Neo and Challenger Bank Market

Neo and Challenger Bank are fintech based financial providers that provided services digitally, includes companies that applied for their own banking license (categorized as Challenger Banks). and companies that partnered with a traditional bank to provide those financial services (categorized as Neo banks). Specifically, a neo bank is a type of direct bank that is 100% digital and reaches customers on mobile apps and personal computer platforms only. In general, a neo-bank don?t have their own bank license ? they are an institution that provides checking, a prepaid debit card and some form of savings account without the traditional brick-and-mortar building. This usually includes features like mobile deposits, P2P payments, mobile budgeting tools and real-time digital receipts. Challenger banks are defined as fintech companies leveraging technology and software to digitize and streamline retail banking. Challengers use digital distribution channels, typically mobile, to offer competitive retail banking services such as current accounts, savings accounts, loans, insurance, and credit cards. While neo-banks offer a mobile-first banking experience in partnership with a traditional bank, challenger banks aim at becoming fully-licensed banks, creating new data-driven banking experiences and pricing models.
Neo and Challenger Bank Market aims to provide a comprehensive presentation of the global market for Neo and Challenger Bank, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Neo and Challenger Bank. Neo and Challenger Bank Market contains market size and forecasts of Neo and Challenger Bank in global, including the following market information:
Global Neo and Challenger Bank Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Neo and Challenger Bank market was valued at US$ 7063.7 million in 2022 and is projected to reach US$ 37220 million by 2029, at a CAGR of 26.8% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The main Neo and Challenger Bank players include Atom Bank, Tandem Bank, N26, WeBank, MyBank, Starling Bank, etc. The top six Neo and Challenger Bank players account for approximately 24% of the total global market. Europe is the largest consumer market for Neo and Challenger Bank, followed by North America and Asia-Pacific. And in terms of Applications, the largest segment is Business, followed by Personal.
We surveyed the Neo and Challenger Bank companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Neo and Challenger Bank Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Neo and Challenger Bank Market Segment Percentages, by Type, 2022 (%)
Neobanks
Challenger Banks
Global Neo and Challenger Bank Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Neo and Challenger Bank Market Segment Percentages, by Application, 2022 (%)
Personal Consumers
Business Organizations
Global Neo and Challenger Bank Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Neo and Challenger Bank Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Neo and Challenger Bank revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Neo and Challenger Bank revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Atom Bank
Movencorp
Simple Finance Technology
Fidor Group
N26
Pockit
Ubank
Monzo Bank
MyBank (Alibaba Group)
Holvi Bank
WeBank (Tencent Holdings Limited)
Hello Bank
Koho Bank
Rocket Bank
Soon Banque
Digibank
Timo
Jibun
Jenius
K Bank
Kakao Bank
Starling Bank
Tandem Bank
Outline of Major Chapters:
Chapter 1: Introduces the definition of Neo and Challenger Bank, market overview.
Chapter 2: Global Neo and Challenger Bank market size in revenue.
Chapter 3: Detailed analysis of Neo and Challenger Bank company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Neo and Challenger Bank in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.