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
2.
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
3. 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.
4. TABLE OF CONTENTS
INTRODUCTION
EXECUTIVE SUMMARY
MARKET OVERVIEW
NEO AND CHALLENGER BANK MARKET, BY BANK TYPE
NEO AND CHALLENGER BANK MARKET, BY COUNTRY
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