Summary – A new market study, “Global Neobanking Market Size, Status and Forecast 2020-2026”has been featured on WiseGuyReports.
In 2018, the global Neobanking market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025.
This report focuses on the global Neobanking status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neobanking development in United States, Europe and China.
The key players covered in this study
Bank of America Corp
Guta
SKB
Toscana
Deutsche
Citigroup
HSBC Holdings
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Central & South America
The study objectives of this report are:
To analyze global Neobanking status, future forecast, growth opportunity, key market and key players.
To present the Neobanking development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Neobanking are as follows
The study objectives of this report are:
To analyze global Neobanking status, future forecast, growth opportunity, key market and key players.
To present the Neobanking development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Neobanking are as follows
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
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Convenience & flexibility, higher interest rates offered as compared to traditional banks, and favorable regulatory scenario drive the growth of the global neo and challenger bank market.
However, challenges related to profitability for digital banks hinder the market growth.
On the other hand, rise in penetration of internet and smartphones along with untapped potential in developing nations create new opportunities in the coming years.According to the report published by Allied Market Research, the global neo and challenger bank market generated $20.4 billion in 2019, and is estimated to reach $471.0 billion by 2027, registering a CAGR of 48.1% from 2020 to 2027.
The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.Covid-19 scenario:During the coronavirus pandemic, the revenue generated from interchange fees for neo and challenger banks will be reduced for few months, however, will rebound quickly.Depositors who seek more safety during the economic turbulence do no favor neo banks, and been transferring their deposits to traditional and major banks, according to the Federal Reserve.Neo and challenger banks have been rolling out contactless cards to curb the transmission of coronavirus.The report offers a detailed segmentation of the global neo and challenger bank market based on service type, end user, and region.
Based on service type, the loans segment contributed to the largest share in 2019, accounting for nearly one-third of the total share, and is estimated to maintain its dominant position during the forecast period.
However, the payment & money transfer segment is expected to register the highest CAGR of 49.7% from 2020 to 2027.Read Full Article: https://www.alliedmarketresearch.com/neo-and-challenger-bank-market Based on end user, the business segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period.
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Best neobank in India with alots of services
