The Rise and Stagnation of Digital-Only Banking

New digital-only banks are being launched and fighting for market share. To a customer, the advantage of a digital-only bank is the promise of superior financial returns. Without the cost of physical offices and staff, their expense base is greatly reduced.

So why have digital-only banks not flourished? Niche market? Cybersecurity?

This paper analyzes digital-only banking and how it affects customer experience, customer demographics, and coexistence with brick-and-mortar locations.