The emerging trend of neo and challenger banks offering their banking services through digital channels (online or mobile app banking) in Europe and U.S. is expected to boost the market growth.
Scope of the Report:This report studies the Neo and Challenger Bank market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Neo and Challenger Bank market by product type and applications/end industries.
Digital challenger banks are simplifying the financial world, creating a customer centric approach to services, and transforming the way banking is viewed by the public and the market. In return, they endeavor to deliver larger returns on equity as compared to those offered by prominent traditional banks. They strive to offer greater flexibility when it comes to lending through streamlined operations and costs.
Owing to favorable regulations, higher fintech adoption index, and rise in investments in these countries. The U.S. is expected to be the market leader during the forecast period. China and the UK are expected to witness higher growth rates on account of relaxations in regulatory requirements, high penetration of internet and smartphones, and large untapped consumer base in these countries.
Recent approvals of MYBank and WeBank by the Chinese authorities have provided opportunities to digital-only banks to expand their presence in China.
The global Neo and Challenger Bank market is valued at xx million USD in 2020 and is expected to reach xx million USD by the end of 2026, growing at a CAGR of xx% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Neo and Challenger Bank.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
Market Segment by Companies, this report covers Atom Bank
Movencorp
Simple Finance Technology
BPCE
N26
Pockit
Ubank
Monzo Bank
MyBank (Alibaba Group)
Holvi Bank
WeBank (Tencent Holdings Limited)
Hello BankÊ
Koho BankÊ
Rocket BankÊ
Soon Banque
Digibank
Timo
Jibun
Jenius
K Bank
Kakao Bank
Fidor Bank
Starling Bank
Tandem Bank
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Neo Bank
Challenger Bank
Market Segment by Applications, can be divided into PersonalÊ
Business
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
