Financial Technology: Efficiency Evaluation of Challenger Banks

The paper conducts a comprehensive study of challenger banks. The main problem in innovation implementation is the evaluation of the effectiveness of the innovative project. The challenger bank is not just a financial institution but also an information and communication company. It allows presenting these banks in the form of information and communication system and applies the methodology of evaluation of IT projects. Basing on this assumption, a mathematical model was built to evaluate the effectiveness of this bank as an information project. On the basis of which a study was conducted on the dependence of net discounted income on changes in the number of customers of challenger bank and the number of banking operations carried out by them. The modeling resulted that this form of credit institution will be effective if the customer base crosses the line of two hundred and ten thousand people in the first year.