Research from consultancy Accenture reveals that digital banks had a total of 19.6 million customers at the end of 2019, up from 13 million in the first half of 2019, according to Accenture’s Digital Banking Tracker.
Digital banks have nearly trebled their customer base in the past year, up from 7.7 million customers in 2018 to near 20 million in 2019, the research found.
According to Accenture, the 150% growth seen by UK digital banks outstrips growth of 2% seen by traditional banks.
But the research also found that the 150% growth in the second half was down from 170% in the first half while the average deposit balance dropped by 25% from GBP 350 to GBP 260 per customer.
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