For challenger banks, the challenge is increasingly each other

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Switzerland’s mobile-only banking market is heating up, with a growing number of digital upstarts taking on traditional financial firms. Homegrown challenger neon recently teamed up with the cross-border payments platform Transferwise in the battle against its bigger European rivals Revolut and N26. The next step is to find partners for new products and technology, says Chief Product Officer Patric Ammann. Convinced there is room to expand in Switzerland, he says the country remains largely untapped when it comes to digital banking.