noun
a type of bank that is smaller and often more innovative than traditional banks, typically offering digital services and challenging established banking institutions
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The challenger bank aimed to disrupt the traditional banking industry with its innovative approach.
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I heard about this new challenger bank that offers really low fees and great customer service.
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Yo, have you checked out that new challenger bank? It's lit!
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In the competitive world of finance, the challenger bank was like a David taking on Goliath.