Product Code: 2844
The neobanking market is projected to exhibit exponential development by 2028 on account of widespread integration of blockchain & AI technologies into banking. In addition, growing investments in fintech, along with burgeoning number of fintech startups across the globe, are likely to further augment industry uptake over the forecast timeline.
Neo-banks have profoundly changed the traditional banking system by using technology and artificial intelligence (AI) to provide consumers with a variety of personalized services. Rising penetration of smartphones and internet services globally has propelled market expansion over the past few years.
Furthermore, to accommodate the surging demand for convenient digital banking services, industry players have been employing gainful strategies, which has positively influenced the overall business scenario. For instance, in March 2022, Orange Bank, a major neobanking institution, extended its partnership agreement with electronics giant Samsung Electronics Co., Ltd. to enhance customer experience and increase product life. The agreement was intended to cut down on mobile equipment waste, expand 5G services, and improve end-user multi-device digital experiences.
To cite another instance, in August 2021, NuBank, a Brazil-based fintech bank, announced the acquisition of PIX payment, an instant payment platform formerly managed by the Central Bank of Brazil. The deal enabled NuBank to broaden its payment solutions for e-retail by leveraging Pix's Spin Pay instant payments platform.
The neobanking market has been segmented on the basis of application, account type, service, and region. With respect to service, the market has further been divided into loans, mobile banking, checking/savings account, and payment/money transfer.
The mobile banking sub-segment is speculated to reach a substantial valuation by the end of 2028, progressing at a CAGR of approximately 46.6% over the assessment period. This growth is attributed to the increased ease of banking with innovative neobank mobile apps.
From the regional point of view, the Latin America neobanking market accounted for nearly 7.5% of the overall industry revenue in 2021 and is anticipated to garner significant gains by the end of the review timeline. Mounting penetration of smartphones and continuously improving infrastructure for supporting digital-only banking in LATAM are likely to drive regional market expansion over the following years.
The Middle East & Africa neobanking market is expected to develop at a CAGR of more than 44.4% over the forecast timeframe to attain a considerable revenue by the end of 2028. Prevalent shift of young consumers towards next-gen challenger banks and rising affinity towards digital-only banking channels are set to bolster market growth in MEA in the coming time period.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Scope & definitions
- 1.2 Methodology & forecast parameters
- 1.3 Region wise COVID-19 impact analysis
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 Middle East & Africa
- 1.4 Regional trends
- 1.5 Data Sources
- 1.5.1 Secondary
- 1.5.2 Primary
- 1.6 Industry glossary
Chapter 2 Executive Summary
- 2.1 Neobanking industry 360 degree synopsis, 2018 - 2028
- 2.2 Business trends
- 2.3 Regional trends
- 2.4 Account type trends
- 2.5 Service trends
- 2.6 Application trends
Chapter 3 Neobanking Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1 Global outlook
- 3.2.2 By region
- 3.2.2.1 North America
- 3.2.2.2 Europe
- 3.2.2.3 Asia Pacific
- 3.2.2.4 Latin America
- 3.2.2.5 Middle East & Africa
- 3.2.3 Industry value chain
- 3.2.3.1 Suppliers
- 3.2.3.2 Neobanking technology providers
- 3.2.3.3 Marketing and distribution channels
- 3.2.4 Compeitive landscape
- 3.2.4.1 Strategy
- 3.2.4.2 Distribution network
- 3.2.4.3 Business growth
- 3.3 Evolution of neobanking
- 3.4 Neobanking industry ecosystem analysis
- 3.4.1 Digital banking industry ecosystem analysis
- 3.4.2 Profit margin analysis
- 3.4.3 Vendor matrix
- 3.5 Investment portfolio
- 3.6 Patent analysis
- 3.7 Technology & innovation landscape
- 3.7.1 Artificial Intelligence (AI)
- 3.7.2 APIs
- 3.7.3 Blockchain
- 3.7.4 Human digital interface
- 3.8 Regulatory landscape
- 3.8.1 Alternative Investment Fund Managers Directive (AIFMD)
- 3.8.2 Anti-Money Laundering Directive 2015/849/EU (AMLD)
- 3.8.3 Dodd-Frank Wall Street Reform and Consumer Protection Act
- 3.8.4 European Market Infrastructure Regulation (EMIR)
- 3.8.5 Federal Information Security Management Act (FISMA)
- 3.8.6 Foreign Account Tax Compliance Act (FATCA)
- 3.8.7 General Data Protection Regulation (GDPR)
- 3.8.8 Health Insurance Portability and Accountability Act (HIPAA)
- 3.8.9 Markets in Financial Instruments Directive (MiFID)
- 3.8.10 North American Electric Reliability Corp. (NERC) standards
- 3.8.11 Payment Card Industry Data Security Standard (PCI DSS)
- 3.8.12 The Gramm-Leach-Bliley Act (GLB) Act of 1999
- 3.8.13 The Sarbanes-Oxley Act of 2022
- 3.9 Industry impact forces
- 3.9.1 Growth drivers
- 3.9.1.1 Integration of AI & blockchain technology into banking
- 3.9.1.2 Changing consumer behavior towards traditional banking methods
- 3.9.1.3 Growing demand of digitalization among the banking institutes
- 3.9.1.4 Rising investment in Fintech
- 3.9.1.5 Increasing adoption of electronic and mobile payment solutions
- 3.9.2 Industry pitfalls & challenges
- 3.9.2.1 Lack of clear regulatory framework
- 3.9.2.2 Rising cybersecurity issues
- 3.10 Growth potential analysis
- 3.11 Porter's analysis
- 3.11.1 Threat of new entrants
- 3.11.2 Bargaining power of suppliers
- 3.11.3 Barganing power of buyers
- 3.11.4 Threat of substitutes
- 3.12 PESTLE analysis
- 3.12.1 Political
- 3.12.2 Economic
- 3.12.3 Social
- 3.12.4 Technological
- 3.12.5 Legal
- 3.12.6 Environmental
Chapter 4 Competitive Landscape,
- 4.1 Introduction
- 4.2 Company market share
- 4.3 Competive analysis of key market players, 2021
- 4.3.1 Chart key
- 4.3.2 BBVA S.A.
- 4.3.3 Citigroup Inc.
- 4.3.4 Deutsche Bank AG
- 4.3.5 Digibank (DBS Bank Ltd.)
- 4.3.6 HSBC Holdings Plc
- 4.3.7 Sopra Steria Group
- 4.3.8 Tinkoff Bank
- 4.4 Competive analysis of innovation leaders, 2021
- 4.4.1 Chime Financial, Inc.
- 4.4.2 Equitable Bank
- 4.4.3 Nubank S.A.
- 4.4.4 OTP Bank Group
- 4.4.5 SoFi Technologies, Inc.
- 4.5 Vendor adoption matrix
Chapter 5 Neobanking Market, By Account Type
- 5.1 Neobanking market, by account type , 2021 & 2028
- 5.2 Business account
- 5.2.1 Market estimates and forecast, 2018 - 2028
- 5.3 Savings account
- 5.3.1 Market estimates and forecast, 2018 - 2028
Chapter 6 Neobanking Market, By Service
- 6.1 Neobanking market, by Service, 2021 & 2028
- 6.2 Mobile banking
- 6.2.1 Market estimates and forecast, 2018 - 2028
- 6.3 Payments & money transfer
- 6.3.1 Market estimates and forecast, 2018 - 2028
- 6.4 Checking/savings account
- 6.4.1 Market estimates and forecast, 2018 - 2028
- 6.5 Loans
- 6.5.1 Market estimates and forecast, 2018 - 2028
- 6.6 Others
- 6.6.1 Market estimates and forecast, 2018 - 2028
Chapter 7 Neobanking Market, By Application
- 7.1 Neobanking market, by application, 2021 & 2028
- 7.2 Enterprises
- 7.2.1 Market estimates and forecast, 2018 - 2028
- 7.3 Personal
- 7.3.1 Market estimates and forecast, 2018 - 2028
- 7.4 Others
- 7.4.1 Market estimates and forecast, 2018 - 2028
Chapter 8 Neobanking Market, By Region
- 8.1 Neobanking market, by region, 2021 & 2028
- 8.2 North America
- 8.2.1 Market estimates and forecast, 2018 - 2028
- 8.2.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.2.3 Market estimates and forecast, by service, 2018 - 2028
- 8.2.4 Market estimates and forecast, by application, 2018 - 2028
- 8.2.5 U.S.
- 8.2.5.1 Market estimates and forecast, 2018 - 2028
- 8.2.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.2.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.2.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.2.6 Canada
- 8.2.6.1 Market estimates and forecast, 2018 - 2028
- 8.2.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.2.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.2.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3 Europe
- 8.3.1 Market estimates and forecast, 2018 - 2028
- 8.3.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.5 UK
- 8.3.5.1 Market estimates and forecast, 2018 - 2028
- 8.3.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.6 Germany
- 8.3.6.1 Market estimates and forecast, 2018 - 2028
- 8.3.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.7 France
- 8.3.7.1 Market estimates and forecast, 2018 - 2028
- 8.3.7.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.7.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.7.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.8 Italy
- 8.3.8.1 Market estimates and forecast, 2018 - 2028
- 8.3.8.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.8.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.8.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.9 Spain
- 8.3.9.1 Market estimates and forecast, 2018 - 2028
- 8.3.9.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.9.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.9.4 Market estimates and forecast, by application, 2018 - 2028
- 8.3.10 Russia
- 8.3.10.1 Market estimates and forecast, 2018 - 2028
- 8.3.10.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.3.10.3 Market estimates and forecast, by service, 2018 - 2028
- 8.3.10.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4 Asia Pacific
- 8.4.1 Market estimates and forecast, 2018 - 2028
- 8.4.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.5 China
- 8.4.5.1 Market estimates and forecast, 2018 - 2028
- 8.4.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.6 India
- 8.4.6.1 Market estimates and forecast, 2018 - 2028
- 8.4.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.7 Japan
- 8.4.7.1 Market estimates and forecast, 2018 - 2028
- 8.4.7.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.7.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.7.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.8 South Korea
- 8.4.8.1 Market estimates and forecast, 2018 - 2028
- 8.4.8.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.8.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.8.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.9 ANZ
- 8.4.9.1 Market estimates and forecast, 2018 - 2028
- 8.4.9.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.9.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.9.4 Market estimates and forecast, by application, 2018 - 2028
- 8.4.10 Singapore
- 8.4.10.1 Market estimates and forecast, 2018 - 2028
- 8.4.10.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.4.10.3 Market estimates and forecast, by service, 2018 - 2028
- 8.4.10.4 Market estimates and forecast, by application, 2018 - 2028
- 8.5 Latin America
- 8.5.1 Market estimates and forecast, 2018 - 2028
- 8.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.5.5 Brazil
- 8.5.5.1 Market estimates and forecast, 2018 - 2028
- 8.5.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.5.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.5.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.5.6 Mexico
- 8.5.6.1 Market estimates and forecast, 2018 - 2028
- 8.5.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.5.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.5.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.5.7 Argentina
- 8.5.7.1 Market estimates and forecast, 2018 - 2028
- 8.5.7.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.5.7.3 Market estimates and forecast, by service, 2018 - 2028
- 8.5.7.4 Market estimates and forecast, by application, 2018 - 2028
- 8.5.8 Colombia
- 8.5.8.1 Market estimates and forecast, 2018 - 2028
- 8.5.8.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.5.8.3 Market estimates and forecast, by service, 2018 - 2028
- 8.5.8.4 Market estimates and forecast, by application, 2018 - 2028
- 8.6 MEA
- 8.6.1 Market estimates and forecast, 2018 - 2028
- 8.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.6.5 Saudi Arabia
- 8.6.5.1 Market estimates and forecast, 2018 - 2028
- 8.6.5.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.6.5.3 Market estimates and forecast, by service, 2018 - 2028
- 8.6.5.4 Market estimates and forecast, by application, 2018 - 2028
- 8.6.6 UAE
- 8.6.6.1 Market estimates and forecast, 2018 - 2028
- 8.6.6.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.6.6.3 Market estimates and forecast, by service, 2018 - 2028
- 8.6.6.4 Market estimates and forecast, by application, 2018 - 2028
- 8.6.7 South Africa
- 8.6.7.1 Market estimates and forecast, 2018 - 2028
- 8.6.7.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.6.7.3 Market estimates and forecast, by service, 2018 - 2028
- 8.6.7.4 Market estimates and forecast, by application, 2018 - 2028
- 8.6.8 Israel
- 8.6.8.1 Market estimates and forecast, 2018 - 2028
- 8.6.8.2 Market estimates and forecast, by account type , 2018 - 2028
- 8.6.8.3 Market estimates and forecast, by service, 2018 - 2028
- 8.6.8.4 Market estimates and forecast, by application, 2018 - 2028
Chapter 9 Company Profiles
- 9.1 Atom Bank Plc
- 9.1.1 Business Overview
- 9.1.2 Financial Data
- 9.1.3 Product Landscape
- 9.1.4 Strategic Outlook
- 9.1.5 SWOT Analysis
- 9.2 BBVA S.A.
- 9.2.1 Business Overview
- 9.2.2 Financial Data
- 9.2.3 Product Landscape
- 9.2.4 Strategic Outlook
- 9.2.5 SWOT Analysis
- 9.3 BMTX, Inc.
- 9.3.1 Business Overview
- 9.3.2 Financial Data
- 9.3.3 Product Landscape
- 9.3.4 Strategic Outlook
- 9.3.5 SWOT Analysis
- 9.4 Chime Financial, Inc.
- 9.4.1 Business Overview
- 9.4.2 Financial Data
- 9.4.3 Product Landscape
- 9.4.4 Strategic Outlook
- 9.4.5 SWOT Analysis
- 9.5 Citigroup Inc.
- 9.5.1 Business Overview
- 9.5.2 Financial Data
- 9.5.3 Product Landscape
- 9.5.4 Strategic Outlook
- 9.5.5 SWOT Analysis
- 9.6 Dave, Inc.
- 9.6.1 Business Overview
- 9.6.2 Financial Data
- 9.6.3 Product Landscape
- 9.6.4 Strategic Outlook
- 9.6.5 SWOT Analysis
- 9.7 Deutsche Bank AG
- 9.7.1 Business Overview
- 9.7.2 Financial Data
- 9.7.3 Product Landscape
- 9.7.4 Strategic Outlook
- 9.7.5 SWOT Analysis
- 9.8 Digibank (DBS Bank Ltd.)
- 9.8.1 Business Overview
- 9.8.2 Financial Data
- 9.8.3 Product Landscape
- 9.8.4 Strategic Outlook
- 9.8.5 SWOT Analysis
- 9.9 Equitable Bank
- 9.9.1 Business Overview
- 9.9.2 Financial Data
- 9.9.3 Product Landscape
- 9.9.4 Strategic Outlook
- 9.9.5 SWOT Analysis
- 9.10 HSBC Holdings Plc
- 9.10.1 Business Overview
- 9.10.2 Financial Data
- 9.10.3 Product Landscape
- 9.10.4 Strategic Outlook
- 9.10.5 SWOT Analysis
- 9.11 Monzo Bank Ltd.
- 9.11.1 Business Overview
- 9.11.2 Financial Data
- 9.11.3 Product Landscape
- 9.11.4 Strategic Outlook
- 9.11.5 SWOT Analysis
- 9.12 N26 GmbH
- 9.12.1 Business Overview
- 9.12.2 Financial Data
- 9.12.3 Product Landscape
- 9.12.4 Strategic Outlook
- 9.12.5 SWOT Analysis
- 9.13 Neo Financial Technologies Inc
- 9.13.1 Business Overview
- 9.13.2 Financial Data
- 9.13.3 Product Landscape
- 9.13.4 Strategic Outlook
- 9.13.5 SWOT Analysis
- 9.14 Nubank S.A.
- 9.14.1 Business Overview
- 9.14.2 Financial Data
- 9.14.3 Product Landscape
- 9.14.4 Strategic Outlook
- 9.14.5 SWOT Analysis
- 9.15 OakNorth
- 9.15.1 Business Overview
- 9.15.2 Financial Data
- 9.15.3 Product Landscape
- 9.15.4 Strategic Outlook
- 9.15.5 SWOT Analysis
- 9.16 Orange Bank
- 9.16.1 Business Overview
- 9.16.2 Financial Data
- 9.16.3 Product Landscape
- 9.16.4 Strategic Outlook
- 9.16.5 SWOT Analysis
- 9.17 OTP Bank Group
- 9.17.1 Business Overview
- 9.17.2 Financial Data
- 9.17.3 Product Landscape
- 9.17.4 Strategic Outlook
- 9.17.5 SWOT Analysis
- 9.18 Paytm Payments Bank
- 9.18.1 Business Overview
- 9.18.2 Financial Data
- 9.18.3 Product Landscape
- 9.18.4 Strategic Outlook
- 9.18.5 SWOT Analysis
- 9.19 Revolut Ltd.
- 9.19.1 Business Overview
- 9.19.2 Financial Data
- 9.19.3 Product Landscape
- 9.19.4 Strategic Outlook
- 9.19.5 SWOT Analysis
- 9.20 SoFi Technologies, Inc.
- 9.20.1 Business Overview
- 9.20.2 Financial Data
- 9.20.3 Product Landscape
- 9.20.4 Strategic Outlook
- 9.20.5 SWOT Analysis
- 9.21 Sopra Steria Group
- 9.21.1 Business Overview
- 9.21.2 Financial Data
- 9.21.3 Product Landscape
- 9.21.4 Strategic Outlook
- 9.21.5 SWOT Analysis
- 9.22 Starling Bank
- 9.22.1 Business Overview
- 9.22.2 Financial Data
- 9.22.3 Product Landscape
- 9.22.4 Strategic Outlook
- 9.22.5 SWOT Analysis
- 9.23 Tangerine Bank
- 9.23.1 Business Overview
- 9.23.2 Financial Data
- 9.23.3 Product Landscape
- 9.23.4 Strategic Outlook
- 9.23.5 SWOT Analysis
- 9.24 Tinkoff Bank
- 9.24.1 Business Overview
- 9.24.2 Financial Data
- 9.24.3 Product Landscape
- 9.24.4 Strategic Outlook
- 9.24.5 SWOT Analysis
- 9.25 Upgrade, Inc.
- 9.25.1 Business Overview
- 9.25.2 Financial Data
- 9.25.3 Product Landscape
- 9.25.4 Strategic Outlook
- 9.25.5 SWOT Analysis