Luxembourg: neobanking users 2023

The number of neobanking users in Luxembourg increased sharply between 2017 and 2023, exceeding 181,000 in 2023. According to Statista, this number will continue to increase in the following years, reaching 243,000 in 2028.

Number of neobanking users in Luxembourg from 2017 to 2023, with forecasts from 2024 to 2028 (in 1000s)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

A neobank is a type of challenger bank that operates solely digitally. Neobanks are newly established banks that do not belong to large conventional banks. They do not have any physical branches and can provide their services both via mobile or desktop devices. They require their clients to go through a digital onboarding process, most frequently via smartphone. Neobanks can be of two types: those which have a banking license and those that do not.

Additional Information:

The most popular neobanks include Revolut, Chime, Nubank, N26, and Monzo.

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