Global Neobanking Market and Trends 2021 code:1547

Global Neobanking Market and Trends 2021
OVERVIEW
TABLE OF CONTENTS
COMPANIES MENTIONED
Countries Covered: Australia, Brazil, Canada, Colombia, Denmark, France, Germany, Hong Kong, Ireland, Italy, Mexico, Poland, Portugal, Romania, Russia, Singapore, South Korea, Spain, UK, USA
Pages: 106
Publication Date: 28/10/2021
Download Free Sample
Questions Covered in the report:
  • What are the top three trends in the Neobanking landscape globally in 2021?
  • What are the key players in Internet-only across the globe in 2021?
  • How did the global user penetration rate change during the pandemic as compared to the period before COVID-19?
  • How do consumers feel about the banking digitalization in different countries in 2021?
  • What is the specific consumer type that is the most ready to switching to a Neobank?

Key Findings:

Banking services are going digital, and the consumer adoption rates of Neobanking are rising: new yStats.com report.

Neobanks are likely to see a surge in the number of users in the near future

Appearing naturally as the result of global digitalization, Neobanks are becoming increasingly trusted by consumers in many parts of the world. Furthermore, the number of digital-only banks increased at least 4 times as 2020 ended, compared to two years earlier. Moreover, as consumers transfer their banking transactions into digital even while remaining clients of traditional banks, many of them realize that the challenger banks offer attractive options such as fully online services. This has led to the increased Neobank consumer penetration rate of six percentage points globally. Additionally, as both the demand and supply rise, Internet-only banks felt the need to differentiate themselves not only from the traditional banks but also from their direct competitors by targeting certain population groups and offering specific services that are still new to the market, as detailed in the new yStats.com publication.

In the latest global ranking of Neobanks, those from Europe and North America dominated significantly  

In the European region, consumers claim to be still rather conservative when it comes to choosing a bank and opening an account. According to a recent survey cited in the yStats.com publication, less than 5% of those surveyed would trust Neobanks their long-range financial well-being, and only a slightly larger share of respondents claimed to have a lot of trust in this type of bank. The newness and sometimes brash style of the Neobanks contrast with the image of the large, sometimes state-owned established traditional banks. Nevertheless, the number of digital-only banks in the region is growing, and the number of clients is following an upward trend in all countries considered in the new yStats.com market report. With that, among the leading markets in the area is the United Kingdom, while Germany lags in terms of Neobanks adoption. This is despite the German home-grown Neobank N26 being in the top 10 digital-only banks in the global ranking by the number of clients. Meanwhile, in the same ranking, 8 out of 20 top Neobanks had their origin in the United States, showing the growing importance of the Internet-only banks in the country, which was also reflected in the number of Neobank account holders in the country.

Other global regions are making efforts to catch up with Europe and North America in terms of Neobanking development  

Authorities in the Asia-Pacific region have recognized the rising global trend, but the regulatory implementation is still in the developing phase. Some markets, such as Australia and Hong Kong, already clearly stand out in terms of Neobanks adoption, while others are still rather resistant. Meanwhile, in Latin America, mainly thanks to Brazil and Mexico, the number of Neobanks has been increasing by almost 30% year-on-year on average in the last decade, with NU Bank being currently the largest one in the region by its customer base, as detailed in the new yStats.com market report. At the same time, the Middle East and Africa have still a long way to go to reach the level of digital-only banks market development in that part of the globe. Nevertheless, with the high level of fintech adoption, the market is promising.

Read More Download Free Sample

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

3.1. Regional

  • Breakdown of Consumer Trust Level to Look After Their Long-Term Financial Well-Being, by Various Providers, in % of Bank Account and Insurance Policy Holders, August 2020
  • Breakdown of Consumer Trust Level to Look After Their Data, by Various Providers, in % of Bank Account and Insurance Policy Holders, August 2020
  • Top Reasons Why Consumers Don’t Have a Neobank Account, in % of Bank Account and Insurance Policy Holders, August 2020
  • Overview of the Leading Neobanks, December 2020

3.2. United Kingdom

  • Share of Adults With a Digital-Only Bank Account, in %, Jan. 2020, and Number of Adults With a Digital-Only Bank Account, in millions, Jan. 2019 & Jan 2020 & Jan. 2021
  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020
  • Share of Adult Digital-Only Bank Account Holders who Use It All or Most of the Time, in %, October 2020
  • Reasons for Opening an Account in a Digital Bank, in % of Adults, 2020 & 2021
  • Reasons for not Opening an Account in a Digital Bank, in % of Adults, 2020 & 2021
  • Reasons for not Opening an Account in a Digital Bank, by Age Group, in % of Adults, 2020 & 2021

3.3. France

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.4. Spain

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.5. Poland

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020
  • Number of Mobile-Only Customers of Polish Banks, Q1 2020 & Q4 2020 & Q1 2021

3.6. Italy

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.7. Romania

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.8. Ireland

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.9. Portugal

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.10. Germany

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020
  • Breakdown of Banks Types Used, in % of Adult Consumers, November 2020
  • Ways of Conducting Bank Transactions, in % of Adult Consumers, November 2020
  • Banking and Financial Services Done Online, in % of Adult Consumers, November 2020
  • Top Valued Features at Banks, in % of Respondents, 2017 – 2020
  • Share of Respondents with a Digital-Only Bank Account, and Intention to Open One, in %, 2018 – 2020

3.11. Denmark

  • Number of Clients in European Neobanks, in millions, June 2019 & November 2019 & June 2020 & December 2020

3.12. Russia

  • Top 15 Banks, in % of Respondents Who Used Their Services in the Last 30 Days, August 2020
  • Revenue of Tinkoff Neobank, in RUB billion, and Year-on-Year Change, in %, Q3 2019 – Q2 2021
  • Customer Base of Tinkoff Neobank, in millions, and Quarter-on-Quarter Change, in %, Q1 2020 – Q2 2021

4. North America

4.1. United States

  • Neobank Account Holders, in millions, and Year-on-Year Change, in %, 2020 – 2025f
  • Neobank User Penetration Rate, in % of Population, 2020 – 2025f
  • Top Four Digital-Only Banks, by Market Account Holders, in millions, August 2021
  • Share of Consumers who Conduct Banking Through Digital Channels, in %, May 2021
  • Share of Consumers who Use Mobile Banking and Desktop/Online Banking, in % of Consumers Using Digital Banking, May 2021
  • Top Used Features of Mobile Apps, in % of Mobile Banking Apps Users, May 2021
  • Share of Consumer who Visit Ban Branches in-Person, and The top Reasons of Doing so, in %, May 2021
  • Share of Digital Banking, in % of Total Digital Banking Market Size, June 2021
  • Digital Banking User Perceptive and Interact with Their Bank, by High- and Low- Digital Trust Users, in % of Digital Banking Users, Q1 2021
  • Top Used Mobile Banking Apps Features, in % of Bank Account Holders, February 2021

4.2. Canada

  • Share of Bank Customers who Would Allow Banks to Make Them Insurance Offerings, by Digital-Only and Traditional Bank Customers, in %, June 2021
  • Reasons to Allow Banks to Make Insurance Offers, by Digital-Only and Traditional Bank Customers, in % of Bank Customers, June 2021

5. Asia-Pacific

5.1. Regional

  • 50 Digital Challenger Banks in Select Countries, June 2021
  • Neobanks Market Readiness in Select Countries, December 2020
  • Number of Neobanks in Select Countries, December 2020
  • Share of Banking customers Who Would Like to Switch to Neobanks or New Digital Challengers, in %, 2020
  • Ecosystem of Profitable Digital Challenger Banks, incl. Number of Users, in millions, June 2021
  • Ways to Start a Banking Relationship, by Country, in % of Digital Banking Customers, December 2020
  • Willingness to Try a Fintech/Challenger Bank, by Country, in % of Digital Banking Customers, December 2020

5.2. Hong Kong

  • Overview of Virtual Banks, incl. Main Target Group, March 2021
  • Overview of Virtual Banks, incl. Services Offered, Launch Date, and Deposits, March 2021

5.3. Singapore

  • Overview of Recent News in the Digital Banks’ Space, December 2020
  • Share of Online Adults Who Prefer a Financial Institution with a Branch, and Share of Online Adults Who Prefer Using a Bank Branch for Day-to-Day Needs, in %, June 2020

5.4. Australia

  • Share of Consumers Who Trust Big Banks, and Who Trust Fintechs, in %, Q1 2021
  • Share of Adult Internet Users to Select Digital Bank Without Bank Branches When Opening Their Next Account, in %, July 2020

5.5. South Korea

  • Number of Kakao Bank Users, in millions, July 2017 – May 2021
  • Number of K Bank Users, in millions, December 2020 – March 2021

6. Latin America

6.1. Regional

  • Number of Digital-Only Banks, 2012 – 2021e
  • Number of Neobank Customers, in millions, 2016 – 2021e
  • Top 10 Neobanks, by the Number of Customers, in millions, July 2021
  • Top 10 Neobanks, by the Funding Value, in USD million, July 2021
  • Product Portfolio Comparison of Select Neobanks, July 2021

6.2. Brazil

  • Share of Respondents with an Account in a Digital Bank, and Share of Those Who in Addition to a Digital Bank account Has an Account in a Traditional Bank, in %, 2020
  • Share of Consumers who Intend to Take a Loan When the Country’s Economy is Recovered from the Pandemic, and Share of Those Who Would Do So at a Digital Bank, in %, July 2021
  • Top Reasons to Apply for a Loan, by Traditional and Digital-Only Banks, in % of Consumers, July 2021
  • Actions Taken after Being Denied a Loan, in % of Consumers Who Were Denied a Loan by a Traditional Bank, July 2021

6.3. Mexico

  • Change in Use of Various Banking Services Since the Pandemic, in % of Individuals, November 2020
  • Overview of Selected Neobanks’ Credit Cards, March 2021
  • Share of Adults Who are More Likely to Use Digital Means to Open a Bank Accounts, and Share of Adults Who Less Likely to Open an Account in Branch than Before COVID-19, in %, January 2021
  • Expectations about Tasks to be Able to Complete Digitally When Opening a Bank Account Online, in % of Adults, January 2021

6.4. Colombia

  • Share of Adults Who are More Likely to Use Digital Means to Open a Bank Accounts, and Share of Adults Who Less Likely to Open an Account in Branch than Before COVID-19, in %, January 2021
  • Expectations about Tasks to be Able to Complete Digitally When Opening a Bank Account Online, in % of Adults, January 2021

7. Middle East and Africa

7.1. Middle East

  • 21 Neobanks in Select Countries, December 2020
  • Overview of Select Neobanks, September 2021

7.2. Africa

  • Overview of Selected Neobanks’ Credit Cards, March 2021
Read More
  • 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
  • MY Bank
  • Mach
  • MasterCard
  • MoneyLion
  • Monzo
  • Mox
  • N26
  • NU Bank
  • Neo
  • Neon
  • Niyo
  • OakNorth
  • PAOB
  • PagBank
  • PayPay
  • Paytm
  • Pepper
  • Rakuten Bank
  • Rebellion
  • Revolut
  • SoFi
  • Sony Bank
  • Starling Bank
  • Stori
  • Tinkoff
  • Tomo
  • Transferwise
  • Uala
  • Upgrade
  • Valyuz
  • Varo
  • Vexi
  • Wallets.africa
  • WeBank
  • WeLab Bank
  • XW Bank
  • ZA Bank
Read More

RELATED REPORTS

Global Open Banking Market and Trends 2021

Publication Date: 19/10/2021

Regions Covered: Asia-Pacific - Europe - Africa - North America - Latin America - Middle East

Countries Covered: Brazil, Canada, China, Germany, India, Mexico, Russia, South Korea, Turkey, UK, USA

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

Global Alternative Payment Methods 2021 Post COVID-19

Publication Date: 01/09/2021

Regions Covered: Global

Countries Covered: Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Finland, France, Germany, Indonesia, Italy, Japan, Netherlands, Norway, Peru, Philippines, Poland, Portugal, Romania, Singapore, South Korea, Spain, Switzerland, Taiwan, Thailand, Turkey, UK, USA, Vietnam

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

Global Mobile Payment Methods 2021 Post COVID-19

Publication Date: 24/08/2021

Regions Covered: Global

Countries Covered: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Czech Republic, Denmark, Dominican Republic, Finland, France, Germany, India, Indonesia, Israel, Italy, Japan, Jordan, Kenya, Mexico, Netherlands, Norway, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, UAE, UK, USA, Vietnam

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

Global B2B E-Commerce Market and Trends 2021 Post COVID-19

Publication Date: 29/07/2021

Regions Covered: Global

Countries Covered: Australia, Austria, Brazil, Canada, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Mexico, Saudi Arabia, Singapore, Switzerland, UAE, UK, USA

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

North America Online Payment Methods 2021

Publication Date: 24/06/2021

Regions Covered: North America

Countries Covered: Canada, USA

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

Europe Online Payment Methods 2021

Publication Date: 10/06/2021

Regions Covered: Europe

Countries Covered: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, Netherlands, Norway, Poland, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Turkey, UK, Ukraine

Categories:

?

Single License

One individual may access and download the report

Site License

Up to ten regional employees of an organization may access and download the report

Global License

Up to ten global employees of an organization may access and download the report

View Report Details
View Report Details

Forgot your Password?

We will send you and e-mail with a link to
recover your password

POST NEW COMMENT

SHARE THIS POST