The Business Times
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Lessons from Britain's digital banking experience

UK experience with digital banks suggests consumer expectations will change, even if incumbents maintain an edge

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Joan Ng

Joan Ng

Published Wed, Oct 2, 2019 · 09:50 PM

    London

    JOSH Longhurst has a savings account with the British bank Nationwide Building Society that pays him 5 per cent per annum on up to £2,500 (S$4,250) of his balance.

    In comparison, the money he has stashed with digital bank Monzo will earn at most 1.7 per cent a year - possibly even less.

    Digital banking

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