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Neo and Challenger Bank Market report, published by Allied Market Research, forecasts that the global market is, growing at a CAGR of 50.6% during the period 2017 - 2020.
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Neo and Challenger Bank Market Opportunities and Forecasts, 2014- 2022 PUBLISHED DATE: 12-JAN-17
The growth of the neo and challenger bank market is driven by factors such as favorable government regulations, convenience offered to consumers, and higher interest rates than traditional banks. • Digital challenger banks are simplifying the financial world, creating a customer centric approach to services, and transforming the way banking is viewed by the public and the market. • The neo and challenger bank market is segmented based on the type of bank into neo and challenger banks. • The challenger banks segment is expected to grow at a CAGR of 52.6% in terms of customer base because of the proliferation of these banks in regions such as UK, Germany, and China. • The U.S. market is followed by the UK, which also has an impressive customer base, owing to favorable regulations and substantial investments funding such fintech startups. • The Chinese market has witnessed the entry of MYBank and WeBank post approval from China Banking Regulatory Commission (CBRC). Baidu, a challenger bank, has partnered with CITIC Bank International to launch its own online bank. NEO AND CHALLENGER BANK MARKET- INTRODUCTION
NEO AND CHALLENGER BANK MARKET- KEY FINDINGS • The U.S. accounts for the largest customer base in neo bank market in 2016, and is expected to maintain its dominance throughout the forecast period. • In Challenger bank market, Germany accounts for the lions share in 2016. • The neo and challenger banks market in China is anticipated to witness the fastest growth rate during 20172020. • Neo banks has the largest customer base in 2016, and is expected to dominate the market in the near future.
TABLE OF CONTENTS • INTRODUCTION • EXECUTIVE SUMMARY • MARKET OVERVIEW • NEO AND CHALLENGER BANK MARKET, BY BANK TYPE • NEO AND CHALLENGER BANK MARKET, BY COUNTRY • RELATED INDUSTRY INSIGHTS
NEO AND CHALLENGER BANK MARKET- BY GEOGRAPHY North America, Europe, Asia Pacific, LAMEA
COMPANYPROFILES Atom Bank Plc Movencorp Simple Finance Technology Corporation Fidor Bank AG N26 Pockit Limited UBank Limited
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