Truist Financial Corporation (NYSE: TFC) today announced a significant strategic growth investment over the next five years to attract new and grow existing client relationships in some of the strongest growth markets in the country.

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.

JPMorgan Chase closes approximately one-fifth of its bank branches to help to stop the spread of COVID-19.