Are Digital Banks Struggling to Get Traction?

A recent article in Forbes shared a survey of US consumers that shed light on the traction of digital banks in the United States; the survey discovered that consumers aren’t flocking to digital banks as fast as many expected; only 3% of millennials have their primary checking account at a digital bank such as Chime, Simple or Moven; Peter Renton, co-founder of LendIt Fintech digs further into the data and his thoughts on what’s happening in the digital banking space. Source

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