Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032

Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032



The global neobanking market size is expected to reach USD 4784.54 billion by 2032, according to a new study by Polaris Market Research. The report “Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Neobanks are digital financial institutions that provide a comprehensive array of banking and financial services exclusively through online channels, without any physical infrastructure.

The banking industry is anticipated to expand due to the growing demand for improved customer comfort. Neobanks, which are recognized for their customer-focused strategy, provide tailored services that differentiate them from conventional banks. Neobanks platforms leverage mobile and online channels to allow users to verify their service offerings quickly in real-time.

The dissatisfaction with traditional banking is driving a worldwide trend of customers adopting innovative banking solutions. Neobanks, which operate solely through digital channels without physical branches, offer banking services with lower fees and a simplified banking experience.

Technology has greatly benefited the banking sector. Neo-banks leverage technology to be more effective, efficient, and innovative. Technology lowers expenses, enhances customer satisfaction, and enables neo-banks to focus on cutting-edge products and services.

The Covid-19 pandemic has accelerated the acceptance of neobanking due to the increased reliance on online services. Neobanks have experienced significant growth and have the potential to enhance efficiency in areas such as prolonged manual processes, subpar client experiences, and low productivity.

Neobanks were capitalizing on advanced mobile apps, intuitive user interfaces, and data analytics to offer personalized financial solutions. Collaborations and partnerships between neobanks and fintech companies are also increasing, allowing neobanks to improve their service offerings and grow their customer base. The growth of neobanks is facilitated by regulatory advancements and the establishment of regulatory sandboxes in various regions, which provide a favorable environment for experimentation and innovation. Additionally, neobanks are expanding their product portfolios beyond traditional banking services to include budgeting tools, investment options, and financial education resources.

Neobanking Market Report Highlights
  • In 2023, the business account segment accounted for the largest revenue share in the neobanking market. Neobanking has gained immense popularity as a payment method for businesses across the globe. The simplified procedures and intuitive features of neobank platforms enhance the effectiveness of payments to suppliers and other related parties and also lead to progress by declining the requirement of manual intervention.
  • The enterprise segment accounted for the highest market share during the forecast period. The enterprise sector has played a significant role in the growth of the market. These platforms deliver services such as asset management, credit management, and transaction management. To satisfactorily serve their customers, various neobank service providers for SMEs seek to extend their product line by acquiring other companies.
  • In 2023, Europe is accounted for the largest market share in the neobanking market. The European market's growth is due to innovative technologies, early adoption of new tech, product platform creation, and alliances to enhance market position. Neo banks are adopting an O2O distribution model to drive growth.
  • Asia Pacific region accounted for the fastest growth in the neobanking market. The market is expected to grow due to the increasing use of smartphones and internet services. Additionally, the availability of convenient banking services and the rise of digital-only banks in countries like Japan, India, and China are likely to contribute to the growth of the Asia Pacific market in the forecast period.
  • The global key market players include Atom Bank PLC, Chime Financial Inc, Citigroup Inc, Dave Inc, Fidor Bank AG, Monzo Bank Ltd., Movencorp Inc., Mybank, N26 GmbH, Revolut Ltd., Simple Finance Technology Corp., Starling Bank, Ubank Limited, Upgrade, Inc, Webank, Inc.
Polaris Market Research has segmented the neobanking market report based on account type, service type, application and region:

Neobanking, Account Type Outlook (Revenue - USD Billion, 2019 - 2032)
  • Business Account
  • Savings Account
  • Others
Neobanking, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)
  • Mobile Banking
  • Loans
  • Payments and Money Transfer
  • Checking/Savings Account
  • Others
Neobanking, Application Outlook (Revenue - USD Billion, 2019 - 2032)
  • Enterprise
  • Personal
  • Others
Neobanking, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
  • North America
- U.S.

- Canada
  • Europe
- Germany

- UK

- France

- Italy

- Spain

- Russia

- Netherlands
  • Asia Pacific
- China

- India

- Japan

- South Korea

- Indonesia

- Malaysia
  • Latin America
- Argentina

- Brazil

- Mexico
  • Middle East & Africa
- UAE

- Saudi Arabia

- Israel

- South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Neobanking Market Insights
4.1. Neobanking Market – Service Type Snapshot
4.2. Neobanking Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increasing demand for digital banking solutions will facilitate the market growth
4.2.1.2. Quicker transaction process will bolster the growth of the market
4.2.2. Restraints and Challenges
4.2.2.1. Security concerns might hamper on the growth of the neobanking market.
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Neobanking Market Service Type Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Neobanking Market, by Account Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Neobanking Market, by Account Type, 2019-2032 (USD Billion)
5.3. Business Account
5.3.1. Global Neobanking Market, by Business Account, by Region, 2019-2032 (USD Billion)
5.4. Savings Account
5.4.1. Global Neobanking Market, by Savings Account, by Region, 2019-2032 (USD Billion)
5.5. Others
5.5.1. Global Neobanking Market, by Others Waste, by Region, 2019-2032 (USD Billion)
6. Global Neobanking Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global Neobanking Market, by Application, 2019-2032 (USD Billion)
6.3. Enterprise
6.3.1. Global Neobanking Market, by Enterprise, by Region, 2019-2032 (USD Billion)
6.4. Personal
6.4.1. Global Neobanking Market, by Personal, by Region, 2019-2032 (USD Billion)
6.5. Others
6.5.1. Global Neobanking Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Neobanking Market, by Service Type
7.1. Key Findings
7.2. Introduction
7.2.1. Global Neobanking Market, by Service Type, 2019-2032 (USD Billion)
7.3. Mobile Banking
7.3.1. Global Neobanking Market, by Mobile Banking, By Region, 2019-2032 (USD Billion)
7.4. Loans
7.4.1. Global Neobanking Market, by Loans, By Region, 2019-2032 (USD Billion)
7.5. Payments and Money Transfer
7.5.1. Global Neobanking Market, by Payments and Money Transfer, By Region, 2019-2032 (USD Billion)
7.6. Checking/Savings Account
7.6.1. Global Neobanking Market, by Checking/Savings Account, By Region, 2019-2032 (USD Billion)
7.7. Others
7.7.1. Global Neobanking Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Neobanking Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Neobanking Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Neobanking Market – North America
8.3.1. North America: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.3.2. North America: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.3.3. North America: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.3.4. Neobanking Market – U.S.
8.3.4.1. U.S.: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.3.5. Neobanking Market – Canada
8.3.5.1. Canada: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.3.5.3. Canada: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4. Neobanking Market – Europe
8.4.1. Europe: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.2. Europe.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.3. Europe: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.4. Neobanking Market – UK
8.4.4.1. UK: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.4.2. UK.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.4.3. UK: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.5. Neobanking Market – France
8.4.5.1. France: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.5.2. France.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.5.3. France: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.6. Neobanking Market – Germany
8.4.6.1. Germany: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.6.3. Germany: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.7. Neobanking Market – Italy
8.4.7.1. Italy: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.7.3. Italy: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.8. Neobanking Market – Spain
8.4.8.1. Spain: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.8.3. Spain: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.9. Neobanking Market – Netherlands
8.4.9.1. Netherlands: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.4.10. Neobanking Market – Russia
8.4.10.1. Russia: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.4.10.2. Russia.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.4.10.3. Russia: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5. Neobanking Market – Asia Pacific
8.5.1. Asia Pacific: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.4. Neobanking Market – China
8.5.4.1. China: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.4.2. China.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.4.3. China: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.5. Neobanking Market – India
8.5.5.1. India: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.5.2. India.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.5.3. India: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.6. Neobanking Market – Malaysia
8.5.6.1. Malaysia: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.7. Neobanking Market – Japan
8.5.7.1. Japan: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.7.3. Japan: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.8. Neobanking Market – Indonesia
8.5.8.1. Indonesia: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.5.9. Neobanking Market – South Korea
8.5.9.1. South Korea: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.6. Neobanking Market – Middle East & Africa
8.6.1. Middle East & Africa: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.6.4. Neobanking Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.6.5. Neobanking Market – UAE
8.6.5.1. UAE: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.6.5.3. UAE: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.6.6. Neobanking Market – Israel
8.6.6.1. Israel: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.6.6.3. Israel: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.6.7. Neobanking Market – South Africa
8.6.7.1. South Africa: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.7. Neobanking Market – Latin America
8.7.1. Latin America: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.7.2. Latin America.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.7.3. Latin America: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.7.4. Neobanking Market – Mexico
8.7.4.1. Mexico: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.7.5. Neobanking Market – Brazil
8.7.5.1. Brazil: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Neobanking Market, by Application, 2019-2032 (USD Billion)
8.7.6. Neobanking Market – Argentina
8.7.6.1. Argentina: Neobanking Market, by Account Type, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Neobanking Market, by Service Type, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Neobanking Market, by Application, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10.Company Profiles
10.1. Atom Bank PLC
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Chime Financial Inc
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Citigroup Inc
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Dave Inc
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Fidor Bank AG
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. Monzo Bank Ltd
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. Keppel Corporation
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Movencorp Inc
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. Mybank
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. N26 GmbH
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. Revolut Ltd
10.11.1. Company Overview
10.11.2. Financial Performance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. Simple Finance Technology Corp
10.12.1. Company Overview
10.12.2. Financial Performance
10.12.3. Product Benchmarking
10.12.4. Recent Development
10.13. Starling Bank
10.13.1. Company Overview
10.13.2. Financial Performance
10.13.3. Product Benchmarking
10.13.4. Recent Development
10.14. Ubank Limited
10.14.1. Company Overview
10.14.2. Financial Performance
10.14.3. Product Benchmarking
10.14.4. Recent Development
10.15. Upgrade, Inc
10.15.1. Company Overview
10.15.2. Financial Performance
10.15.3. Product Benchmarking
10.15.4. Recent Development
10.16. Webank, Inc
10.16.1. Company Overview
10.16.2. Financial Performance
10.16.3. Product Benchmarking
10.16.4. Recent Development

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