[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"site-settings":3,"blogpost-what-is-a-challenger-bank":72},{"footer":4,"contact_form":6,"chat_widget":11,"accolades":19,"seo_social":63},{"iso_notice":5},"Wolfpack Digital is an ISO 9001:2015, ISO 27001:2013 and ISO 14001:2015 certified company - © _YEAR_ Wolfpack Digital. All rights reserved.",{"budgets":7},[8,9,10],"Under $50.000","Between $50.000 - 200.000","Over $200.000",{"consent":12},{"greeting":13,"title":14,"body":15,"accept_label":16,"decline_label":17,"declined_message":18},"Awoo! I'm Wolfpack Digital's AI assistant. Ask me anything about our services, process, or team, and if you want a project estimate, I can point you to our AI Estimator.","Data Privacy","\u003Cp>Hi there! We would love to talk with you. Under the EU General Data Protection Regulation, we need your approval for our use of personal information (e.g. your name and email address) you may provide as we communicate:\u003C\u002Fp>\n\u003Col>\n  \u003Cli>We'll store your personal information so that we can pick up the conversation if we talk later.\u003C\u002Fli>\n  \u003Cli>We may send you emails to follow up on our discussion here.\u003C\u002Fli>\n  \u003Cli>We may send you emails about our upcoming services and promotions.\u003C\u002Fli>\n\u003C\u002Fol>\n\u003Cp>Is this okay with you?\u003C\u002Fp>","Yes, I Accept","No, Not Now","No problem. Come back if you change your mind.",{"winnersOfList":20,"awardsList":29,"inHouseAppImages":46,"certificationsList":50},[21,25],{"alt":22,"href":23,"image":24},"European Awards","https:\u002F\u002Fwww.theeuropeanawards.eu\u002Fpremiado\u002Fwolfpack-digital-awarded-in-the-app-development-category","\u002Fimages\u002Fabout-us\u002Fwinners\u002Feuropean.svg",{"alt":26,"href":27,"image":28},"Webby Awards","https:\u002F\u002Fwinners.webbyawards.com\u002F2024\u002Fwebsites-and-mobile-sites\u002Fresponsible-technology\u002Fresponsible-ai\u002F275408\u002Fequality-ai-fair-and-unbiased-algorithms-to-eliminate-discrimination-in-machine-learning-models","\u002Fimages\u002Fabout-us\u002Fwinners\u002Fwebby.svg",[30,34,38,42],{"alt":31,"href":32,"image":33},"Clutch 1000 List Reveals Top-Rated Business Service Providers of 2023","https:\u002F\u002Fclutch.co\u002Fpress-releases\u002Fclutch-1000-fall-2023","\u002Fimages\u002Fabout-us\u002Fawards\u002Fclutch.svg",{"alt":35,"href":36,"image":37},"Clutch Recognizes the 1000 Best B2B Service Providers in its Exclusive 2019 Clutch 1000 List","https:\u002F\u002Fclutch.co\u002Fpress-releases\u002Frecognizes-1000-best-b2b-service-providers-its-exclusive-2019-1000-list","\u002Fimages\u002Fabout-us\u002Fawards\u002Fglobal.svg",{"alt":39,"href":40,"image":41},"Mobile App Daily Award","","\u002Fimages\u002Fabout-us\u002Fawards\u002Fmobile-app-daily.svg",{"alt":43,"href":44,"image":45},"Manifest Award","https:\u002F\u002Fthemanifest.com\u002Fro\u002Fweb-development\u002Fcompanies","\u002Fimages\u002Fabout-us\u002Fawards\u002Fmanifest.svg",[47],{"alt":48,"href":40,"image":49},"Wolfpack Labs","\u002Fimages\u002Fhomepage\u002Fawards\u002Flabs.svg",[51,55,59],{"alt":52,"href":53,"image":54},"ISO 27001 Certification","https:\u002F\u002Fwww.qscert.com\u002Fcs\u002Fissued-certificates\u002F?certID=_7690LD367","\u002Fimages\u002Fabout-us\u002Fcertifications\u002Fiso-27001.svg",{"alt":56,"href":57,"image":58},"ISO 9001 Certification","https:\u002F\u002Fwww.qscert.com\u002Fcs\u002Fissued-certificates\u002F?certID=_7690LBDB0","\u002Fimages\u002Fabout-us\u002Fcertifications\u002Fiso-9001.svg",{"alt":60,"href":61,"image":62},"ISO 14001 Certification","https:\u002F\u002Fwww.qscert.com\u002Fma\u002Fissued-certificates\u002F?certID=_7690LZSGS","\u002Fimages\u002Fabout-us\u002Fcertifications\u002Fiso-14001.svg",{"default_og_image_urls":64,"default_og_image_alt":68,"og_site_name":68,"og_locale":69,"twitter_site":70,"page_type_defaults":71},[65],{"url":66,"style":67},"\u002Fimages\u002Fsocial_share_preview.jpg","og","Wolfpack Digital","en_US","@DigitalWolfpack",{},["Reactive",73],{"title":74,"body":75,"slug":76,"featured_image_urls":77,"meta_tags":102,"reading_time":109,"title_size":110,"tag_list":111,"formatted_published_at":115,"short_description":103,"categories":116,"alt_text":117,"published_at":118,"content_updated_at":117,"formatted_content_updated_at":117,"key_takeaways":119,"faqs":120,"updated_at":121,"canonical_override":117,"no_index":122,"canonical_url":123,"publishers":124},"What is a challenger bank?","\u003Cp>\u003Cmeta charset=\"utf-8\">\u003C\u002Fp>\r\n\r\n\u003Ch4>A challenger bank is a retail bank that is smaller and newer than a traditional and long-established bank.\u003Cbr>\r\nThey are usually founded after the 2008 global financial crisis and bridge the gap between the customers' needs and the neglected verticals by the mainstream banks due to their old systems, mindset, and market dominance.\u003C\u002Fh4>\r\n\r\n\u003Cp>\u003Cbr>\r\nChallenger banks build their systems from scratch, which allows them to create agile processes, adapt to the market fast, meet the customers' needs through friendly experiences and needed features, and provide stunning customer experience, more flexibility, and better deals. \u003C\u002Fp>\r\n\r\n\u003Cp> \u003C\u002Fp>\r\n\r\n\u003Ch2>\u003Cstrong>Challenger banks Pros and Cons \u003C\u002Fstrong>\u003C\u002Fh2>\r\n\r\n\u003Ch3>\u003Cstrong>challenger banks advantages \u003C\u002Fstrong>\u003C\u002Fh3>\r\n\r\n\u003Cul>\r\n\t\u003Cli>online-only operations \u003C\u002Fli>\r\n\t\u003Cli>simple and straightforward User Experience \u003C\u002Fli>\r\n\t\u003Cli>digitalized beaurocracy \u003C\u002Fli>\r\n\t\u003Cli>fast setup and\u002For processing, no matter the action you take\u003C\u002Fli>\r\n\t\u003Cli>lower commissions and better conversion rates for currency exchanges \u003C\u002Fli>\r\n\t\u003Cli>specialize in the customer's main needs: day-to-day banking, traveling, saving money, etc.\u003C\u002Fli>\r\n\t\u003Cli>financial well-being options: accessible trading stocks options, cryptocurrency trading, insurances, etc. \u003C\u002Fli>\r\n\t\u003Cli>transparency\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\r\n\u003Ch3>\u003Cstrong>challenger banks disadvantage \u003C\u002Fstrong>\u003C\u002Fh3>\r\n\r\n\u003Cul>\r\n\t\u003Cli>no physical branches: so if you want to go to the bank and have a meeting in person, this might not be an option for you\u003C\u002Fli>\r\n\t\u003Cli>niche banking services: while a bank would offer you credit cards, mortgage, saving account, loans, etc., challenger banks specialize in just a few services. Make sure you select your challenger bank based on your needs.\u003C\u002Fli>\r\n\t\u003Cli>ATM withdrawals restrictions; you may have some limits per day regarding the amount of cash you can withdraw, so if you are a cash person, there is no bank to go into and withdraw more than your card limits.\u003C\u002Fli>\r\n\t\u003Cli>not all challenger banks provide business accounts or services - and you may need them if you want to pay your employees via a challenger bank.\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\r\n\u003Ch2>\u003Cstrong>Why do challenger banks offer better deals and why are they named as \u003Cem>challenged?\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fh2>\r\n\r\n\u003Cp>Challenger banks are small fintech companies that literally “challenged” the Big Four UK banks (Barclay’s, Lloyd’s, HSBC, and RBS) by providing smart banking solutions through emerging digital solutions.\u003C\u002Fp>\r\n\r\n\u003Cp> \u003C\u002Fp>\r\n\r\n\u003Cp>There are multiple reasons you get those great deals, but to put it simply, they are mainly digitalized and automated, and there is no need for physical branches either, which allows them to save money and offer better deals for their customers.\u003C\u002Fp>\r\n\r\n\u003Cp>On the other hand, traditional banks started to invest in innovation and digitalization more and more in the past years, which proves that competition leads to better deals and a higher focus on customer service.\u003C\u002Fp>\r\n\r\n\u003Ch2>\u003Cstrong>Top 3 challenger banks we like and recommend\u003C\u002Fstrong>\u003C\u002Fh2>\r\n\r\n\u003Cp>There is no one go-to bank we recommend, but there are a few we really like: \u003C\u002Fp>\r\n\r\n\u003Cul>\r\n\t\u003Cli>\n\u003Ca href=\"https:\u002F\u002Fikigai.money\u002F\" target=\"_blank\">Ikigai\u003C\u002Fa> for the way they combine digital banking with wealth management, especially for everyone in their late twenties or thirties who\u003Cem> have aspirations and goals — and they want to do more with their money, \u003C\u002Fem>to quote Edgar, the co-founder of Ikigai.\u003Cbr>\r\n\t\u003Cstrong>You may call us biased because we were the app development company building this \u003Ca href=\"https:\u002F\u002Fwww.wolfpack-digital.com\u002Fprojects\u002Fikigai\" target=\"_blank\">fintech app,\u003C\u002Fa> but \u003Ca href=\"https:\u002F\u002Ftechcrunch.com\u002F2021\u002F03\u002F16\u002Fikigai\u002F\" target=\"_blank\">TechCrunch\u003C\u002Fa> and \u003Ca href=\"https:\u002F\u002Fthefintechtimes.com\u002Fikigai-launches-in-the-uk-combining-digital-banking-and-wealth-management\u002F\" target=\"_blank\">Fintech Times\u003C\u002Fa> were not biased for sure.\u003C\u002Fstrong>\n\u003C\u002Fli>\r\n\t\u003Cli>\n\u003Ca href=\"https:\u002F\u002Fwww.revolut.com\" target=\"_blank\">Revolut\u003C\u002Fa> for the easy way we can split the bill for our meal lunch at work, day-to-day banking actions, and traveling \u003C\u002Fli>\r\n\t\u003Cli>\n\u003Ca href=\"https:\u002F\u002Fn26.com\u002Fen-eu\" target=\"_blank\">N26\u003C\u002Fa> for the way they handle expenses' tracking, setting aside money in real-time, and for being the only German bank that operates 100% in English.\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\r\n\u003Ch2>\u003Cstrong>Fintech news and insights to read\u003C\u002Fstrong>\u003C\u002Fh2>\r\n\r\n\u003Cp>We covered everything about challenger banks, neobanks, and fintech products in our whitepaper: \u003Cstrong>\u003Ca href=\"https:\u002F\u002Fwww.wolfpack-digital.com\u002Fblogposts\u002Fdesigning-and-building-fintech-mobile-apps\" target=\"_blank\">Designing & Building Fintech Mobile Apps_\u003C\u002Fa>\u003C\u002Fstrong> in a COVID-19 World.\u003C\u002Fp>\r\n\r\n\u003Cp> Additionally, we have a bunch of other posts you could browse through: \u003C\u002Fp>\r\n\r\n\u003Cul>\r\n\t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwolfpack-digital.us19.list-manage.com\u002Ftrack\u002Fclick?u=312c4893a4f1981b6477b5681&id=6aa1c14e9d&e=8216a3c3a5\" target=\"_blank\">The current context in Fintech | Mobile Banking & Digital Financial Services transformation\u003C\u002Fa>\u003C\u002Fli>\r\n\t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.wolfpack-digital.com\u002Fblogposts\u002Fcoronavirus-impact-fintech-trends-2020\" target=\"_blank\">The impact of Coronavirus on the Fintech Trends in 2020\u003C\u002Fa>\u003C\u002Fli>\r\n\t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.wolfpack-digital.com\u002Fblogposts\u002Fgreat-time-for-fintech\" target=\"_blank\">10 Reasons Why It’s a Great Time for Fintech\u003C\u002Fa>\u003C\u002Fli>\r\n\t\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.wolfpack-digital.com\u002Fblogposts\u002Ftop_fintech_apps_by_wolfpackdigital\" target=\"_blank\">Top Fintech Apps built by Wolfpack Digital\u003C\u002Fa>\u003C\u002Fli>\r\n\t\u003Cli>\u003Ca href=\"https:\u002F\u002Ffinance.yahoo.com\u002Fnews\u002Fwolfpack-digital-review-five-fintech-090000601.html?\" target=\"_blank\">Wolfpack Digital Review Five Fintech Trends Emerging in 2020\u003C\u002Fa>\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\r\n\u003Cp> \u003C\u002Fp>\r\n\r\n\u003Ch4>If you are interested in learning more about building your fintech app or challenger bank, drop us a line and we might be the ones to help you. Our team has entrepreneurial and startup background, which makes us focus on the product, go-to-market strategies, data-driven decisions, and everything needed to please customers and their apps' users. \u003C\u002Fh4>\r\n\r\n\u003Ch4> \u003C\u002Fh4>\r\n","what-is-a-challenger-bank",[78,81,84,87,90,93,96,99],{"style":79,"url":80},"640","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F640\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":82,"url":83},"768","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F768\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":85,"url":86},"1024","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F1024\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":88,"url":89},"1366","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F1366\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":91,"url":92},"1600","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F1600\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":94,"url":95},"1920","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002F1920\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":97,"url":98},"thumb","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002Fthumb\u002Fimage_processing20220615-4-1v5ucba.webp",{"style":100,"url":101},"original","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fblogpost\u002F99\u002Ffeatured_image\u002Foriginal\u002Fimage_processing20220615-4-1v5ucba.webp",{"title":74,"description":103,"keywords":104,"contact_form:title":105,"contact_form:cta":106,"og:site_name":68,"og:type":107,"og:locale":69,"twitter:card":108,"twitter:site":70,"twitter:creator":70,"og:title":74,"twitter:title":74},"What is a challenger bank and what are the pros and cons of using a challenger bank compared to a traditional and long-established bank?","what is a challenger bank, challenger bank development, neobank app development, fintech app development, banking app development, wolfpack digital app development, mobile app development company, trusted mobile app development company","contact us","send message","article","summary_large_image","3 min",32,[112,113,114],"fintech","banking","neobanking","Apr 16, 2021",[112],null,"2021-04-16T13:48:57.816Z",[],[],"2022-06-16T09:02:02.054Z",false,"https:\u002F\u002Fwd-fe-stage.herokuapp.com\u002Fblogposts\u002Fwhat-is-a-challenger-bank",[125],{"id":126,"author":127,"short_description":128,"role":129,"avatar_urls":130,"cover_urls":117,"linkedin_link":117,"instagram_link":117,"x_link":117,"meta_tags":138,"last_published_at":140,"same_as":141},7,"Corina ","Coffee fueled Marketing Strategist for tech products","Chief Marketing Officer",[131,133,136],{"style":97,"url":132},"https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fpublisher\u002F7\u002Favatar\u002Fthumb\u002Fcorina_stirbu-CMO-wolfpack-digital.webp",{"style":134,"url":135},"medium","https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fpublisher\u002F7\u002Favatar\u002Fmedium\u002Fcorina_stirbu-CMO-wolfpack-digital.webp",{"style":100,"url":137},"https:\u002F\u002Fwolfpack-digital-attachments-staging.s3.eu-west-2.amazonaws.com\u002Fstore\u002Fpublisher\u002F7\u002Favatar\u002Foriginal\u002Fcorina_stirbu-CMO-wolfpack-digital.webp",{"title":40,"description":40,"keywords":40,"contact_form:title":105,"contact_form:cta":106,"og:site_name":68,"og:type":139,"og:locale":69,"twitter:card":108,"twitter:site":70,"twitter:creator":70},"website","2021-11-23T06:45:59.000Z",[]]