Apex Group: Are Challenger Banks Forgetting Corporate Customers? | The

I agree

Make something like Handlesbanken and focus on customer relationship and there’s a real market for businesses

Pair it with a private banking section for your clients that do make it, allowing them to move their businesses to that branch too and suddenly you’ve got a very very attractive banking operation

To be honest I think it will be difficult to convince current corporations to move their banking over to a neobank - especially big corporations. They’ll all already have their processes set up around the current banking arrangements and it is difficult to get a corporation to change anything unless there are massive benefits. I imagine changing banking arrangements would be seen as a high-risk manoeuvre so the benefits need to be greater than a nice app/web interface that most in the org will never see.

I suspect the way in to the corporate space will be to try and follow the path that some are doing - target SMEs. Eventually some will become corporations and they can evolve their banking product as that happens.