Aussies Give Thumbs-Up To New Range of ‘Digital Banks’
Australians are increasingly looking to move their financial affairs from the big four traditional banks to the new class of smaller “digital banks”, according to a new Nielsen survey.
Among the 2.1 million Australians aged 18-plus who are looking to change their main financial institution, 67pc are big-four customers – with 16 percent looking to change to digital banks such as ING, ME Bank or UBank.
“This represents a five percentage point increase from June 2017 to June 2018,” Nielsen says.
It says neobanks have no bricks-and-mortar branches, no service centres, and sometimes not even a desktop banking option – making them purely mobile