Mitra is the former global head of marketing & customer experience at HSBC Global Banking and Markets. 

“Traditional banks need to reform, and quickly," said Mitra. "Rapid fintech innovation is transforming and lowering the once massive barriers to entry for banking from smaller and newer entrants. Whilst digitally-enabled challenger banks are emerging from within banking, out-of-category brands, mobile and social platforms and transaction processors cannot be ignored.

"[...] while challenger banks are well placed to win consumer trust lost by their high-street counterparts in the banking turmoil of the past decade, we question the ability of digital delivery propositions alone succeeding in the absence of a real connection with consumer needs.”  

Nadim Sadek, TransgressiveX CEO, added: "We can help challenger banks develop stronger propositions that offer clear differentiation, through communications that should be seducing and persuading habitually sceptical customers. The winners will have aspirational propositions like entrepreneurship, achieving social mobility, sustainable investments and by offering end to end services along the various life stages of both a venture and a life today.”