Reports

Sale

Neo and Challengers Bank Market

Global Neo and Challengers Bank Market Size, Share, Growth, Forecast: By Service Type: Loans, Recurrent Charges, Payment and Money Transfer, Credit Cards, Others; By End User: Business, Personal; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Neo and Challengers Bank Market Outlook

The global neo and challengers bank market size reached a value of around USD 31.78 billion in 2023. The market is estimated to grow at a CAGR of 47.80% between 2024 and 2032, reaching a value of around USD 1,058.90 billion by 2032.

 

Key Trends in the Market

Neo banks are financial institutions that operate exclusively through digital platforms, eliminating the need for physical branches. They operate under a partnered bank license and offer a wide range of financial services, including digital and mobile-centric payment solutions, money transfers, and remittance services, among others. On the other hand, challenger banks are well-established institutions that hold complete banking licenses within the market.

 

Global Neo and Challengers Bank Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

  • The rapid progression of technology serves as a catalyst in driving the neo and challengers bank market growth. Advancements in artificial intelligence (AI), machine learning, blockchain, the Internet of Things (IoT), and cloud computing have created a more equitable environment for startups.
  • Due to the emergence of disruptive technologies and startups, there is an ongoing evolution in the regulatory landscape. Governments and regulatory bodies are acknowledging the potential of innovation and its positive impact on economic growth. As a result, they are enacting policies to create a supportive ecosystem for neo and challenger banks, fostering an environment conducive to their operations and growth.
  • With increasing internet penetration, consumers have access to an extraordinary amount of information, connectivity, and empowerment. In addition, the advent of social media, online reviews, and comparison platforms has significantly enhanced transparency and accountability. This has created a key trend for the neo and challengers bank market as banks are recognising the need to be more transparent and educating consumers about the advantages they can gain from utilising their services.

 

Market Analysis

Based on service type, the market is segmented into loans, recurrent charges, payment and money transfers, and credit cards, among others. On the basis of end user, the market can be bifurcated into business and personal. The major regional markets for neo and challenger banks are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Neo and Challengers Bank Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global neo and challenger banks market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Atom Bank Plc
  • Monzo Bank Limited
  • Movencrop, Inc
  • N26 Bank AG
  • Tandem Bank Limited
  • UBank
  • Preta S.A.S
  • Starling Bank Limited
  • Others

 

Market Share by Type

The loan segment is expected to hold a major portion of the neo and challengers bank market share. Neo and challenger banks offer competitive loan and credit products. They also provide streamlined loan application processes, flexible loan terms, and personalised interest rates. Moreover, such banks enable customers to access funds for personal loans, student loans, mortgages, or credit lines, often with more favourable terms compared to traditional banks.

 

Global Neo and Challengers Bank Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Market Share by End User

The personal segment is expected to register significant growth during the forecast period. The growth of the segment can be attributed to intuitive tools and features offered by neo and challenger banks for personal finance management. These include budgeting tools, spending analysis, expense categorisation, and real-time transaction tracking, among others. Such benefits also enable customers to easily monitor their finances, set financial goals, and make informed financial decisions.

 

Competitive Landscape

Atom Bank Plc is an online-based bank headquartered in the United Kingdom. Founded in 2014, the bank holds licenses from the Prudential Regulation Authority (PRA) and is regulated by both the Financial Conduct Authority (FCA) and the PRA.

 

Unlike traditional banks, Atom Bank operates exclusively through digital platforms and does not maintain physical branches. Alongside its retail banking offerings, Atom Bank extends its services to businesses as well, providing lending options and cash management solutions.

 

Monzo Bank Limited, commonly referred to as Monzo, is a digital bank based in the United Kingdom. It was founded in 2015 and operates primarily through its mobile app, although it also offers a web-based interface. Monzo is authorised and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

 

Tandem Bank Limited is a UK-based financial institution established in 2013. It is a digital-only bank that prioritises a mobile-centric banking experience for its customers. It provides a range of banking products and services encompassing current accounts, savings accounts, mortgages, and loans. At the core of Tandem Bank's offerings is its mobile application, empowering users to effortlessly oversee their financial matters while on the move.

 

Other neo and challengers bank market players include Movencrop, Inc, N26 Bank AG, UBank, Preta S.A.S, and Starling Bank Limited, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Service Type
  • End User
  • Region
Breakup by Service Type
  • Loans
  • Recurrent Charges
  • Payment and Money Transfer
  • Credit Cards
  • Others
Breakup by End User
  • Business
  • Personal
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Atom Bank Plc
  • Monzo Bank Limited
  • Movencrop, Inc
  • N26 Bank AG
  • Tandem Bank Limited
  • UBank
  • Preta S.A.S
  • Starling Bank Limited
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Neo and Challengers Bank Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Neo and Challengers Bank Historical Market (2018-2023) 
    8.3    Global Neo and Challengers Bank Market Forecast (2024-2032)
    8.4    Global Neo and Challengers Bank Market by Service Type
        8.4.1    Loans
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Recurrent Charges
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Payment and Money Transfer
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Credit Cards
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Neo and Challengers Bank Market by End User
        8.5.1    Business
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Personal
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
9    North America Neo and Challengers Bank Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Neo and Challengers Bank Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Neo and Challengers Bank Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Neo and Challengers Bank Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Neo and Challengers Bank Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles 
        15.2.1    Atom Bank Plc
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Monzo Bank Limited
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Movencrop, Inc
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    N26 Bank AG
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Tandem Bank Limited
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    UBank
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Preta S.A.S
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Starling Bank Limited
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Neo and Challengers Bank Market: Key Industry Highlights, 2018 and 2032 
2.    Global Neo and Challengers Bank Historical Market: Breakup by Service Type (USD Billion), 2018-2023 
3.    Global Neo and Challengers Bank Market Forecast: Breakup by Service Type (USD Billion), 2024-2032
4.    Global Neo and Challengers Bank Historical Market: Breakup by End User (USD Billion), 2018-2023 
5.    Global Neo and Challengers Bank Market Forecast: Breakup by End User (USD Billion), 2024-2032
6.    North America Neo and Challengers Bank Historical Market: Breakup by Country (USD Billion), 2018-2023 
7.    North America Neo and Challengers Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032 
8.    Europe Neo and Challengers Bank Historical Market: Breakup by Country (USD Billion), 2018-2023 
9.    Europe Neo and Challengers Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032 
10.    Asia Pacific Neo and Challengers Bank Historical Market: Breakup by Country (USD Billion), 2018-2023 
11.    Asia Pacific Neo and Challengers Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032 
12.    Latin America Neo and Challengers Bank Historical Market: Breakup by Country (USD Billion), 2018-2023 
13.    Latin America Neo and Challengers Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032 
14.    Middle East and Africa Neo and Challengers Bank Historical Market: Breakup by Country (USD Billion), 2018-2023 
15.    Middle East and Africa Neo and Challengers Bank Market Forecast: Breakup by Country (USD Billion), 2024-2032 
16.    Global Neo and Challengers Bank Market Structure

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 31.78 billion.

The market is projected to grow at a CAGR of 47.80% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 1,058.90 billion by 2032.

The market is being driven by technological advancements and the integration of machine learning and artificial intelligence in various financial services.

The key market trends include the implementation of favourable policies aimed at driving the growth of neo and challenger banks and the increasing demand for digital banking services among customers.

The major regional markets for neo and challenger banks are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major service types offered by neo and challenger banks are loans, recurrent charges, payment and money transfers, and credit cards, among others.

The key players in the neo and challengers bank market include Atom Bank Plc, Monzo Bank Limited, Movencrop, Inc, N26 Bank AG, Tandem Bank Limited, UBank, Preta S.A.S, and Starling Bank Limited, among others.

Purchase Full Report

Mini Report

$ 2199     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3299     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4399     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5499     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER