Global Neobanking Market and Trends 2021: Banking Services are Moving to the Virtual Space, Supported by Rising User Adoption Rates - ResearchAndMarkets.com

The "Global Neobanking Market and Trends 2021" report has been added to ResearchAndMarkets.com's offering.

The report offers a range of Neobanking statistics and an assessment of the development in the international Neobanking market. The publication reveals that the rising adoption of digital tools is likely to further increase the adoption rates of Internet-only banks and support the spread of this type of bank across the globe.

In the near future, Neobanks are anticipated to see a boom in user numbers

Neobanks, which arose as a result of global digitalization, will further gain in popularity among consumers in various regions of the world. This can be concluded from the pre- and post-pandemic development of the industry: at the end of 2020, the number of digital-only bank institutions had expanded at least fourfold compared to 2018 and the consumer adoption rate rose by six percentage points when taking a global average.

Moreover, as people convert their banking transactions to digital, even if they still have their main accounts at traditional banks, many are becoming aware that challenger banks, in conjunction with entirely online services are attractive because of better terms, as detailed in the report.

European and North American Neobanks dominated the most recent global ranking of Neobanks

Consumers in the European Union are said to be still rather conservative when it comes to selecting a bank and opening an account. In a recent survey cited in the publication, only under 5% of respondents would trust Neobanks their long-term financial well-being, and just a marginally bigger portion of those surveyed claimed to have a great deal of confidence in this kind of bank. Nevertheless, the quantity of Neobanks is rising in the region, and the customer base is also increasing, as detailed in the market report.

Additionally, Neobanks based in the United States are currently taking 8 out of 20 places in the ranking of the leading Neobanks globally, reflecting the growing consumer adoption. In the Asia-Pacific region, the regulatory implementation is still in the developing phase, however some markets, such as Australia and Hong Kong, already have taken serious steps towards banking digitalization.

Meanwhile, in Latin America, the number of Neobanks has been growing by nearly 30% annually in the last decade, with Brazilian NU Bank being currently the largest one in the region by its customer base, and the country itself being the regional leader.

Key Topics Covered:

1. Management Summary

2. Global Market Overview

• Neobanks Current Developments Overview, incl. Pros and Cons, September 2021
• Top 3 Trends in Neobanking in 2021, January 2021
• Market Size of Digital Banking, in USD billion, 2020 & 2026f
• Top 20 Independent Neobanks, by Valuation, in USD billion, 2020
• Top 20 Independent Neobanks, by User Base, in millions, 2020
• Top 20 Independent Neobanks, by Funding Value, in USD million, 2020
• Share of Retail and Corporate Banking, in % of Total Digital Banking Market Size, June 2021
• Neobanking Penetration Rate, by Type of Consumer, in % of Bank Account and Insurance Policy Consumers, August 2020
• Neobanking Penetration Rate, by Type of Consumer, in % of Bank Account and Insurance Policy Consumers, August 2020
• Share of Consumers who Use that Use a Neobank for the Majority of Banking Transactions, by Type of Consumer, in % of Bank Account and Insurance Policy Consumers, August 2020
• Share of Young Consumers Who Would Likely Switch to a Banking Solution from Google or Apple, in %, January 2021

3. Europe

4. North America

5. Asia-Pacific

6. Latin America

7. Middle East and Africa

Companies Mentioned

• 7aweshly
• AI Bank
• Airstar Bank
• Ant Bank
• Aspiration
• Aspire
• Atom Bank
• Bnext
• Broxel
• C6 Bank
• Carbon
• Chime
• Current
• Dave
• Digio
• Flink
• Fundall
• Fusion Bank
• Hello Bank
• Hype
• Ila Bank
• Inter
• Judo Bank
• K Bank
• Kakao Bank
• Klar,Line Bank
• Livi Bank
• Mach
• Mastercard
• MoneyLion
• Monzo
• Mox
• MY Bank
• N26
• Neo
• Neon
• Niyo
• NU Bank
• OakNorth
• PagBank
• PAOB
• PayPay
• PayTm
• Pepper
• Rakuten Bank
• Rebellion
• Revolut
• SoFi
• Sony Bank
• Starling Bank
• Stori
• Tinkoff
• Tomo
• Transferwise
• Uala
• Neon
• Upgrade
• Valyuz
• Varo
• Vexi
• Wallets.africa
• WeBank
• WeLab Bank
• XW Bank
• ZA Bank

For more information about this report visit https://www.researchandmarkets.com/r/amw52u

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