CEO spotlight: Sizing up the real threat of challenger banks

Does the onslaught of challenger banks on the UK banking scene spell disaster for incumbents? Or is it just a lot of hype? One thing is certain, banks can’t afford to lose the SME and self-employed segments if they want to survive.

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Corey Gross discusses “Reimagining Banking’s Role in a Micro-Enterprise Economy” in webinar with RBS

In 10 years, self-employment is expected to outpace salaried work, meaning that most individuals will behave like business owners. In the UK alone, sole proprietorships and micro-enterprises make up 96% of businesses. European banks could open up billions in new revenue streams by 2028 if they reimagine their roles from financial services providers to business partners.

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