The rise of neobanks in the UK, and indeed across the globe, has been phenomenal. Only a few years ago they were dismissed by some experts as a passing fad, or for limited spending, not a full current account. Yet, they have caused traditional players to reassess their offer and up their game.

So why have they been so successful?

Clearly there is not a single answer to this question.
From the start, they were clear and focused on what they wanted to offer and to whom. They were not trying to be all things to all people and by having such a laser focus they attracted a wider audience.

They have humanised technology. Technology is rigid and logical; people are not. When we use an app or a website, we want it to understand us, what we’re trying to achieve and treat us like a person. Good technology is intuitive, anticipating our needs and responding in a polite and friendly manner.

The user experience has been designed alongside the functional and aesthetic design, it’s not an add on. Consequently, users flow through the app easily, able to achieve their goals quickly and with confidence. They’re so good that we almost don’t notice.

The use of biometrics provides the security reassurance we all need. And the striking cards, whether it’s cool aqua or striking coral create a sense of belonging.

Let’s not forget the context either. There was little loyalty to the high street banks with many seeing them as complacent and much of a muchness. There was no loyalty, just inertia to switch. The category was ripe for disruption.

By being focused we achieve more.
By understanding our target and focusing on their goals we achieve more.
By developing user experiences in tandem with functional and aesthetic design we achieve more.