Market Insights report
The Neobanking market has a global transaction value of US$3,210.6 billion in 2022 and is the largest segment within FinTech. Europe is currently the biggest market in the world in Neobanking, with transaction value reaching US$1,462.3 billion in 2022.
What's included?
In this report, A neobank is a type of challenger bank that solely operates 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 and desktop devices. They require their clients to go through a digital onboarding process, which is most frequently done via a smartphone. Neobanks can be of two types: those which have a banking license and those that do not. Keyplayers in this market include Revolut, Chime, Nubank, N26, and Monzo.
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