023. https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. "Share of Bank and Credit Union Executives Who See Challenger Banks as a Significant Threat in The Coming Decades in The United States from 2020 and 2023." Statista, Statista Inc., 17 Jan 2023, https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors, Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 Statista, https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/ (last visited December 03, 2023)
Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 [Graph], Cornerstone Advisors, January 17, 2023. [Online]. Available: https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/