With the start of the new year, we have made an overview of the Top-15 Challenger Banks over the past 5 years, highlighting the leaders over time.
While our the total Challenger Bank Index grew over 7x larger, the top-15 has been relatively stable; 10 out of the 15 have maintained their leading position, while the other 5 are mostly still in the top-25.
The main winners are Nubank, Revolut,, N26, Monzo and Chime. Nickel, Transferwise, Robinhood and SoFI have also done well in largely maintaining their leading positions. Some others such as Mogo and Simple stagnated and lost their leading positions. Noteworthy is also Atom Bank that was touted to be the first UK challenger bank, but has fallen far outside the top.
Honorable mentions to Holvi, Tochka Bank, KakaoBank and WeBank who barely missed the Top-15 several times over the years.
