Financial Technology and Challenger Banks in the UK: Gap Fillers or Real Challengers?
Journal of International Banking Law and Regulation (2017), Vol. 32(7), pp. 273-282.
10 Pages Posted: 17 Aug 2017
Date Written: June 1, 2017
Discusses how the development of innovative financial technology (Fintech) is giving rise to new "challenger banks" entering the UK market. Examines the business models of two digital challenger banks, Aldermore Bank and Shawbrook Bank, and the mobile-based Atom Bank. Suggests why challenger banks have proved popular with investors. Assesses how they are regulated in the UK and identifies some regulatory concerns.
Keywords: Fintech, Banks, financial regulation, mobile payment
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