Monzo bank attracted the biggest amount of account switchers in the final three months of last year according to the most recent data.
With regard to the coronavirus crisis, Boden is sure this will bring the demise of cash money. But she is also aware that this doesn't just bring benefits as it comes with other challenges.
The Covid-19 outbreak is having irreversible impacts on the banking industry already. Above all, it forces banks to shut their branches. And digital challengers such as N26 are quick to jump on the opportunity to change customer behaviour for good.
Despite the decline, the fintech industry's performance in 2022 still beats its performance from two years ago, with funding increasing by 52% compared to 2020.
The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.
As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.