Christophe Langlois “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)
