Challenger banks in the UK - statistics & facts
Technological developments have disrupted the banking industry, and the quick adoption of financial technology has become a key competitive advantage for banks worldwide. More and more customers have started looking for online and mobile solutions to conduct operations remotely and save the time needed to visit banks’ physical branches, and challenger banks proved more ready than others in embracing the digital transition. Challenger banks, whose number has grown steadily over the last years, are recently founded companies that compete with well-established and prominent corporations leveraging technology to streamline their operations.
Key insights
- Largest challenger bank by total assets
- Virgin Money
Detailed statistics
Total assets of challenger banks in the UK 2020, by bank
- Total customers of Virgin Money
- 6.6m
Detailed statistics
Key figures and ratios for Virgin Money UK PLC 2018-2023
- Total assets of TSB
- 49.45bn GBP
Detailed statistics
Key financial figures for TSB Bank 2018-2023
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