Small Business Banking - UK - September 2018

Small Business Banking - UK - September 2018

“Switching is rare in the small business current account market. However, business owners’ attitudes towards challengers suggest there are opportunities for smaller and newer providers to grow their share of the market. For example, 57% of small business owners would be willing to use an online-only or app-based provider. If such providers can effectively market their products and offer a degree of personalisation, there is a chance that more business owners will look to switch banking providers.”

– Douglas Kitchen, Financial Services Analyst

This report examines the following issues:

Banks must regain trust before Open Banking can make its mark
Alternative lenders can reinvigorate the market

TOC available on request

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