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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Neobanking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global neobanking market is currently experiencing robust growth. Neobanking refers to a financial service that offers digital banking and a seamless customer experience through a mobile application. The application is generally implemented using 2-factor authorization (2FA), biometric verification, role-based access control (RBAC), encryption technology, and other security measures to protect customer data and prevent malware attacks. As it lacks physical branches, neobanking can integrate the entire financial portfolio into a single platform. Moreover, it offers hassle-free account creation, seamless international payments, a user-friendly interface, low operating costs, value-added services, and real-time transactions. As a result, it is gaining popularity over traditional banking services worldwide.

The integration of advanced technology into banking services for offering digital transactions and personalized services represents one of the key factors bolstering the global neobanking market growth. Additionally, a shift in consumer preferences from physical cash towards online banking and e-wallets, along with a rise in the number of mobile users, is contributing to the market growth. Apart from this, as neobanking uses decision-making models to collect data, analyze patterns and customer behavior, and generate predictions, its application is expanding across the globe to gain useful business insights. It also relies on chatbots and artificial intelligence (AI) for flexible, virtual, and online customer support. Moreover, the leading players are offering customized services based on user requirements to help manage their finances, expenses, and savings. This also saves manual efforts and makes the approval process transparent, automatic, and quick, which is anticipated to drive the adoption of neobanking for fast, economic, convenient, easy to operate, and customer-oriented banking services. Looking forward, IMARC Group expects the global neobanking market to grow at a CAGR of around 42% during the forecast period (2021-2026).

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global neobanking market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, account type and application.

Breakup by Account Type:

  • Business Account
  • Savings Account
     

Breakup by Application:

  • Enterprises
  • Personal
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Agricultural Bank of China Limited, Atom Bank PLC, Citigroup Inc., Deutsche Bank AG, Fidor Solutions AG (Groupe BPCE), HSBC Holdings Plc, Malayan Banking Berhad, Monzo Bank Limited, Movencorp Inc., N26 GmbH, Simple Finance Technology Corporation (BBVA USA), Ubank Limited and Webank Co. Ltd.

Key Questions Answered in This Report:

  • How has the global neobanking market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global neobanking market?
  • What are the key regional markets?
  • What is the breakup of the market based on the account type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global neobanking market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Neobanking Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Account Type
    6.1    Business Account
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Savings Account
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Application
    7.1    Enterprises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Personal
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Competitive Landscape
    12.1    Market Structure
    12.2    Key Players
    12.3    Profiles of Key Players
        12.3.1    Agricultural Bank of China Limited
           12.3.1.1 Company Overview
           12.3.1.2 Product Portfolio
           12.3.1.3 Financials
           12.3.1.4 SWOT Analysis
        12.3.2    Atom Bank PLC
           12.3.2.1 Company Overview
           12.3.2.2 Product Portfolio
           12.3.2.3 Financials
        12.3.3    Citigroup Inc.
           12.3.3.1 Company Overview
           12.3.3.2 Product Portfolio
           12.3.3.3 Financials
           12.3.3.4 SWOT Analysis
        12.3.4    Deutsche Bank AG
           12.3.4.1 Company Overview
           12.3.4.2 Product Portfolio
           12.3.4.3 Financials
           12.3.4.4 SWOT Analysis
        12.3.5    Fidor Solutions AG (Groupe BPCE)
           12.3.5.1 Company Overview
           12.3.5.2 Product Portfolio
        12.3.6    HSBC Holdings Plc
           12.3.6.1 Company Overview
           12.3.6.2 Product Portfolio
           12.3.6.3 Financials
           12.3.6.4 SWOT Analysis
        12.3.7    Malayan Banking Berhad
           12.3.7.1 Company Overview
           12.3.7.2 Product Portfolio
           12.3.7.3 Financials
        12.3.8    Monzo Bank Limited
           12.3.8.1 Company Overview
           12.3.8.2 Product Portfolio
           12.3.8.3 Financials
        12.3.9    Movencorp Inc.
           12.3.9.1 Company Overview
           12.3.9.2 Product Portfolio
        12.3.10    N26 GmbH
           12.3.10.1 Company Overview
           12.3.10.2 Product Portfolio
           12.3.10.3 Financials
        12.3.11    Simple Finance Technology Corporation (BBVA USA)
           12.3.11.1 Company Overview
           12.3.11.2 Product Portfolio
        12.3.12    Ubank Limited
           12.3.12.1 Company Overview
           12.3.12.2 Product Portfolio
        12.3.13    Webank Co. Ltd.
           12.3.13.1 Company Overview
           12.3.13.2 Product Portfolio

List of Figures

Figure 1: Global: Neobanking Market: Major Drivers and Challenges
Figure 2: Global: Neobanking Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Neobanking Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Neobanking Market: Breakup by Account Type (in %), 2020
Figure 5: Global: Neobanking Market: Breakup by Application (in %), 2020
Figure 6: Global: Neobanking Market: Breakup by Region (in %), 2020
Figure 7: Global: Neobanking (Business Account) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: Global: Neobanking (Business Account) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: Neobanking (Savings Account) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Neobanking (Savings Account) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Neobanking (Enterprises) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Neobanking (Enterprises) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Neobanking (Personal) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Neobanking (Personal) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Neobanking (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Neobanking (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: North America: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: North America: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: United States: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: United States: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Canada: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Canada: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Asia-Pacific: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Asia-Pacific: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: China: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: China: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Japan: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Japan: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: India: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: India: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: South Korea: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: South Korea: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Australia: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Australia: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Indonesia: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Indonesia: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Others: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Others: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Europe: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Europe: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Germany: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Germany: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: France: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: France: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: United Kingdom: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: United Kingdom: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Italy: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Italy: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Spain: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Spain: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Russia: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Russia: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Others: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Others: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Latin America: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Latin America: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Brazil: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Brazil: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Mexico: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Mexico: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Others: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Others: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Middle East and Africa: Neobanking Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Middle East and Africa: Neobanking Market: Breakup by Country (in %), 2020
Figure 65: Middle East and Africa: Neobanking Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Global: Neobanking Industry: SWOT Analysis
Figure 67: Global: Neobanking Industry: Value Chain Analysis
Figure 68: Global: Neobanking Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Neobanking Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Neobanking Market Forecast: Breakup by Account Type (in Million US$), 2021-2026
Table 3: Global: Neobanking Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Neobanking Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Neobanking Market: Competitive Structure
Table 6: Global: Neobanking Market: Key Players

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