Are Rising Interest Rates Going to Propel Neobanks? by@adamame
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Are Rising Interest Rates Going to Propel Neobanks?

November 30th 2022
6 min
by @adamame 4,513 reads
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Neobanks are a fintech bank that focuses on its software and apps to streamline a more modern online banking experience. Average interest rates among high street banks in the US are around 3%. The last time the US Fed Funds Rate was this high was in 2008, a time when neobanks didn’t really exist. The search for “best savings account” has gone up by 300% in volume on Google in the U.S. Since then, they only have around 8% market share for current accounts in the UK.

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