Fintech Insider Podcast by 11:FS
939. News: Chase overtakes Monzo and why falling fintech investment might actually be good news
Feb 24, 2025
In this engaging discussion, Daniel Rose, CEO of Doshi, shares insights on gamified financial education for youth, while Daniel Lanyon, Co-founder of Tramlines, provides updates on trends as Chase overtakes Monzo in popularity. Ruth Foxe Blader from Foxe Capital dives into the decline of fintech investment, emphasizing that it might signal a necessary market correction. The trio explores how partnerships can enhance financial literacy and the importance of innovation in addressing the needs of underserved markets, especially in places like Ethiopia.
55:23
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Quick takeaways
- Chase UK's rise as the most popular bank signals a shift towards neobanks that emphasize simplicity and customer rewards.
- Lloyds Bank's partnership with Doshi highlights the growing emphasis on gamified financial education to engage younger audiences effectively.
Deep dives
Chase UK Outranks Monzo
Chase UK has emerged as Britain's most popular bank, surpassing Monzo in a recent survey with 81% customer recommendations compared to Monzo's 80%. This shift is particularly notable as Chase only entered the UK market in 2021 and has quickly gained traction among customers. The appeal of Chase appears to be driven by its straightforward features and attractive rewards program, notably offering 1% cashback, which is appealing during the cost of living crisis. Meanwhile, traditional banks like Royal Bank of Scotland lag significantly behind, suggesting a customer shift towards neobanks that prioritize simplicity and usability.
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