Are Rising Interest Rates Going to Propel Neobanks?

Written by adamame | Published 2022/11/30
Tech Story Tags: neobanking | interest-rate | money-transfers | finance-and-banking | finance | banking | hackernoon-top-story | neobanks | hackernoon-es | hackernoon-hi | hackernoon-zh | hackernoon-vi | hackernoon-fr | hackernoon-pt | hackernoon-ja

TLDRNeobanks 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.via the TL;DR App
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Written by adamame | Financial consultant
Published by HackerNoon on 2022/11/30
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