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Neobanks have Not Yet Gained Trust of Most Consumers, but Monzo and Starling Lead in Service Quality: Survey
January 19, 2021 @ 8:14 pm By Omar Faridi
Although neo banks or digital banking platforms have been gaining significant market share during the past few years, consumers still appear to be somewhat hesitant when working with these new providers as their primary accounts, according to recent research by
Accenture.
The 2020
Accenture Global Banking Consumer Survey, which obtained feedback from over 47,000 consumers from 28 different markets, revealed that there was an increase in neobank adoption (23% of survey respondents in 2020 maintaining a neobank account, compared to only 17% back in 2019). However, the number or percentage of people that actually use their neobanking accounts as their main account remains quite low at just 12%.