Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 6.41 Billion |
| USD 8.45 Billion | |
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Global Neo and Challenger Bank Market, By Type (Neo Bank, Challenger Bank), Application (Personal, Business), Services Provided (Checking and Savings Account, Payment and Money Transfer, Loans, Mobile Banking, Investment Accounts, Retirement Savings, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
According to Forbes, banks are expected to become invisible, connected, insights-driven and purposeful by the year 2030. Consumers are inclining towards neobanks and digital challenger as they are more digital, agile and innovative than a traditional banking system. These banks have successfully taken over various verticals, including payments and transfers, among others.
Global Neo and Challenger Bank Market was valued at USD 6.41 billion in 2021 and is expected to reach USD 1326.41 billion by 2029, registering a CAGR of 47.80% during the forecast period of 2022-2029. “Mobile Banking” is expected to witness high growth owing to the rapid digitization and adoption of smartphones globally. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
A neobank refers to financial tech startup that mainly focuses on delivering excellent customer experience. The major aim of the technology is acquiring as many clients as possible. It facilitates lending, payment options, and money transfers, among other banking services. Digital challenger banks are known to be similar to traditional banking institutions, but they do not require or have physical presence.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Neo Bank, Challenger Bank), Application (Personal, Business), Services Provided (Checking and Savings Account, Payment and Money Transfer, Loans, Mobile Banking, Investment Accounts, Retirement Savings, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Atom bank (UK), Fidor Solutions AG (Germany), Monzo Bank Limited (UK), Moven Enterprise (US), N26 GmbH (Germany), Tandem Bank Limited (UK), Pockit LTD (UK), UBank (Australia), PRETA S.A.S. (France), WeBank (China), Holvi Payment Services Ltd (Finaland), Hello bank (France), KOHO Financial Inc. (Canada), Rocket Bank (Russia), Soon Banque (France), Banco Bilbao Vizcaya Argentaria, S.A. (Spain), Starling Bank (UK), and DBS Bank India Limited (India), among others
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Market Opportunities
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This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
The emergence of neo and challenger banks the banking industry incorporating advance features, client-centric products and services, and real-time services acts as one of the major factors driving the neo and challenger bank market.
The increase in the popularity of challenger banks owing to its services such as investments and savings accounts, mobile banking, lending, checking and merchant accounts, among others accelerate the market growth. These banks are also considered beneficial for buying and selling of cryptocurrency, insurance products and retirement savings.
The increase in adoption of these banks due to their higher interest rates over traditional banks further influence the market. Also, the increase in government and regulatory supports toward banking operations has a positive impact on the market growth.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the neo and challenger bank market.
Opportunities
Furthermore, online offerings to unbanked population in the emerging economies extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, the introduction of both Artificial Intelligence (AI) and Machine Learning (ML) will further expand the market.
Restraints/Challenges
On the other hand, issues with maintaining strong customer relations via online services along with good customer experience are expected to obstruct market growth. Limited profitability for these start-up banks is projected to challenge the neo and challenger bank market in the forecast period of 2022-2029.
This neo and challenger bank market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on neo and challenger bank market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 had a positive impact on the neo and challenger bank market due to the rise in number of end users adopting neo and challenger bank solutions tools during the outbreak of COVID-19. An increase in the adoption of these banks for services, including Payment and Money Transfer, Checking and Savings Account, and Mobile Banking was witnessed owing to the strict lockdowns and social distancing to contain the spread of the virus. The neo and challenger bank market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of neo and challenger bank.
Recent Developments
The neo and challenger bank market is segmented on the basis of type, services provided, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Small Challenger
Large Challenger
Services Provided
Application
The neo and challenger bank market is analysed and market size insights and trends are provided by country, type, services provided, and application as referred above.
The countries covered in the neo and challenger bank market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neo and challenger bank market due to the prevalence of the major financial institutions and increased consumer awareness within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the growth of the banking sector in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The neo and challenger bank market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neo and challenger bank market.
Some of the major players operating in neo and challenger bank market are
SKU-
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF GLOBAL NEO AND CHALLENGER BANK MARKET
1.4 CURRENCY AND PRICING
1.5 LIMITATION
1.6 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 KEY TAKEAWAYS
2.2 ARRIVING AT THE GLOBAL NEO AND CHALLENGER BANK MARKET
2.2.1 VENDOR POSITIONING GRID
2.2.2 TECHNOLOGY LIFE LINE CURVE
2.2.3 MARKET GUIDE
2.2.4 COMPANY POSITIONING GRID
2.2.5 MULTIVARIATE MODELLING
2.2.6 STANDARDS OF MEASUREMENT
2.2.7 TOP TO BOTTOM ANALYSIS
2.2.8 VENDOR SHARE ANALYSIS
2.2.9 DATA POINTS FROM KEY PRIMARY INTERVIEWS
2.2.10 DATA POINTS FROM KEY SECONDARY DATABASES
2.3 GLOBAL NEO AND CHALLENGER BANK MARKET: RESEARCH SNAPSHOT
2.4 ASSUMPTIONS
3 MARKET OVERVIEW
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 CHALLENGES
4 EXECUTIVE SUMMARY
5 PREMIUM INSIGHTS
5.1 CASE STUDIES
5.2 REGULATORY FRAMEWORK
5.3 TECHNOLOGICAL TRENDS
5.4 PRICING ANALYSIS
5.5 VALUE CHAIN ANALYSIS
6 GLOBAL NEO AND CHALLENGER BANK MARKET, BY SERVICE TYPE
6.1 OVERVIEW
6.2 MOBILE BANKING
6.3 PAYMENT & MONEY TRANSFER
6.4 LOANS
6.5 SAVINGS ACCOUNT
6.6 TAXATION
6.7 OTHERS
7 GLOBAL NEO AND CHALLENGER BANK MARKET, BY LAYER TYPE
7.1 OVERVIEW
7.2 TRANSACTION MONITORING AND COMPLIANCE
7.3 PAYMENT GATEWAYS
7.4 MULTIPLE BANKING PARTNERS
7.5 EMERGING TECH ACCESS READY
7.6 OTHERS
8 GLOBAL NEO AND CHALLENGER BANK MARKET, BY ORGANIZATION SIZE
8.1 OVERVIEW
8.2 SMALL SCALE ORGANIZATIONS
8.3 MEDIUM SCALE ORGANIZATIONS
8.4 LARGE SCALE ORGANIZATIONS
9 GLOBAL NEO AND CHALLENGER BANK MARKET, BY END-USE
9.1 OVERVIEW
9.2 IT & TELECOMMUNICATION
9.2.1 BY SERVICE TYPE
9.2.1.1. MOBILE BANKING
9.2.1.2. PAYMENT & MONEY TRANSFER
9.2.1.3. LOANS
9.2.1.4. SAVINGS ACCOUNT
9.2.1.5. TAXATION
9.2.1.6. OTHERS
9.3 EDUCATION
9.3.1 BY SERVICE TYPE
9.3.1.1. MOBILE BANKING
9.3.1.2. PAYMENT & MONEY TRANSFER
9.3.1.3. LOANS
9.3.1.4. SAVINGS ACCOUNT
9.3.1.5. TAXATION
9.3.1.6. OTHERS
9.4 TRAVEL & HOSPITALITY
9.4.1 BY SERVICE TYPE
9.4.1.1. MOBILE BANKING
9.4.1.2. PAYMENT & MONEY TRANSFER
9.4.1.3. LOANS
9.4.1.4. SAVINGS ACCOUNT
9.4.1.5. TAXATION
9.4.1.6. OTHERS
9.5 E-COMMERCE
9.5.1 BY SERVICE TYPE
9.5.1.1. MOBILE BANKING
9.5.1.2. PAYMENT & MONEY TRANSFER
9.5.1.3. LOANS
9.5.1.4. SAVINGS ACCOUNT
9.5.1.5. TAXATION
9.5.1.6. OTHERS
9.6 OTHERS
9.6.1 BY SERVICE TYPE
9.6.1.1. MOBILE BANKING
9.6.1.2. PAYMENT & MONEY TRANSFER
9.6.1.3. LOANS
9.6.1.4. SAVINGS ACCOUNT
9.6.1.5. TAXATION
9.6.1.6. OTHERS
10 GLOBAL NEO AND CHALLENGER BANK MARKET, BY REGION
GLOBAL NEO AND CHALLENGER BANK MARKET, (ALL SEGMENTATION PROVIDED ABOVE IS REPRESENTED IN THIS CHAPTER BY COUNTRY)
10.1 NORTH AMERICA
10.1.1 U.S.
10.1.2 CANADA
10.1.3 MEXICO
10.2 EUROPE
10.2.1 GERMANY
10.2.2 FRANCE
10.2.3 U.K.
10.2.4 ITALY
10.2.5 SPAIN
10.2.6 RUSSIA
10.2.7 TURKEY
10.2.8 BELGIUM
10.2.9 NETHERLANDS
10.2.10 SWITZERLAND
10.2.11 REST OF EUROPE
10.3 ASIA PACIFIC
10.3.1 JAPAN
10.3.2 CHINA
10.3.3 SOUTH KOREA
10.3.4 INDIA
10.3.5 AUSTRALIA
10.3.6 SINGAPORE
10.3.7 THAILAND
10.3.8 MALAYSIA
10.3.9 INDONESIA
10.3.10 PHILIPPINES
10.3.11 REST OF ASIA PACIFIC
10.4 SOUTH AMERICA
10.4.1 BRAZIL
10.4.2 ARGENTINA
10.4.3 REST OF SOUTH AMERICA
10.5 MIDDLE EAST AND AFRICA
10.5.1 SOUTH AFRICA
10.5.2 EGYPT
10.5.3 SAUDI ARABIA
10.5.4 U.A.E
10.5.5 ISRAEL
10.5.6 REST OF MIDDLE EAST AND AFRICA
11 GLOBAL NEO AND CHALLENGER BANK MARKET,COMPANY LANDSCAPE
11.1 COMPANY SHARE ANALYSIS: GLOBAL
11.2 COMPANY SHARE ANALYSIS: NORTH AMERICA
11.3 COMPANY SHARE ANALYSIS: EUROPE
11.4 COMPANY SHARE ANALYSIS: ASIA-PACIFIC
11.5 MERGERS & ACQUISITIONS
11.6 NEW PRODUCT DEVELOPMENT AND APPROVALS
11.7 EXPANSIONS
11.8 REGULATORY CHANGES
11.9 PARTNERSHIP AND OTHER STRATEGIC DEVELOPMENTS
12 GLOBAL NEO AND CHALLENGER BANK MARKET, SWOT AND DBMR ANALYSIS
13 GLOBAL NEO AND CHALLENGER BANK MARKET, COMPANY PROFILE
13.1 MONZO BANK LIMITED
13.1.1 COMPANY SNAPSHOT
13.1.2 REVENUE ANALYSIS
13.1.3 GEOGRAPHIC PRESENCE
13.1.4 PRODUCT PORTFOLIO
13.1.5 RECENT DEVELOPMENTS
13.2 FIDOR SOLUTIONS AG
13.2.1 COMPANY SNAPSHOT
13.2.2 REVENUE ANALYSIS
13.2.3 GEOGRAPHIC PRESENCE
13.2.4 PRODUCT PORTFOLIO
13.2.5 RECENT DEVELOPMENTS
13.3 SIMPLE FINANCE TECHNOLOGY CORPORATION
13.3.1 COMPANY SNAPSHOT
13.3.2 REVENUE ANALYSIS
13.3.3 GEOGRAPHIC PRESENCE
13.3.4 PRODUCT PORTFOLIO
13.3.5 RECENT DEVELOPMENTS
13.4 UBANK LIMITED
13.4.1 COMPANY SNAPSHOT
13.4.2 REVENUE ANALYSIS
13.4.3 GEOGRAPHIC PRESENCE
13.4.4 PRODUCT PORTFOLIO
13.4.5 RECENT DEVELOPMENTS
13.5 TANDEM BANK
13.5.1 COMPANY SNAPSHOT
13.5.2 REVENUE ANALYSIS
13.5.3 GEOGRAPHIC PRESENCE
13.5.4 PRODUCT PORTFOLIO
13.5.5 RECENT DEVELOPMENTS
13.6 ATOM BANK PLC
13.6.1 COMPANY SNAPSHOT
13.6.2 REVENUE ANALYSIS
13.6.3 GEOGRAPHIC PRESENCE
13.6.4 PRODUCT PORTFOLIO
13.6.5 RECENT DEVELOPMENTS
13.7 WEBANK
13.7.1 COMPANY SNAPSHOT
13.7.2 REVENUE ANALYSIS
13.7.3 GEOGRAPHIC PRESENCE
13.7.4 PRODUCT PORTFOLIO
13.7.5 RECENT DEVELOPMENTS
13.8 MOVENCORP, INC
13.8.1 COMPANY SNAPSHOT
13.8.2 REVENUE ANALYSIS
13.8.3 GEOGRAPHIC PRESENCE
13.8.4 PRODUCT PORTFOLIO
13.8.5 RECENT DEVELOPMENTS
13.9 NUMBER26 GMBH
13.9.1 COMPANY SNAPSHOT
13.9.2 REVENUE ANALYSIS
13.9.3 GEOGRAPHIC PRESENCE
13.9.4 PRODUCT PORTFOLIO
13.9.5 RECENT DEVELOPMENTS
13.1 MY BANK
13.10.1 COMPANY SNAPSHOT
13.10.2 REVENUE ANALYSIS
13.10.3 GEOGRAPHIC PRESENCE
13.10.4 PRODUCT PORTFOLIO
13.10.5 RECENT DEVELOPMENTS
13.11 ORANGE BANK
13.11.1 COMPANY SNAPSHOT
13.11.2 REVENUE ANALYSIS
13.11.3 GEOGRAPHIC PRESENCE
13.11.4 PRODUCT PORTFOLIO
13.11.5 RECENT DEVELOPMENTS
13.12 AIRSTAR BANK
13.12.1 COMPANY SNAPSHOT
13.12.2 REVENUE ANALYSIS
13.12.3 GEOGRAPHIC PRESENCE
13.12.4 PRODUCT PORTFOLIO
13.12.5 RECENT DEVELOPMENTS
13.13 FREO MONEY
13.13.1 COMPANY SNAPSHOT
13.13.2 REVENUE ANALYSIS
13.13.3 GEOGRAPHIC PRESENCE
13.13.4 PRODUCT PORTFOLIO
13.13.5 RECENT DEVELOPMENTS
13.14 BIGPAY
13.14.1 COMPANY SNAPSHOT
13.14.2 REVENUE ANALYSIS
13.14.3 GEOGRAPHIC PRESENCE
13.14.4 PRODUCT PORTFOLIO
13.14.5 RECENT DEVELOPMENTS
13.15 MONESE
13.15.1 COMPANY SNAPSHOT
13.15.2 REVENUE ANALYSIS
13.15.3 GEOGRAPHIC PRESENCE
13.15.4 PRODUCT PORTFOLIO
13.15.5 RECENT DEVELOPMENTS
13.16 VIVID MONEY
13.16.1 COMPANY SNAPSHOT
13.16.2 REVENUE ANALYSIS
13.16.3 GEOGRAPHIC PRESENCE
13.16.4 PRODUCT PORTFOLIO
13.16.5 RECENT DEVELOPMENTS
13.17 ATOM BANK
13.17.1 COMPANY SNAPSHOT
13.17.2 REVENUE ANALYSIS
13.17.3 GEOGRAPHIC PRESENCE
13.17.4 PRODUCT PORTFOLIO
13.17.5 RECENT DEVELOPMENTS
13.18 STARLING BANK
13.18.1 COMPANY SNAPSHOT
13.18.2 REVENUE ANALYSIS
13.18.3 GEOGRAPHIC PRESENCE
13.18.4 PRODUCT PORTFOLIO
13.18.5 RECENT DEVELOPMENTS
13.19 VOLT BANK
13.19.1 COMPANY SNAPSHOT
13.19.2 REVENUE ANALYSIS
13.19.3 GEOGRAPHIC PRESENCE
13.19.4 PRODUCT PORTFOLIO
13.19.5 RECENT DEVELOPMENTS
13.2 TONIK BANK
13.20.1 COMPANY SNAPSHOT
13.20.2 REVENUE ANALYSIS
13.20.3 GEOGRAPHIC PRESENCE
13.20.4 PRODUCT PORTFOLIO
13.20.5 RECENT DEVELOPMENTS
13.21 MA FRENCH BANK
13.21.1 COMPANY SNAPSHOT
13.21.2 REVENUE ANALYSIS
13.21.3 GEOGRAPHIC PRESENCE
13.21.4 PRODUCT PORTFOLIO
13.21.5 RECENT DEVELOPMENTS
13.22 CURVE
13.22.1 COMPANY SNAPSHOT
13.22.2 REVENUE ANALYSIS
13.22.3 GEOGRAPHIC PRESENCE
13.22.4 PRODUCT PORTFOLIO
13.22.5 RECENT DEVELOPMENTS
13.23 OOKNORTH
13.23.1 COMPANY SNAPSHOT
13.23.2 REVENUE ANALYSIS
13.23.3 GEOGRAPHIC PRESENCE
13.23.4 PRODUCT PORTFOLIO
13.23.5 RECENT DEVELOPMENTS
13.24 BUNQ
13.24.1 COMPANY SNAPSHOT
13.24.2 REVENUE ANALYSIS
13.24.3 GEOGRAPHIC PRESENCE
13.24.4 PRODUCT PORTFOLIO
13.24.5 RECENT DEVELOPMENTS
NOTE: THE COMPANIES PROFILED IS NOT EXHAUSTIVE LIST AND IS AS PER OUR PREVIOUS CLIENT REQUIREMENT. WE PROFILE MORE THAN 100 COMPANIES IN OUR STUDIES AND HENCE THE LIST OF COMPANIES CAN BE MODIFIED OR REPLACED ON REQUEST.
14 CONCLUSION
15 QUESTIONNAIRE
16 RELATED REPORTS
17 ABOUT DATA BRIDGE MARKET RESEARCH
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