FinTech companies changed the perception of what the digital space can offer, having attracted billions of dollars of investment due to their disruptive digital solutions. UK challengers such as Monzo are reportedly closing a new funding round, while Revolut has reached $5.5Bn of valuation in February; Tandem Bank, whose business is focused on mortgages, is planning on expanding to Hong Kong. Nubank has acquired over 25 million consumers in Latin America. Hong Kong has granted 8 virtual banking licenses in 2019 and have experienced new exciting launches earlier this spring. Although the challengers have seen massive cash injections from the investors, how do they justify their valuation and maintain investors’ trust? What is a successful strategy to survive for both challengers and incumbents, whether the end goal is to thrive in the market or eventually going IPO.