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Understanding Why Banks and Neobanks Need to Offer Digital Asset Solutions


With over 14 million British adults owning a digital only bank account, the need for access to digital assets has never been greater. 

Digital asset usage rates are higher than ever, and both banks and neobanks (online banks without a physical highstreet presence) face a clear choice—adapt to customer needs or struggle to keep up in a quickly digitalising world.

Younger Generation Driving Service Needs

Cryptocurrencies are rising rapidly. Rather than opportunistic investments online, digital assets are now certified methods of payment that complement and enhance traditional means—in fact, 40 percent of recently surveyed 18-35 year olds confirmed that they’d like to use crypto to pay for goods and services in 2022. 

Although still to break through into the mainstream, government statistics collected during the 2021 census highlight a market potential of over 8 million customers within this age demographic in England and Wales alone. With global crypto owners forecast to reach 1 billion by the end of the year, the need for both banks and neobanks to sit up, take notice, and provide digital asset solutions is obvious.

Minting the Digital Asset Revolution

Visa has already announced partnerships with over 65 crypto wallet providers and their crypto-linked card service reached an accumulated spend of $2.5 billion in January 2022. This is not only a major milestone in terms of cryptocurrency expenditure, it’s proof that industry leaders need to swim with the tide. 

Consumers are continuing to adopt at pace, with digital assets providing a multitude of benefits when compared to static financial services. Faster transaction speeds, lower fees, and the prospect of significant yield are providing customers, particularly people under the age of 30, with the incentive to push through a fully digitalised financial ecosystem—incorporating blockchain, decentralized platforms, CBDCs, tokens, and infrastructure. 

Managed Services to Enhance Customer Experience

To remain both relevant and profitable, businesses must adapt to changing customer demands. Blockchain technology increases inclusion and autonomy within the financial sector, empowering consumers with solutions that are sustainable both long and short term. 

At Sentinel Digital, we provide a 100 percent managed service to transform and implement digital asset-based infrastructure into existing tech stacks. Our loyalty scheme rewards customers for retail spending, with interest repaid in digital assets or cashback*, while staking puts crypto to work on the blockchain through DeFi. 

Through the use of embedded finance, we’re providing infrastructure that enhances the customer experience and solidifies financial firms ahead of increased digital asset adoption rates.

Transition to Tomorrow’s Tech Today

Sentinel Digital’s industry-leading services suite provides customers with embedded financial infrastructure that’s tailored to fit. Without any need for system-wide upgrade, our technical platform is flexible, robust, and reliable—allowing for new solutions to be deployed quickly and at reduced cost.

Uniting finances with blockchain technology is now a major sustainability factor. With consumers, especially those under the age of 30, driving financial change, we’re here to guide our partners through this tech transition.

Transform Your Financial Solutions with Sentinel Digital

Sentinel Digital with our partners are able to offer modular products which include virtual debit cards, custodial and non custodial wallets, asset-backed lending, and much, much more. Visit our products page for more information and transform your financial infrastructure today.


* This service is subject to appropriately regulated conditions and availability is subject to this and other factors found in our terms and conditions.

Download the factsheet here