The Profitability Challenge for Challenger Banks

Re:The Profitability Challenge for Challenger Banks by FailMore on Saturday October 12, 2019 @07:07PM (#21236991)

I worked as a VC and saw the cohorts of (non superstar) challenger bank... and omg: the more customers you have the more you lose, the more they use your product the more you lose.

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Re:The Profitability Challenge for Challenger Banks by BubRoss on Saturday October 12, 2019 @08:18PM (#21237311)

Why? It seems almost impossible to take people's money, charge them fees for it, then loan it out again for interest and still lose money.

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Re:The Profitability Challenge for Challenger Banks by 55555 on Saturday October 12, 2019 @10:49PM (#21237996)

They all charge almost no fees and there is almost no money to invest for interest. Monzo is very transparent with their financials and when I checked in mid 2018 their account balances totalled a mere 150 million USD. A single rich person might have that in an older bank.

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