Neo & Challenger Bank Market Growth, Size, Opportunities and Analysis Forecast 2021 – 2027
Global Neo & Challenger Bank Market valued approximately USD XX million in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025.
The Neo & Challenger Bank Market is continuously growing in the global scenario at significant pace. Neo bank is referred as web based bank which provides complete range of banking solutions without having any physical offices or branch. While Challenger banks are comparatively small retail banks which are established for the purpose of competing for business with large, long-established national banks.
Favorable government regulations and enhanced convenience to customers are the substantial driving factors of the market during the forecast period. Additionally, proactive banking regulations to grant licenses and approvals is another major factor driving the growth of the global neo and challenger bank market. Moreover, increasing internet penetration and rise in demand for smartphones in the developing countries are the factors that likely to create numerous opportunity in the near future. However, acquisition of customers and profitability are the factors that limiting the growth of the market during the forecast period.
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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The regional analysis of Global Neo & Challenger Bank Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share due to Favorable government regulation and Growing investment in financial technology in the region. Europe is estimated to grow at stable growth rate in the global Neo & Challenger Bank market over the upcoming years. Further, North America is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
Key Players for Neo & Challenger Bank Market Report–
Some major key players for Neo & Challenger Bank market are Atom Bank, Movencorp, Simple Finance Technology, BPCE, N26, Pockit, Ubank, Monzo Bank, MyBank (Alibaba Group), Holvi Bank, WeBank (Tencent Holdings Ltd.), Hello Bank, Koho Bank, Rocket Bank, Soon Banque and others.
Target Audience of the Global Neo & Challenger Bank Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors