Neobanking refers to digital-only banks that conduct their business mostly online and through mobile devices rather than physical locations. Typical financial services that neobanks provide include checking and savings accounts, debit and credit cards, and money transfer services. As more customers move their banking operations online and search for easy and affordable banking choices, the market for neobanking is expanding. By product, application, and geography, the market is divided. Monzo, N26, Revolut, Chime, and Varo Money are important market participants. In the upcoming years, the market is anticipated to expand considerably as a result of developments such as the introduction of open banking, rising demand for financial services among underbanked populations, and increased acceptance of mobile banking.
The study offers up-to-date, comprehensive data on the Neobanking market. The most recent analysis from Fact.MR includes historical information, market projections, and details on how the sector is doing right now in several countries. Additionally, the report includes information on the Neobanking Market’s sales and demand across numerous industries and nations.
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Key Segments Covered in the Neobanking Industry Report
- By Account Type
- Neobanking for Business Accounts
- Neobanking for Savings Account
- By Application
- Neobanking for Personal Use
- Neobanking for Enterprises
- Neobanking for Other Applications
Key Companies Profiled
- Atom Bank PLC
- Ubank Limited
- Simple Finance Technology Corp.
- Fidor Bank Ag
- Movencorp Inc.
- Monzo Bank Ltd.
- Revolut Ltd.
- Webank, Inc.
Key Takeaways from the Market Study
- By account type, business account expected to gain more than 50% market share for neobanking market.
- By application, enterprises expected to hold more than 40% market share for neobanking market.
- Neobanking industry expected to possess nearly 30% market share throughout Europe.
- Neobanking industry expected to possess nearly 25% market share throughout Asia Pacific.
- Global neobanking market expected to be valued at US$ 67 Bn by the end of 2022
Key Question answered in the survey of Neobanking market report:
- Sales and Demand of Neobanking
- Growth of Neobanking Market
- Market Analysis of Neobanking
- Market Insights of Neobanking
- Key Drivers Impacting the Neobanking market
- Which are the Key drivers impacted by Neobanking market
- Restraints Neobanking Market Growth
- Market Survey of Neobanking
More Valuable Insights on Neobanking Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Neobanking, Sales and Demand of Neobanking, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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