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Neo and Challenger Bank Market Segments: By Type (Neo Banks And Challenger Banks); By Application (Personal and Enterprises Sector) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

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Details

Product Overview

Neobanks is a new kind in the financial world. They are a type of direct bank that is completely online with no physical branches which provide complete banking solutions to its customers. Neobanking offers everything a traditional bank has to offer from opening a bank account to money lending, money transfers, and much more. There are two kinds of Neobanks, first which have no banking license and partner up with a traditional bank such as Up bank in Australia which is partnered with Bendigo Bank, and second are neobanks with a full banking license of their own such as Xinja and Volt. Challenger banks are well-established businesses that have a full banking license to operate in the market. Lending, deposits & savings accounts, checking & merchant accounts, telephone banking, credit cards, mobile banking, and other services are provided by these banks. By innovating and incorporating several innovations into their product offerings, these banks are constantly challenging established conventional banks.

Market Highlights

Global Neo and Challenger Bank Market is expected to project a notable CAGR of 49.9% in 2030.

Global Neo and Challenger Bank Market to surpass USD XXX million by 2030 from USD XXX million in 2020 at a CAGR of 49.9% in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Neo and Challenger Bank. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Neo and Challenger Bank industry.

Global Neo and Challenger Bank Market: Segments

Challenger Bank segment to grow with the highest CAGR during 2020-30

Global Neo and Challenger Bank Market is segmented by type into neo banks and challenger banks. Challenge Bank segment held the largest market share in the year 2020. Challenger banks are banks that are small retail banks for the purpose of competing for business against the bigger nationalized banks. It is divided into the business account and savings account. The business account had the largest market share due to its wide range of management services such as credit management, asset management. It dominated the global market in 2020 in terms of revenue share. This segment is also expected to register a high CAGR in the forecast period. The growth factors for the neo banking industry are their cost-effective and convenience, though the authenticity as well as financial security factors is expected to bring disturbances in its path.

Enterprise sector segment to grow with the highest CAGR during 2020-30

Global Neo and Challenger Bank Market is segmented by application into the personal and enterprises sector. Over the forecast period, the enterprise application is projected to expand at the fastest pace. Enterprises are adopting into this neo banking market as they facilitate better management of payments and all other online services while the personal application segment is anticipated to register the highest CAGR in the future.

Neo and Challenger Bank Market Dynamics

Drivers

Advanced features and higher interest rates over conventional banks

Neo and challenger banks Market have combined to enter the banking industry with advanced features, real-time applications, and client-centric products and services, presenting a threat to the market's established conventional banks. The market is being driven by higher interest rates offered to consumers over conventional banks, government and regulatory support for banking operations, and better convenience provided by mobile apps.

Opportunities for expansion and product offerings

The neo and challenger bank Market segment is expected to deliver lucrative opportunities for expansion, such as strengthening online services to the unbanked population in emerging economies. In addition, these Fintech banks will continue to concentrate on expanding their established banking portfolios, expanding their market, bundling product offerings, and providing personalized solutions in the coming years.

Restraint

Limited everyday transactions

The range of banking products on offer from neobanks and challenger banks are limited to everyday transaction and savings accounts which are expected to act as a restraint in the neo banking market.

Global Neo and Challenger Bank Market: Key Players

  • Atoms

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • Simple
  • MyBank
  • Monzo
  • WeBank
  • Tandem
  • Fidor bank
  • Deutsche
  • Agricultural Bank of china
  • Other prominent players

Global Neo and Challenger Bank Market: Regions

Global Neo and Challenger Bank Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Neo and Challenger Bank in Europe held the largest market share of XX.X% in the year 2020 in terms of revenue. Europe held a maximum share of around 48% of the global neo banking market due to the emergence of multiple technology startups and early adoption technology. Latin America is likely to dominate the European market in the near future. The APAC neo banking market is projected to grow over the forecast period due to the increasing investments in the fintech sector.Asia is seen, in addition to Europe and Latin America, as one of the world’s major regions that show an upcoming growth in this sector.

Global Neo and Challenger Bank Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Neo and Challenger Bank Market report also contains analysis on:

Neo and Challenger Bank Market Segments:

  • By Type:
    • Neo banks
    • Challenger banks
  • By Application type:
    • Personal sector
    • Enterprise sector
  • Neo and Challenger Bank Dynamics
  • Neo and Challenger Bank Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints
READ MORE

Table Of Content

Scope

Contents          

  1. Executive Summary
  2. Global Neo and Challenger Bank Market
    1. Product Overview
    2. Market Definition
    3. Segmentation
    4. Assumptions and Acronyms
  3. Research Methodology
    1. Research Objectives
    2. Primary Research
    3. Secondary Research
    4. Forecast Model
    5. Market Size Estimation
  4. Average Pricing Analysis
  5. Macro-Economic Indicators
  6. Market Dynamics
    1. Growth Drivers
    2. Restraints
    3. Opportunity
    4. Trends
  7. Correlation & Regression Analysis
    1. Correlation Matrix
    2. Regression Matrix
  8. Recent Development, Policies & Regulatory Landscape
  9. Risk Analysis
    1. Demand Risk Analysis
    2. Supply Risk Analysis
  10. Global Neo and Challenger Bank Market Analysis
    1. Porters Five Forces
      1. Threat of New Entrants
      2. Bargaining Power of Suppliers
      3. Threat of Substitutes
      4. Rivalry
    2. PEST Analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
  11. Global Neo and Challenger Bank Market
    1. Market Size & forecast, 2020A-2030F
      1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
  12. Global Neo and Challenger Bank Market: Market Segmentation
    1. By Regions
      1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
    2. By type: Market Share (2020-2030F)
      1. Neo Banks, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Challenger Banks, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
    3. By Application Type: Market Share (2020-2030F)
      1. Personal sector, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Enterprise sector, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile    

  1. Atoms
    1. Company Overview
    2. Company Total Revenue (Financials)
    3. Market Potential
    4. Global Presence
    5. Key Performance Indicators
    6. SWOT Analysis
    7. Product Launch
  2. Simple
  3. MyBank
  4. Monzo
  5. WeBank
  6. Tandem
  7. Fidor bank
  8. Deutsche
  9. Agricultural Bank of china
  10. Other prominent players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Licence Rights

  • Single User License:

    Access to the soft copy of the report will be granted to individual user/ Authorized User within the organization. The Authorized User may store, display or archive the information but will not be able to print, copy and use any information in the report for circulation or citation purpose. The individual user will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete/part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view. The report will be MAC address protected and will only be accessible on 1 platform.

  •  
  • Hard Copy License:

    The license provides the access to hard copy/ printed copy of the report to the Authorized User only. The report will be delivered to the user on the address provided during making the purchase. The Authorized User may store, display, or archive the information but will not use any information in the report for circulation or citation purpose. The individual user will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view. No soft copy access will be provided in this case.

  •  
  • Corporate User License:

    Access to the soft copy of the report will be granted to multiple users within the organization. The users are authorized to store, display, duplicate, archive, print and distribute the information within the organization either electronically or in paper. The users are not authorized to use any information in the report for citation and circulation externally. The users will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view.

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Company Profile

Company Profile Title

Product Overview

Neobanks is a new kind in the financial world. They are a type of direct bank that is completely online with no physical branches which provide complete banking solutions to its customers. Neobanking offers everything a traditional bank has to offer from opening a bank account to money lending, money transfers, and much more. There are two kinds of Neobanks, first which have no banking license and partner up with a traditional bank such as Up bank in Australia which is partnered with Bendigo Bank, and second are neobanks with a full banking license of their own such as Xinja and Volt. Challenger banks are well-established businesses that have a full banking license to operate in the market. Lending, deposits & savings accounts, checking & merchant accounts, telephone banking, credit cards, mobile banking, and other services are provided by these banks. By innovating and incorporating several innovations into their product offerings, these banks are constantly challenging established conventional banks.

Market Highlights

Global Neo and Challenger Bank Market is expected to project a notable CAGR of 49.9% in 2030.

Global Neo and Challenger Bank Market to surpass USD XXX million by 2030 from USD XXX million in 2020 at a CAGR of 49.9% in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Neo and Challenger Bank. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Neo and Challenger Bank industry.

Global Neo and Challenger Bank Market: Segments

Challenger Bank segment to grow with the highest CAGR during 2020-30

Global Neo and Challenger Bank Market is segmented by type into neo banks and challenger banks. Challenge Bank segment held the largest market share in the year 2020. Challenger banks are banks that are small retail banks for the purpose of competing for business against the bigger nationalized banks. It is divided into the business account and savings account. The business account had the largest market share due to its wide range of management services such as credit management, asset management. It dominated the global market in 2020 in terms of revenue share. This segment is also expected to register a high CAGR in the forecast period. The growth factors for the neo banking industry are their cost-effective and convenience, though the authenticity as well as financial security factors is expected to bring disturbances in its path.

Enterprise sector segment to grow with the highest CAGR during 2020-30

Global Neo and Challenger Bank Market is segmented by application into the personal and enterprises sector. Over the forecast period, the enterprise application is projected to expand at the fastest pace. Enterprises are adopting into this neo banking market as they facilitate better management of payments and all other online services while the personal application segment is anticipated to register the highest CAGR in the future.

Neo and Challenger Bank Market Dynamics

Drivers

Advanced features and higher interest rates over conventional banks

Neo and challenger banks Market have combined to enter the banking industry with advanced features, real-time applications, and client-centric products and services, presenting a threat to the market's established conventional banks. The market is being driven by higher interest rates offered to consumers over conventional banks, government and regulatory support for banking operations, and better convenience provided by mobile apps.

Opportunities for expansion and product offerings

The neo and challenger bank Market segment is expected to deliver lucrative opportunities for expansion, such as strengthening online services to the unbanked population in emerging economies. In addition, these Fintech banks will continue to concentrate on expanding their established banking portfolios, expanding their market, bundling product offerings, and providing personalized solutions in the coming years.

Restraint

Limited everyday transactions

The range of banking products on offer from neobanks and challenger banks are limited to everyday transaction and savings accounts which are expected to act as a restraint in the neo banking market.

Global Neo and Challenger Bank Market: Key Players

  • Atoms

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • Simple
  • MyBank
  • Monzo
  • WeBank
  • Tandem
  • Fidor bank
  • Deutsche
  • Agricultural Bank of china
  • Other prominent players

Global Neo and Challenger Bank Market: Regions

Global Neo and Challenger Bank Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global Neo and Challenger Bank in Europe held the largest market share of XX.X% in the year 2020 in terms of revenue. Europe held a maximum share of around 48% of the global neo banking market due to the emergence of multiple technology startups and early adoption technology. Latin America is likely to dominate the European market in the near future. The APAC neo banking market is projected to grow over the forecast period due to the increasing investments in the fintech sector.Asia is seen, in addition to Europe and Latin America, as one of the world’s major regions that show an upcoming growth in this sector.

Global Neo and Challenger Bank Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Neo and Challenger Bank Market report also contains analysis on:

Neo and Challenger Bank Market Segments:

  • By Type:
    • Neo banks
    • Challenger banks
  • By Application type:
    • Personal sector
    • Enterprise sector
  • Neo and Challenger Bank Dynamics
  • Neo and Challenger Bank Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints
READ MORE

Scope

Contents          

  1. Executive Summary
  2. Global Neo and Challenger Bank Market
    1. Product Overview
    2. Market Definition
    3. Segmentation
    4. Assumptions and Acronyms
  3. Research Methodology
    1. Research Objectives
    2. Primary Research
    3. Secondary Research
    4. Forecast Model
    5. Market Size Estimation
  4. Average Pricing Analysis
  5. Macro-Economic Indicators
  6. Market Dynamics
    1. Growth Drivers
    2. Restraints
    3. Opportunity
    4. Trends
  7. Correlation & Regression Analysis
    1. Correlation Matrix
    2. Regression Matrix
  8. Recent Development, Policies & Regulatory Landscape
  9. Risk Analysis
    1. Demand Risk Analysis
    2. Supply Risk Analysis
  10. Global Neo and Challenger Bank Market Analysis
    1. Porters Five Forces
      1. Threat of New Entrants
      2. Bargaining Power of Suppliers
      3. Threat of Substitutes
      4. Rivalry
    2. PEST Analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
  11. Global Neo and Challenger Bank Market
    1. Market Size & forecast, 2020A-2030F
      1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
  12. Global Neo and Challenger Bank Market: Market Segmentation
    1. By Regions
      1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
    2. By type: Market Share (2020-2030F)
      1. Neo Banks, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Challenger Banks, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
    3. By Application Type: Market Share (2020-2030F)
      1. Personal sector, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
      2. Enterprise sector, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile    

  1. Atoms
    1. Company Overview
    2. Company Total Revenue (Financials)
    3. Market Potential
    4. Global Presence
    5. Key Performance Indicators
    6. SWOT Analysis
    7. Product Launch
  2. Simple
  3. MyBank
  4. Monzo
  5. WeBank
  6. Tandem
  7. Fidor bank
  8. Deutsche
  9. Agricultural Bank of china
  10. Other prominent players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

  • Single User License:

    Access to the soft copy of the report will be granted to individual user/ Authorized User within the organization. The Authorized User may store, display or archive the information but will not be able to print, copy and use any information in the report for circulation or citation purpose. The individual user will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete/part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view. The report will be MAC address protected and will only be accessible on 1 platform.

  •  
  • Hard Copy License:

    The license provides the access to hard copy/ printed copy of the report to the Authorized User only. The report will be delivered to the user on the address provided during making the purchase. The Authorized User may store, display, or archive the information but will not use any information in the report for circulation or citation purpose. The individual user will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view. No soft copy access will be provided in this case.

  •  
  • Corporate User License:

    Access to the soft copy of the report will be granted to multiple users within the organization. The users are authorized to store, display, duplicate, archive, print and distribute the information within the organization either electronically or in paper. The users are not authorized to use any information in the report for citation and circulation externally. The users will treat the information in the report as confidential and will only use this for internal purpose. In no circumstance, the complete / part of the publication may be resold for monetary terms by the client or any other party related to the client or can be made available on third party website or on Google for general public view.

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS