A new analysis has revealed that UK neobanks have surpassed legacy banks in app downloads for the first time, boasting 71.78 million users to 71.58 million.
In 2024, UK neobanks have reportedly added 18.6 million users compared to 7.5 million for legacy banks, indicating a significant shift in consumer preferences towards modern banking.
Trading apps also saw a surge, adding almost 11 million new users globally, breaking previous records, with top apps like Trade Republic and eToro leading the industry in user growth.
Overall, 2024 is shaping up to be a record-breaking year for various fintech segments, including money management apps, which have added 1.1 million users surpassing earlier projections.
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