The great truth
Neobanks entered the financial market with force as an agile and more transparent alternative to traditional banking, capturing the attention, at first, of the younger generations.
The elimination of physical branches, lower maintenance or transaction costs and digital solutions such as in-app onboarding served to attract a public tired of processes that are more typical of the last century.
This has meant that the sector's market share has exceeded 30% and that new customer acquisition in the last year has increased by 40%, reaching over 9 million in Spain alone.
It is also true that, after the novelty of the digitalization of banking services, the value propositions of the different players do not differ much from one another. This is forcing neobanks to face the challenge of rethinking their business model and value propositions in order to design new services and products capable of attracting new customers.
Until now online banking was led by classic actors that were digitized in a non-native and slow way, transferring traditional banking processes to a screen without squeezing the opportunities that digitization offers to the sector and following an immobilist line that has traditionally defined the banking sector.
Users under 45 years old understand the world in a very different way than their parents lived it. Their use and relationship with money are radically different and the purchase of a house or the ownership of a car are no longer a priority, giving way to new pay-per-use or sharing services.
We have built a User Experience tailored to the life of the target. E1even offers a product-solution that solves the different areas and concerns of the user.
With more than 10 unpublished products in the rest of Neobanks, e1even is a totally different proposal in substance and form.
