New MVNOs from challenger banks will try to disrupt the telecoms market with more than just low prices

The MVNO market is surprisingly active. German bank N26 launched its MVNO in April 2025, the same month that Revolut, another challenger bank, announced its MVNO for Germany and the UK. Also in the UK, energy company Octopus Energy is reportedly in talks to launch a mobile operation. 

Any new entrant will need to take customers from other providers when prices are already low, and competition is fierce. However, these challenger banks have shown that they can successfully disrupt established players in hard-to-enter markets with a combination of keen pricing and innovative services. Established telecoms operators should not be complacent.