Monzo and challenger banks

[247trader]

A post by @trendfollower made me think of an article I read this week where Monzo have partnered up with transferwise to offer international payments! 

I think Monzo is great. They’re getting take over bids all the time, have a growing team, and really it’s what millennials want. 

Many others out there feel the same? Revolut maybe? Are they a serious contender to take on the big boys? 

https://monzo.com/blog/2018/06/25/monzo-international-transfers/

[Guest PandaFace]

54 minutes ago, TrendFollower said:

I think Revolut is going to attract the new and younger generation for sure. I am not so sure that it will be a serious contender to take on the big banks anytime soon. The question is will the big banks adapt to change effectively and amend their business model and strategy to cater for the new generation and technological revolution we are witnessing.

They’re far to big and clunky for that. More likely to just buy the little ones up where possible. 

Altho there are probably laws about that but I wonder if these newbies are small enough to sneak through the regulatory net?