The thesis assesses the potential launch of a new, digital-only, challenger bank in a new market, specifically Greece. It starts with a review of the global financial crisis in 2008, examines its impact worldwide, focusing on UK, it analyzes the reasons for the launch of challenger banks in this country and their characteristics, products, services and channels. Then, it assesses the Greek economy landscape and banking competition and performs a detailed SWOT analysis of a potential establishment of a new bank and, finally, it proposes a specific business model based on the SWOT results and the UK challenger paradigm.