European Digital Banks Struggle to Gain Market Share in US

New research from Apptopia shows that the leading digital banks in Europe are off to a slow start in the US; while the offerings haven’t been available for a long time they face intense competition from companies like Chime which holds 60% of the US challenger bank market; N26 currently has 3.55% of the digital banking market in the US due to their launch in September 2019 and a large marketing campaign; Revolut launched in March and has 0.97% market share while Monzo has 0.23% which includes their waitlist and their beta launch; Sifted shares an interesting pie chart which details the competitive landscape with other leaders in the US such as Varo, Current and MoneyLion. Sifted

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