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Following the increase in interest rates, existing fintech companies such as Revolut and Monzo have already increased their savings rates. New fintech companies appearing in 2023 and 2024 will build products that incentivize customers to hold balances.
"On top of new banks that offer people incentives to keep their money, I expect to see more balance-holding features appear in existing banks," said Silverbird CEO Max Faldin.
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