Neo and Challenger Bank Market (By Bank Type: Neo Bank, and Challenger Bank; By Country: (U.S, UK, Germany, China, and Australia) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025

$4995
Global Neo and Challenger Banks Market is estimated to reach $356 Million by 2025; growing at a CAGR of 45.8% from 2017 to 2025. Neo and challenger banks are on the verge to revolutionize the banking sector. Challenger bank is a modernized form of traditional bank, which functions without physical branches. Neo banks provide technology-enabled financial services through web and mobile interface. It is an emerging trend in the U.S. and Asian countries like China. Also, these banks have gained momentum in the European region. The arrival of new players in the market has led to an intense competition among existing digital banks and traditional banks.
Enhanced customer convenience offered by the banks, cost-efficiency and fast-servicing, heathier interest rates, and growing smart phone devices penetration are the major key drivers to boost the neo and challenger bank market. In addition, proactive banking regulations to grant licenses and approvals have also fueled the growth of the market. However, security and privacy of the financial data may restrict the market from growing. Moreover, growing investment in Neobanking is likely to gain significant impetus during the forecast timeframe.
The global neo and challenger bank is segmented into bank type, and country. The neo banks, and challenger banks are considered in the bank type segment. While, the U.S, Germany, UK, Australia, and China are classified under the country segment.
Prominent players operating in the market include Movencorp, Inc., Atom Bank Plc, Simple Finance Technology Corporation, Pockit Limited, Fidor Bank AG, Number26 GmbH, Monzo Bank Limited, MyBank (Alibaba Group), WeBank, and UBank Limited among others.
The key takeaways from the report
• The report will provide detailed analysis of the Global Neo and Challenger Bank Market with respect to major segments such as bank type, and country
• The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
• Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
• An exhaustive regional analysis of the Global Neo and Challenger Bank Market has been included in the report
• Profile of the key players in the Global Neo and Challenger Bank Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Neo and Challenger Bank Market
Bank Type Segments
• Neo Bank
• Challenger Bank
Country Segments
• U.S
• Germany
• UK
• Australia
• China
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
2.1 Global Neo and Challenger Bank Market Year-on-Year Growth, 2017 – 2025 (%)
Chapter 3 Market Outline
3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers
3.3.1.1 Impact Analysis
3.3.2 Restraints
3.3.2.1 Impact Analysis
3.3.3 Opportunities
Chapter 4 Global Neo and Challenger Bank Market by Bank Type: Market Size and Forecast, 2016 – 2025
4.1 Overview
4.2 Neo Bank
4.2.1 Current Trend and Analysis
4.2.2 Market Size and Forecast, 2016 – 2025 ($ Million)
4.2.3 Market Size and Forecast by Country, 2016 – 2025 ($ Million)
4.3 Challenger Bank
4.3.1 Current Trend and Analysis
4.3.2 Market Size and Forecast, 2016 – 2025 ($ Million)
4.3.3 Market Size and Forecast by Country, 2016 – 2025 ($ Million)
Chapter 5 Global Neo and Challenger Bank Market by Country: Market Size and Forecast, 2016 – 2025
5.1 Overview
5.1.1 Global Neo and Challenger Bank Market Year-on-Year Growth, by Country 2017 – 2025 (%)
5.2 U.S.
5.2.1 Current Trend and Analysis
5.2.2 Market Size and Forecast, 2016 – 2025 ($ Million)
5.3 UK
5.3.1 Current Trend and Analysis
5.3.2 Market Size and Forecast, 2016 – 2025 ($ Million)
5.4 Germany
5.4.1 Current Trend and Analysis
5.4.2 Market Size and Forecast, 2016 – 2025 ($ Million)
5.5 China
5.5.1 Current Trend and Analysis
5.5.2 Market Size and Forecast, 2016 – 2025 ($ Million)
5.6 Australia
5.6.1 Current Trend and Analysis
5.6.2 Market Size and Forecast, 2016 – 2025 ($ Million)
Chapter 6 Company Profiles
6.1 Atom Bank Plc
6.2 Movencorp, Inc.
6.3 Simple Finance Technology Corporation (acquired by BBVA)
6.4 Fidor Bank AG (acquired by BPCE Group)
6.5 Number26 GmbH
6.6 Pockit Limited
6.7 UBank Limited
6.8 Monzo Bank Limited
6.9 MyBank (Alibaba Group)
6.10 WeBank
List of Figures
FIG. 1 MARKET SEGMENTATION: GLOBAL NEO AND CHALLENGER BANK MARKET
FIG. 2 GLOBAL NEO AND CHALLENGER BANK MARKET YEAR ON YEAR GROWTH, 2017 – 2025 (%)
FIG. 3 MARKET SHARE ANALYSIS, 2017 (%)
FIG. 4 GLOBAL NEO AND CHALLENGER BANK MARKET SHARE AND FORECAST, BY BANK TYPE 2017 VS 2025 (VALUE %)
FIG. 5 NEO BANK MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG. 6 CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG. 7 GLOBAL NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST BY COUNTRY, 2017 VS 2025 (REVENUE, CAGR %)
FIG. 8 GLOBAL NEO AND CHALLENGER BANK MARKET YEAR ON YEAR GROWTH, BY COUNTRY 2017 – 2025 (%)
FIG. 9 U.S. NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG. 10 UK NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG. 11 GERMANY NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025 ($ MILLION)
FIG. 12 CHINA NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025 (5$ MILLION)
FIG. 13 AUSTRALIA NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, 2016 – 2025($ MILLION)
List of Tables
TABLE 1 GLOBAL NEO AND CHALLENGER BANK MARKET SNAPSHOT
TABLE 2 GLOBAL NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY COUNTRY, 2016 – 2025 ($ MILLION)
TABLE 3 DRIVERS OF THE GLOBAL NEO AND CHALLENGER BANK MARKET: IMPACT ANALYSIS
TABLE 4 RESTRAINTS OF THE GLOBAL NEO AND CHALLENGER BANK MARKET: IMPACT ANALYSIS
TABLE 5 NEO BANK MARKET SIZE AND FORECAST, BY COUNTRY, 2016 – 2025 ($ MILLION)
TABLE 6 CHALLENGER BANK MARKET SIZE AND FORECAST, BY COUNTRY, 2016 – 2025 ($ MILLION)
TABLE 7 U.S NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY BANK TYPE, 2016 – 2025 (5$ MILLION)
TABLE 8 UK NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY BANK TYPE, 2016 – 2025 ($ MILLION)
TABLE 9 GERMANY NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY BANK TYPE, 2016 – 2025 ($ MILLION)
TABLE 10 CHINA NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY BANK TYPE, 2016 – 2025 ($ MILLION)
TABLE 11 AUSTRALIA NEO AND CHALLENGER BANK MARKET SIZE AND FORECAST, BY BANK TYPE, 2016 – 2025 ($ MILLION)
TABLE 12 ATOM BANK PLC: COMPANY SNAPSHOT
TABLE 13 MOVENCORP, INC.: COMPANY SNAPSHOT
TABLE 14 SIMPLE FINANCE TECHNOLOGY CORPORATION: COMPANY SNAPSHOT
TABLE 15 FIDOR BANK AG: COMPANY SNAPSHOT
TABLE 16 NUMBER26 GMBH: COMPANY SNAPSHOT
TABLE 17 POCKIT LIMITED: COMPANY SNAPSHOT
TABLE 18 UBANK LIMITED: COMPANY SNAPSHOT
TABLE 19 IBM CORPORATION: COMPANY SNAPSHOT
TABLE 20 MYBANK: COMPANY SNAPSHOT
TABLE 21 WEBANK: COMPANY SNAPSHOT
1

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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