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(IT-NEWSWIRE.COM, December 23, 2019 ) Market Overview
The global neo-banking market is anticipated to grow at a CAGR of 45.23% from 2019 to 2026.
Neo bank provides a complete range of banking solutions to the customers without having any physical offices or branch. While challenger banks are comparatively small retail banks which are established to compete for business with large, long-established national banks.
Cost-effective banking, fast servicing, provision of advance banking features, healthy interest rates, and customer convince are prominent drivers of the neo-banking market.
Moreover, increased penetration of internet and mobile devices has boosted the market potential for neo banks globally. Increasing investment within neo-baking sector would help the market to sustain healthy growth rates in the next couple of years.
For instance, Atom Bank, one of the top player in neo-baking sector received a 45-million-pound investment from the Spanish bank BBVA in January 2016. However, security and privacy of the data might hamper the market growth.
By type, the neo-banking market is segmented as neo-banks and challenger banks. Neo-banks are aggressively marketing their products and reaching a vast consumer base.
However, challenger banks are focused on acquiring small and medium enterprises. Geographically the market concentrated over Europe.
Growing consumer base and adoption of neo banking would drive the European neo-baking market. For instance, in 2015, challenger banks supplied over 200,000 UK consumers with mortgages and held a 20% share of the UKs small and medium-sized enterprise (SME) gross lending, providing new loans and overdrafts to around 50,000 SMEs. North America is a second largest market for neo banking owing to increasing adoption of new banks by America people.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The report profiles the following companies, which includes Atom Bank PLC, Fidor Bank Ag, Monzo Bank Limited, Movencorp Inc., My bank, N26, Pocket Limited, Simple Finance Technology Corporation, Ubank Limited, and Webank.
Download free sample: https://www.datamintelligence.com/download-sample/neobanking-market
Key Market Segment Covered
By Type
Neo Bank
Challenger Bank
By Region
Asia Pacific
Europe
North America
South America
Rest of the World
View full report: https://www.datamintelligence.com/research-report/neobanking-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/neobanking-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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