0
2020
Neo And Challenger Bank Market

Neo and Challenger Bank Market

by Service Type (Loans, Mobile Banking, Checking & Savings Account, Payment & Money Transfer, and Others) and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A01469
Pages: 200
Apr 2020 | 36504 Views
Author(s) : Aarti G, Pramod B, Vineet K
Tables: 92
Charts: 37
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Neo And Challenger Bank Market

Request Now !

Neobank are digital-only banks without any physical branches and operates on a partnered bank license in the market. These banks provide digital and mobile-first financial payment solutions, remittances & money transfers services, lending, checking & saving account, insurance, and mortgages completely via mobile applications. In addition, neobanks also provide value-added services such as automated accounting, expenses management, and payroll, especially to growing small & medium enterprises. 

Neo-and-Challenger-Bank-Market-2020-2027

Challenger banks are established firms and operate with a full banking license in the market. These banks provide services such as lending, investments & savings accounts, checking & merchant accounts, mobile banking, credit cards, mobile banking, and others (retirement savings, insurance products, and buying & selling of cryptocurrency). These banks are continuously challenging over existing traditional banks, by innovating & integrating several technologies in their product offerings. 

Together, neo and challenger banks have entered in the banking industry with advance features, real-time services and client-centric products & services posing challengesforthe existing traditional banks in the market. 

Higher interest rates offered to customers over traditional banks, government & regulatory supports toward banking operations, and better convenience provided via mobile applications are major driving factors of the market. However, acquiring customers online and profitability for these start-up banks limit the market growth. Moreover, the neo and challenger bank market is expected to have lucrative opportunities such as to expand their business by strengthening online offerings to unbanked population in the emerging economies. In addition, business expansion, development of existing banking portfolio, bundling the product offerings and provide customized solutions are remaining some other focus areas for these Fintech banks in the upcoming years.

Neo and Challenger Bank Market
By Service Type

Your browser does not support the canvas element.

Loans are projected as one of the most lucrative segments.

Get more information on this report : Request Sample Pages

The neo and challenger bank market is segmented on the basis of service type, end user, and region. In terms of service type, it is classified into loans, mobile banking, checking & savings account, payment & money transfer, and others.  By end user, it is bifurcated into business and personal. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Neo and Challenger Bank Market
By End User

Your browser does not support the canvas element.

Business is projected as one of the most lucrative segments.

Get more information on this report : Request Sample Pages

The key players profiled in the global neo and challenger bank market analysis are Atom Bank plc, Fidor Solutions AG, Monzo Bank Limited, Movencorp, Inc., MYbank, Number26 GmbH, Simple Finance Technology Corporation, Tandem Bank, UBank limited, and WeBank. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key benefits for stakeholders 

  • The study provides an in-depth analysis of the global neo and challenger bank market along with the current & future trends to elucidate the imminent investment pockets.

  • Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.

  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

  • The quantitative analysis of the global neo and challenger bank market from 2020 to 2027 is provided to determine the market potential.

Neo and Challenger Bank Market Report Highlights

Aspects Details
By Service Type
  • Loans
  • Mobile Banking
  • Checking & Savings Account
  • Payment & Money Transfer
  • Others
By End User
  • Business
  • Personal
By Region
  • North America  (US, Canada)
  • Europe  (UK, Germany, France, Italy, Spain, Netherlands, Nordic Countries, .Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Australia, Singapore, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Atom Bank plc, Fidor Solutions AG, Monzo Bank Limited, Movencorp Inc., MYbank, Number26 GmbH, Simple Finance Technology Corporation, Tandem Bank, UBank Limited, WeBank
 

Loading Table Of Content...


 
 

The neo and challenger bank market is at its nascent stage, however, it haswitnessed a steady growth since its inception in the banking industry. Neo and challenger banks started a concept to disrupt the financial services industry and restore confidence of customerspost financial crisis, thus providing required financial capital to the underbanked consumers and underserved small & medium-sized enterprises(SMEs) globally. Banking regulators and other financial authorities have a favorable stance on approvals for neo and challengerbanks in the market. The market has observed an influx of digital neo and challenger banks, addressing consumer needs & demand for virtual banking offerings. The proliferation of FinTech startups are higher in Europe compared to the U.S., owingto hassle-free regulations and policies. These digital challengers offer services such ascurrent account, savings account, and mortgages via web or mobile interface, thus reducing their costs (labor and administration), which are then passed on to end consumers. With increase in number of neo and challenger banks in the market, lenders have become ambitious to meet the demand of end users. To achieve these targets, lenders need tocompete on rate or loosen criteria, making it easier for businesses to borrow funds in the market. However,many traditional banks are still not prepared for the same, thus the neo and challenger banks market is expected to grow during the forecast period. 

The neo and challenger bankmarket is consolidated with the presence of key vendors such as Atom Bank plc, Monzo Bank Limited, and Number26 GmbH. Europe dominated the neo and challenger bank market in 2019,and is expected to maintain this trend during the forecast period. However, Asia-Pacific is expected to exhibit fastest growth in the near future,owing to emerging economies such as Australia, Hong Kong, China, India, Singapore, and South Korea.Some of the key players profiled in the report include Fidor Solutions AG, Movencorp, Inc., MYbank, Simple Finance Technology Corporation, Tandem Bank, UBank limited, and WeBank. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. The market share is 50.6% from 2016 to 2020.

A. Convenience offerings of banking services to businesses and better interest rates over traditonal banks, approvals and granting of banking licenses by financial authorities are driving the neo and challenger bank market growth.

A. To get the latest version of Neo and Challenger Bank Market Report.

A. The potential customers of neo and challenger bank market are individuals, corporates, businesses, and others.

A. Atom Bank Plc, Movencorp Inc., Simple Finance Technology Corporation , Fidor Bank AG, and Number26 GmbHare the leading players in neo and challenger bank market.

A. On the basis of top growing big corporations, we select top 10 players.

A. Europe and Asia-Pacific will provide more business opportunities for neo and challenger bank market in future.

A. The key growth strategies of neo and challenger bank market players are partnership, product launch, and aquisition.

A. The neo and challenger bank market is expected to reach $50.2 million by 2020

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Neo And Challenger Bank Market

Start reading instantly.
This Report and over 19,651+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Apr 2021 - Apr 2022)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2021 - Apr 2022)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2021 - Apr 2022)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2021 - Apr 2022)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Apr 2021 - Apr 2022)
  • Library
    Membership

  • $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers