Lendable joins the neo-bank MVNO revolution, leaving high street banks for dust.
This week, Lendable made a bold claim, setting out its stall to be, as it claims, the first UK finance brand to launch a mobile network. Keeping it simple with a £20 monthly plan, is a clear message to the industry that it means business and wants to join the mobile and MVNO revolution. I really do think this a big statement of intent and worth reflecting on, especially if you’re at the helm of a high street bank. I think it underlines a pivotal trend in banking and mobile, and any high street incumbent that doesn’t have a plan, could be left for dust. Super app generation comes into play When Reuters reported the news, it referred to the ‘super app’ ecosystems that neo and digital banks are creating. It’s something we have been tracking for a while at Graystone Strategy – you may recall my blog on Revolut. I think Revolut is one of the best examples of a brand that is successfully extending its value to the customer by diversifying, in the shape of eSIMs for VIP customers. Revolut has a loyal customer base that likes using digital services to manage their money when abroad. This makes the...
