7 ms·
Without being an expert on the topic I'm going hazard a guess that it's due to regulatory moats that keep challengers out of the arena, and banks endlessly lobb
by Quindecillion 2y ago
Without being an expert on the topic I'm going hazard a guess that it's due to regulatory moats that keep challengers out of the arena, and banks endlessly lobby to maintain that regulatory capture.
- spacebanana7 2y agoIn the UK there's no significant regulatory advantage to big banks outside of the mortgage market, yet the same dynamics occur. The biggest issue for new digital banks is customer acquisition cost. Most consumers won't change bank accounts unless you spend hundreds of pounds on adverts and incentives.