Most digital banks not profitable, Simon-Kucher study shows

The majority of digital banks worldwide have not managed to reach a break-even point despite their lofty valuation, says commercial strategy consultant Simon-Kucher.

商业战略顾问 Simon-Kucher 表示，尽管估值很高，但全球大多数数字银行仍未达到收支平衡点。

Noting that there are close to 400 digital banks globally serving nearly one billion client accounts, the firm said even the more renowned digital banks are barely making money.

该公司指出，全球有近 400 家数字银行为近 10 亿客户账户提供服务，该公司表示，即使是更知名的数字银行也几乎没有赚钱。

Simon-Kucher’s analysis of 25 of the largest digital banks in the world found that only two have achieved profitability, and that a majority of them earned less than US$30 (about RM131.73) in annual revenues per customer.

Simon-Kucher 对全球 25 家最大的数字银行的分析发现，只有两家实现了盈利，其中大多数银行每位客户的年收入不到 30 美元（约合 131.73 令吉）。

"Moving from 'get reach' to 'get rich' requires a dramatic mindset shift that can be difficult to orchestrate," said Christoph Stegmeier, senior partner at Simon-Kucher, in a statement.

Simon-Kucher 的高级合伙人 Christoph Stegmeier 在一份声明中说：“从‘获得影响力’到‘致富’需要一个巨大的思维转变，这种转变可能难以协调。”

"Yet it is critical that these digital banks make that leap before their sixth and seventh year in operation. The risk of failure rises exponentially at that point if the business is not even breaking even," he said.

“然而，这些数字银行在运营第六年和第七年之前实现这一飞跃至关重要。如果业务甚至没有收支平衡，那么失败的风险就会成倍增加，”他说。

This observation is in line with Bank Negara Malaysia’s eligibility criteria for digital banks in Malaysia, where the five awarded banks are required to showcase a clear projected path towards healthy returns, said the firm’s APAC banking lead Silvio Struebi.

该公司的亚太地区银行业务负责人 Silvio Struebi 表示，这一观察符合马来西亚国家银行对马来西亚数字银行的资格标准，其中要求五家获奖银行展示通往健康回报的明确预计路径。

“Many digital bank clients are inactive after opening their accounts despite high acquisition costs. Therefore, a superior customer experience combined with an attractive loyalty programme and ecosystem will make the difference in delivering long-term profitability,” he said.

“尽管购置成本很高，但许多数字银行客户在开设账户后都处于不活跃状态。因此，卓越的客户体验与有吸引力的忠诚度计划和生态系统相结合，将在实现长期盈利方面发挥重要作用，”他说。

The study also revealed that digital banking penetration is lower than expected in Malaysia when compared to other similar markets, indicating significant growth potential for market players in the country.

该研究还显示，与其他类似市场相比，马来西亚的数字银行渗透率低于预期，表明该国市场参与者具有巨大的增长潜力。

Simon-Kucher said it will be crucial for new players to get the value proposition right and develop the monetisation strategy before product launch.

Simon-Kucher 表示，对于新玩家来说，在产品发布之前正确地确定价值主张并制定货币化战略至关重要。

The firm said introducing undifferentiated digital offerings like high interest saving accounts, credit cards, and loans will not be enough to win the under-served segment and digital-savvy customers in Malaysia as incumbent banks have increased their digital capabilities to better service the clients in recent years.

该公司表示，引入高息储蓄账户、信用卡和贷款等无差别的数字产品将不足以赢得马来西亚服务不足的细分市场和精通数字的客户，因为最近几年现有银行已提高其数字能力以更好地为客户提供服务。