Concern is rising among the UK’s challenger banks in light of an increasingly crowded market which, coupled with a sizeable squeeze on revenue margins, is inhibiting the desired move into the retail banking sector. With recent data from the Bank of England highlighting consumer credit at a rate which is close to the peak of the financial crisis in late 2008, the sector is facing increased pressure and scrutiny from the FCA and the Bank of England in a bid to prevent another financial collapse.
