The speed of consumers signing up to start accounts with digital banks like Monzo and Revolut dropped marginally in the second half of 2019, based on study.

A report by Accenture found that banking Climbed by 150pc from the period, down from 170pc in the first half of this year.

The study also revealed that electronic bank’s equilibrium Accounts fell to #260down from the first half of 2019 from # 350.

Digital banking companies are currently seeking to become profitable by Offering premium services such as metallic cards and subscriptions.

“Certainly they have prioritised becoming accounts in originally and today We are in this interesting period at which we could view them change that and turn into gain,” Mr Merry stated.

“There’s growing pressure on profitability,” Mr Merry stated. “They are all grappling with those experiments to attempt to locate the Winning version. From my standpoint I have not seen Front concerning cracking that version.”

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