At the core of the difference between challenger/FinTech banks and incumbents is their mission: challenger/FinTechs want to radically simplify the banking experience, but incumbents seem much more intent on wanting you to choose their bank products over their competitors. Friction is the antithesis of the design premise for FinTech banks. Every FinTech is trying to take friction out of the experience, making it faster, easier and sexier6
