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PUBLISHER: The Business Research Company | PRODUCT CODE: 1249032

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PUBLISHER: The Business Research Company | PRODUCT CODE: 1249032

Neobanking Global Market Report 2023

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PAGES: 200 Pages
DELIVERY TIME: 2-10 business days
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“Neobanking Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on neobanking market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for neobanking? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The neobanking market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Account Type: Business Account; Savings Account

2) By Service: Mobile Banking; Payments And Money Transfer; Checking/Savings Account; Loans; Other Services

3) By Application: Enterprises; Personal; Other Application

Companies Mentioned: Revolut Ltd.; Simple Finance Technology Corp.; Ubank Limited; Webank, Inc.,; Tangerine Bank

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the neobanking market are: Revolut Ltd., Simple Finance Technology Corp., Ubank Limited, Webank, Inc., Tangerine Bank, Chime Financial, Inc., Dave, Inc., Neo Financial Technologies Inc., Nubank S.A., OakNorth, Orange Bank, Tinkoff Bank, Upgrade, Inc., Monzo and Monese.

The global neobanking market grew from $79.1 billion in 2022 to $118.51 billion in 2023 at a compound annual growth rate (CAGR) of 49.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neobanking market is expected to grow to $556.66 billion in 2027 at a CAGR of 47.2%.

The neobanking market includes revenues earned by entities by a full stack neobank or a front-end focused neobank. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The neobanking refer to digital banks with no physical locations that provide a broad range of financial services to target tech-savvy clients primarily. Neobanking offers services including payments, debit cards, money transfers, lending, and more that are mostly digital and mobile in nature.

Western Europe was the largest region in the neobanking market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neobanking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of business accounts of neobanking market include business account, savings account. Business account refers to neobanking services used by business account holders to manage money, bulk pay-outs, credits, detailed account insights, and international transfers. Mobile banking, payments & money transfer, checking/savings account, loans and others are services offered in neobanking. These are applied byenterprises, personal, others.

The growing demand for digitalization among banking institutions across the globe is contributing to the growth of the neobanking market. Digital banking describes the digitalization of all banking procedures and the substitution of the bank's physical location with a continual online presence, which eliminates the need for consumers to visit a branch. Traditional financial services are being automated by digital banking. Customers of a bank can access banking services and products online or through an electronic platform thanks to digital banking. Neobanking aids in digitizing banks by enabling financial organizations to do business online without physical locations and offering digital versions of all banking services. Neobanks provide highly personalized services at lower prices by utilizing technology such as artificial intelligence (AI), automation, and cloud computing. In 2021, according to a survey conducted by McKinsey and Company, between 2017 and 2021, the fraction of customers in Asia-Pacific developing countries actively utilizing digital banking expanded rapidly, rising from 54 % in 2017 to 88% in 2021. Thus, the growing demand for digitalization in the banking sector is expected to propel the neobanking market.

Technological Advancement is a key trend propelling the neobanking market. Artificial intelligence is used in neobanking services and solutions to improve efficiency. AI can provide consumers with highly personalized solutions and logical reminders and notifications that will help them save money and enjoy more ease. It helps in credit decisions, risk management, trading and personalized services. In March 2021, DigiBankASIA, a Singapore-based financial services company, entered into a partnership with Xebia to launch Asia's digital Bank, UnoBank. Combining top banking products to provide a distinctive and cutting-edge digital foundation, Xebia will be UNO's digital and innovative technology partner in building Cognito, UNO's digital-first platform. It is ideally positioned to construct a cutting-edge and intelligent CX platform for UNObank due to its experience in technologies like Al/ML, IoT, AR/VR, Cloud, DevOps, Big Data & Analytics. Xebia is a US-based IT consultancy company.

In December 2021, Open, an India-based neobank that combines banking, payments, accounting, expense management & taxes in one place, acquired Finin for $10 million. The acquisition improves Open's cloud native BankingStack financial OS and gives banks and other financial institutions the means to introduce and expand their digital banking services to both individuals and enterprises. Along with providing salary accounts for employees and an integrated payroll module, the acquisition will enable SMEs using the Open SME neo-banking platform to expand. Finin is an India-based neobanking platform that makes it easier, quicker, and smarter to manage, save, and invest your money.

The countries covered in the neobanking market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The neobanking market research report is one of a series of new reports from The Business Research Company that provides neobanking market statistics, including Feed yeast industry global market size, regional shares, competitors with a neobanking market share, detailed neobanking market segments, market trends and opportunities, and any further data you may need to thrive in the neobanking industry. These neobanking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Product Code: r3995

Table of Contents

1. Executive Summary

2. Neobanking Market Characteristics

3. Neobanking Market Trends And Strategies

4. Neobanking Market - Macro Economic Scenario

  • 4.1. COVID-19 Impact On Neobanking Market
  • 4.2. Ukraine-Russia War Impact On Neobanking Market
  • 4.3. Impact Of High Inflation On Neobanking Market

5. Neobanking Market Size And Growth

  • 5.1. Global Neobanking Historic Market, 2017-2022, $ Billion
    • 5.1.1. Drivers Of The Market
    • 5.1.2. Restraints On The Market
  • 5.2. Global Neobanking Forecast Market, 2022-2027F, 2032F, $ Billion
    • 5.2.1. Drivers Of The Market
    • 5.2.2. Restraints On the Market

6. Neobanking Market Segmentation

  • 6.1. Global Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Business Account
  • Savings Account
  • 6.2. Global Neobanking Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Mobile Banking
  • Payments And Money Transfer
  • Checking/Savings Account
  • Loans
  • Other Services
  • 6.3. Global Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Enterprises
  • Personal
  • Others

7. Neobanking Market Regional And Country Analysis

  • 7.1. Global Neobanking Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 7.2. Global Neobanking Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Neobanking Market

  • 8.1. Asia-Pacific Neobanking Market Overview
  • Region Information, Impact Of COVID_19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
  • 8.2. Asia-Pacific Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 8.3. Asia-Pacific Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Neobanking Market

  • 9.1. China Neobanking Market Overview
  • 9.2. China Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
  • 9.3. China Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Neobanking Market

  • 10.1. India Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 10.2. India Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Neobanking Market

  • 11.1. Japan Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 11.2. Japan Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Neobanking Market

  • 12.1. Australia Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 12.2. Australia Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Neobanking Market

  • 13.1. Indonesia Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 13.2. Indonesia Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Neobanking Market

  • 14.1. South Korea Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 14.2. South Korea Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Neobanking Market

  • 15.1. Western Europe Neobanking Market Overview
  • 15.2. Western Europe Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 15.3. Western Europe Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Neobanking Market

  • 16.1. UK Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 16.2. UK Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Neobanking Market

  • 17.1. Germany Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 17.2. Germany Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Neobanking Market

  • 18.1. France Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 18.2. France Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Neobanking Market

  • 19.1. Eastern Europe Neobanking Market Overview
  • 19.2. Eastern Europe Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 19.3. Eastern Europe Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Neobanking Market

  • 20.1. Russia Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 20.2. Russia Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Neobanking Market

  • 21.1. North America Neobanking Market Overview
  • 21.2. North America Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 21.3. North America Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Neobanking Market

  • 22.1. USA Neobanking Market Overview
  • 22.2. USA Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 22.3. USA Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Neobanking Market

  • 23.1. South America Neobanking Market Overview
  • 23.2. South America Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 23.3. South America Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Neobanking Market

  • 24.1. Brazil Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 24.2. Brazil Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Neobanking Market

  • 25.1. Middle East Neobanking Market Overview
  • 25.2. Middle East Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 25.3. Middle East Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Neobanking Market

  • 26.1. Africa Neobanking Market Overview
  • 26.2. Africa Neobanking Market, Segmentation By Account Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • 26.3. Africa Neobanking Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Neobanking Market Competitive Landscape And Company Profiles

  • 27.1. Neobanking Market Competitive Landscape
  • 27.2. Neobanking Market Company Profiles
    • 27.2.1. Revolut Ltd.
      • 27.2.1.1. Overview
      • 27.2.1.2. Products and Services
      • 27.2.1.3. Strategy
      • 27.2.1.4. Financial Performance
    • 27.2.2. Simple Finance Technology Corp.
      • 27.2.2.1. Overview
      • 27.2.2.2. Products and Services
      • 27.2.2.3. Strategy
      • 27.2.2.4. Financial Performance
    • 27.2.3. Ubank Limited
      • 27.2.3.1. Overview
      • 27.2.3.2. Products and Services
      • 27.2.3.3. Strategy
      • 27.2.3.4. Financial Performance
    • 27.2.4. Webank, Inc.,
      • 27.2.4.1. Overview
      • 27.2.4.2. Products and Services
      • 27.2.4.3. Strategy
      • 27.2.4.4. Financial Performance
    • 27.2.5. Tangerine Bank
      • 27.2.5.1. Overview
      • 27.2.5.2. Products and Services
      • 27.2.5.3. Strategy
      • 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Neobanking Market

29. Neobanking Market Future Outlook and Potential Analysis

30. Appendix

  • 30.1. Abbreviations
  • 30.2. Currencies
  • 30.3. Historic And Forecast Inflation Rates
  • 30.4. Research Inquiries
  • 30.5. The Business Research Company
  • 30.6. Copyright And Disclaimer
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