Rapid Urbanization, Adoption of Cashless Society, and Emergence of Fintech will drive the growth of India Neo banking Industry at a CAGR of 9% during 2022-27: Ken Research

  • Due to increasing digital penetration and urbanization, Neo banks will be preferred over Traditional Banks in the next five years.
  • Traditional Banks will face a threat to the Neo banking industry in the future due to the growing adoption of digital and cashless systems.

Rapid Urbanization: Increasing income of people along with growing standards of living in urban areas will propel usage of new consumer banking products and services, leading to increased demand for modern products specially. Movement of new generation and female workers to urban region is going to drive the demand over the recent years.

Adoption of Fin-tech: The COVID pandemic has led to highest fin-tech adoption rate in the country with the ever-growing transformation in BFSI at a rapid pace towards fin-tech products and services that bodes well for the Neo Banking Industry and its future. Banks and merchants are looking to collaborate with Neo Banking platforms to increase their market share and presence in the industry. The service range offered by Neo Banks are not available with the traditional banks, thus primed for massive growth going forward.

Increasing support: Introduction of United Payment Interface by government enabling multiple bank accounts payment from single application gave huge boost for the digital banking industry. There is high adoption of online payment service in the country, with continuously growing penetration in the digital banking space in the future. Neo Banks will serve as a major arm towards the growth of digitalization in the country with unique saving and investment features with the aim of financial inclusion towards different sections of the society, including but not limited to women, teenagers, gig economy, small entities, and more.

The publication titled Indian Neo Banking Industry Outlook to 2027: Driven by adoption of Driven by adoption of contactless payments, Shifting Consumer Preferences towards Fin-Tech, Rising Market Players and digitalizationprovides a comprehensive analysis of the Neo Banking industry in India. The report covers various aspects including Neo Banking industry market size on the basis of revenue, market overview, genesis of the market, Neo Banking industry Cycle, overview of Neo Banking services/ Products, ecosystem of entities in the Indian Neo Banking industry, consumption expenditure and borrowing trends, value chain analysis of Neo Bankings, growth drivers, role of Government and challenges, major trends and developments, SWOT Analysis, Porter analysis, Investment analysis and segmentation in the industry, timeline of Neo Banking industry growth, Risk Involved and COVID impact to the industry. Total addressable market, serviceable addressable market and serviceable obtainable market has been covered in the report. Insights on competitive landscape of Neo Banking industry including company profile of major Neo Banking players operating in the ecosystem has been covered. Further the report also focuses on the Indian Neo Banking Market Segmentation by type of users, by region, by type of application, by age group of users. The report concludes with projections for the future of the industry including forecasted industry size by revenue by 2027, and analysts’ take on the future highlighting the major opportunities.

Key Segments Covered in Indian Neo banking Industry:-

Indian Neo banking Market

By Type of Accounts



By Region of Operation





By Type of Application




By Age of Users

Less than 20

Between 20-40

More than 40

Overview of India Neo banking Industry

Cross Comparison of Indian Neo banking Industry Players

Value Chain Analysis of Neo Banks

Investment Analysis in Neo Banking companies

Neo Banking Industry Analysis

Key Target Audience

Neo Banking Players

Credit Based Neo Banks

Payment Gateway Banks

Banking Institutions Payment System Operators

Associated or affiliated Banks with Neo Banks

Regulatory Bodies for Neo banking Players


Various Card holder providers

New Entrants in Neo banking Space

Potential Neo banking Users

Time Period Captured in the Report:-

Historical Period: FY’2017-FY’2021

Forecast Period: FY’2022-FY’2027F

Indian Neo banking Industry Players/Ecosystem

Neo Banks




EscrowPay Neobank


Avail Finance


Fi Money



Karbon Card





Mahila Money

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Payment Gateways

PayU Money

CC Avenue






Key Topics Covered in the Report:-

Overview and Genesis of Indian Neo Banking Market

India Neo Banking Industry Cycle

Overview of Neo Banking Services/ Products

Consumption Expenditure and Borrowing Trends

Socio-Demographic Outlook of India

India Neo Banking Industry Introduction

Ecosystem of Entities in the Indian Neo Banking Industry

Value Chain Analysis of Neo Banking

India Neo Banking Market Sizing on the basis of Revenue and Number of players in the Neo Banking Industry

India Neo Banking Market Segmentation (By Type of Accounts, By Region of Operation, By Type Application and By Age Group of Users).

Cross Comparison of Major Players in Neo Banking Industry

Trends and Developments

Growth Drivers of the Indian Neo Banking Industry

Issues and Challenges in the Indian Neo-Banking Industry

Role of Government and Regulations in the Indian Neo-Banking Industry

Risk Involved and COVID Impact in Business Operations

Porter’s five forces Analysis of the Indian Neo-Banking Industry

SWOT Analysis of the Indian Neo-Banking Industry

Investment Analysis of the Indian Neo Banking Industry

Investment Timeline of the Indian Neo Banking Industry

Investment Segmentation basis of type of Investment, Type of Investor

Increase in number of Neo Banking start-ups

Future Outlook and Projection for Market Sizing

Future Outlook and Projection for Market Segmentation

Computation of Addressable Market

Growth of Digital Lending

Company profile of major Neo Banks’s players operating in the ecosystem (Company Overview, About the Company, Revenue Model, Funding and Investors, Key Features, Fee Structure, Product Offered, Strengths, Recent Developments, Key Takeaways and Financials)

Industry Speaks

Research Methodology

For More Information on the research report, refer to below link:-

Indian Neo Banking Industry

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Asia Neo Banking Market Outlook to 2025 – By Commercial and Personal Neo Banking; By Transactions at ATM and POS Terminals; by Total Cards in Circulation; Transaction Value and Volume through Issuers and Operators; and by Countries (Japan, South Korea, India, China, Indonesia, Philippines, Singapore and Others

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