Global Neo and Challenger Bank market will register a 38.3% CAGR in terms of revenue, the market size will reach USD 14.2 Billion by 2024, from USD 2.8 Billion in 2019.
Neo and Challenger Bank are fintech based financial providers that provided services digitally, includes companies that applied for their own banking license (categorized as Challenger Banks). and companies that partnered with a traditional bank to provide those financial services (categorized as Neo banks).
Existing neo and Challenger banks have set up marketplaces to provide customer-centric products as part of their collective mission to provide more than a digital version of traditional banking. The marketplaces may be in their infancy, but they are growing in terms of the products they offer and level of integrations. In doing so, neo and Challenger banks will service a far wider segment of customers than a traditional bank as they vie to become the centre of solving the wider customer need.
Neo and Challenger Bank market is developing unbalanced based on regions. In 2018, Europe is holding the largest market share for Neo and Challenger Bank market due to its active and booming banking service market. U.S., China, India and other Asia countries are expected to witness higher growth rates on account of relaxations in regulatory requirements, high penetration of internet and smartphones, and large untapped consumer base in these countries.
The global Neo and Challenger Bank market is highly competitive and fragmented due to the presence of numerous small vendors in the market. Atom Bank, WeBank (Tencent Holdings Limited), N26, Starling Bank and Tandem Bank are key Neo and Challenger Bank service providers in Global Neo and Challenger Bank market. Other prominent players in the market include Movencorp, Simple Finance Technology, Fidor Group, etc. Growing mobile adoption and new regulations will help challengers expand services.
According to this study, over the next five years the Neo and Challenger Bank market will register a 38.3% CAGR in terms of revenue, the global market size will reach US$ 14200 million by 2024, from US$ 2800 million in 2019. In particular, this report presents the global revenue market share of key companies in Neo and Challenger Bank business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Neo and Challenger Bank market by product type, application, key companies and key regions.
This study considers the Neo and Challenger Bank value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Neobanks
Challenger Banks
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Personal Consumers
Business Organizations
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Atom Bank
Movencorp
Simple Finance Technology
Fidor Group
N26
Pockit
Ubank
Monzo Bank
MyBank (Alibaba Group)
Holvi Bank
WeBank (Tencent Holdings Limited)
Hello Bank
Koho Bank
Rocket Bank
Soon Banque
Digibank
Timo
Jibun
Jenius
K Bank
Kakao Bank
Starling Bank
Tandem Bank
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Neo and Challenger Bank market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Neo and Challenger Bank market by identifying its various subsegments.
Focuses on the key global Neo and Challenger Bank players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Neo and Challenger Bank with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Neo and Challenger Bank submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Table of Contents
2019-2024 Global Neo and Challenger Bank Market Report (Status and Outlook)
1 Scope of the Report
1.1 Market Introduction
1.2 Research Objectives
1.3 Years Considered
1.4 Market Research Methodology
1.5 Economic Indicators
1.6 Currency Considered
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Neo and Challenger Bank Market Size 2014-2024
2.1.2 Neo and Challenger Bank Market Size CAGR by Region
2.2 Neo and Challenger Bank Segment by Type
2.2.1 Neobanks
2.2.2 Challenger Banks
2.3 Neo and Challenger Bank Market Size by Type
2.3.1 Global Neo and Challenger Bank Market Size Market Share by Type (2014-2019)
2.3.2 Global Neo and Challenger Bank Market Size Growth Rate by Type (2014-2019)
2.4 Neo and Challenger Bank Segment by Application
2.4.1 Personal Consumers
2.4.2 Business Organizations
2.5 Neo and Challenger Bank Market Size by Application
2.5.1 Global Neo and Challenger Bank Market Size Market Share by Application (2014-2019)
2.5.2 Global Neo and Challenger Bank Market Size Growth Rate by Application (2014-2019)
3 Global Neo and Challenger Bank by Players
3.1 Global Neo and Challenger Bank Market Size Market Share by Players
3.1.1 Global Neo and Challenger Bank Market Size by Players (2017-2019)
3.1.2 Global Neo and Challenger Bank Market Size Market Share by Players (2017-2019)
3.2 Global Neo and Challenger Bank Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) (2017-2019)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Neo and Challenger Bank by Regions
4.1 Neo and Challenger Bank Market Size by Regions
4.2 Americas Neo and Challenger Bank Market Size Growth
4.3 APAC Neo and Challenger Bank Market Size Growth
4.4 Europe Neo and Challenger Bank Market Size Growth
4.5 Middle East & Africa Neo and Challenger Bank Market Size Growth
5 Americas
5.1 Americas Neo and Challenger Bank Market Size by Countries
5.2 Americas Neo and Challenger Bank Market Size by Type
5.3 Americas Neo and Challenger Bank Market Size by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Key Economic Indicators of Few Americas Countries
6 APAC
6.1 APAC Neo and Challenger Bank Market Size by Countries
6.2 APAC Neo and Challenger Bank Market Size by Type
6.3 APAC Neo and Challenger Bank Market Size by Application
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 Key Economic Indicators of Few APAC Countries
7 Europe
7.1 Europe Neo and Challenger Bank by Countries
7.2 Europe Neo and Challenger Bank Market Size by Type
7.3 Europe Neo and Challenger Bank Market Size by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
7.9 Spain
7.10 Key Economic Indicators of Few Europe Countries
8 Middle East & Africa
8.1 Middle East & Africa Neo and Challenger Bank by Countries
8.2 Middle East & Africa Neo and Challenger Bank Market Size by Type
8.3 Middle East & Africa Neo and Challenger Bank Market Size by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market Trends
10 Global Neo and Challenger Bank Market Forecast
10.1 Global Neo and Challenger Bank Market Size Forecast (2019-2024)
10.2 Global Neo and Challenger Bank Forecast by Regions
10.2.1 Global Neo and Challenger Bank Forecast by Regions (2019-2024)
10.2.2 Americas Market Forecast
10.2.3 APAC Market Forecast
10.2.4 Europe Market Forecast
10.2.5 Middle East & Africa Market Forecast
10.3 Americas Forecast by Countries
10.3.1 United States Market Forecast
10.3.2 Canada Market Forecast
10.3.3 Mexico Market Forecast
10.3.4 Brazil Market Forecast
10.4 APAC Forecast by Countries
10.4.1 China Market Forecast
10.4.2 Japan Market Forecast
10.4.3 Korea Market Forecast
10.4.4 Southeast Asia Market Forecast
10.4.5 India Market Forecast
10.4.6 Australia Market Forecast
10.5 Europe Forecast by Countries
10.5.1 Germany Market Forecast
10.5.2 France Market Forecast
10.5.3 UK Market Forecast
10.5.4 Italy Market Forecast
10.5.5 Russia Market Forecast
10.5.6 Spain Market Forecast
10.6 Middle East & Africa Forecast by Countries
10.6.1 Egypt Market Forecast
10.6.2 South Africa Market Forecast
10.6.3 Israel Market Forecast
10.6.4 Turkey Market Forecast
10.6.5 GCC Countries Market Forecast
10.7 Global Neo and Challenger Bank Forecast by Type
10.8 Global Neo and Challenger Bank Forecast by Application
11 Key Players Analysis
11.1 Atom Bank
11.1.1 Company Details
11.1.2 Neo and Challenger Bank Product Offered
11.1.3 Atom Bank Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.1.4 Main Business Overview
11.1.5 Atom Bank News
11.2 Movencorp
11.2.1 Company Details
11.2.2 Neo and Challenger Bank Product Offered
11.2.3 Movencorp Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.2.4 Main Business Overview
11.2.5 Movencorp News
11.3 Simple Finance Technology
11.3.1 Company Details
11.3.2 Neo and Challenger Bank Product Offered
11.3.3 Simple Finance Technology Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.3.4 Main Business Overview
11.3.5 Simple Finance Technology News
11.4 Fidor Group
11.4.1 Company Details
11.4.2 Neo and Challenger Bank Product Offered
11.4.3 Fidor Group Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.4.4 Main Business Overview
11.4.5 Fidor Group News
11.5 N26
11.5.1 Company Details
11.5.2 Neo and Challenger Bank Product Offered
11.5.3 N26 Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.5.4 Main Business Overview
11.5.5 N26 News
11.6 Pockit
11.6.1 Company Details
11.6.2 Neo and Challenger Bank Product Offered
11.6.3 Pockit Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.6.4 Main Business Overview
11.6.5 Pockit News
11.7 Ubank
11.7.1 Company Details
11.7.2 Neo and Challenger Bank Product Offered
11.7.3 Ubank Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.7.4 Main Business Overview
11.7.5 Ubank News
11.8 Monzo Bank
11.8.1 Company Details
11.8.2 Neo and Challenger Bank Product Offered
11.8.3 Monzo Bank Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.8.4 Main Business Overview
11.8.5 Monzo Bank News
11.9 MyBank (Alibaba Group)
11.9.1 Company Details
11.9.2 Neo and Challenger Bank Product Offered
11.9.3 MyBank (Alibaba Group) Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.9.4 Main Business Overview
11.9.5 MyBank (Alibaba Group) News
11.10 Holvi Bank
11.10.1 Company Details
11.10.2 Neo and Challenger Bank Product Offered
11.10.3 Holvi Bank Neo and Challenger Bank Revenue, Gross Margin and Market Share (2017-2019)
11.10.4 Main Business Overview
11.10.5 Holvi Bank News
11.11 WeBank (Tencent Holdings Limited)
11.12 Hello Bank
11.13 Koho Bank
11.14 Rocket Bank
11.15 Soon Banque
11.16 Digibank
11.17 Timo
11.18 Jibun
11.19 Jenius
11.20 K Bank
11.21 Kakao Bank
11.22 Starling Bank
11.23 Tandem Bank
12 Research Findings and Conclusion
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*If Applicable.