Monzo blamed as big banks take £1.6bn brand hit (12/14)

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Submitted to "Fintech News Daily 2019: 08 – 15 September (Open list) (14 submissions)"

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by Christophe Langlois Sep 15, 2019, 10:38 am

“Buzzy challenger banks such as Monzo, Revolut, and Starling have been blamed for tarnishing the brands of traditional high street lenders, who have lost a collective $2bn (£1.6bn) in brand value over the last 12 months. The brands of eight of the UK’s biggest banks declined by an average of 7% during the last year, according to market research organisation Kantar. It means top lenders — including HSBC, Barclays, Lloyds Bank, and RBS — have lost a collective $2bn of notional brand value. Kantar said the decline was due to challenger brands like Monzo showing up traditional lenders.”

Source: Yahoo Finance UK (via Spiros Margaris)

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Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on VisibleBanking.com are his own.