| Challenger banks have positively disrupted legacy banking by resolving fundamental financial challenges faced by people, providing a user experience compatible with popular social apps, and ensuring superior customer service. The spike in digital adoption caused by the COVID-19 pandemic has further accelerated the growth of challenger banks. WeBank, Nubank, Chime, N26, and Revolut are some of the largest challenger banks with millions of users. Research by Exton Consulting states that there are over 250 challenger banks worldwide. |
