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Neobanking Global Market Forecast Report 2022-2026, with Profiles of Revolut, Ubank, Simple Finance Technology and Webank

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Dublin, Oct. 31, 2022 (GLOBE NEWSWIRE) -- The "Neobanking Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global neobanking market is expected to grow from $54.36 billion in 2021 to $78.02 billion in 2022 at a compound annual growth rate (CAGR) of 43.52%. The neobanking market is expected to grow to $359.46 billion in 2026 at a compound annual growth rate (CAGR) of 43.52%.

The report focuses on neobanking market which is experiencing strong growth. The report gives a guide to the neobanking market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Report Scope:

  • By Account Type: Business Account; Savings Account

  • By Service: Mobile Banking; Payments And Money Transfer; Checking/Savings Account; Loans; Others

  • By Application : Enterprises; Personal; Other Application

Key Highlights:

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.

  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.

  • Create regional and country strategies on the basis of local data and analysis.

  • Identify growth segments for investment.

  • Outperform competitors using forecast data and the drivers and trends shaping the market.

  • Understand customers based on the latest market research findings.

  • Benchmark performance against key competitors.

  • Utilize the relationships between key data sets for superior strategizing.

  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Western Europe was the largest region in the neobanking market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neobanking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

According to a survey conducted by McKinsey and Company, between 2017 and 2021, the fraction of customers in Asia-Pacific developing countries actively utilizing digital banking expanded rapidly, rising from 54 % in 2017 to 88% in 2021. Thus the growing demand for digitalization in the banking sector is expected to propel the neobanking market.

Technological Advancement is a key trend propelling the neobanking market. Artificial intelligence is used in neobanking services and solutions to improve efficiency. AI can provide consumers with highly personalized solutions and logical reminders and notifications that will help them save money and enjoy more ease. It helps in credit decisions, risk management, trading and personalized services.

In March 2021, DigiBankASIA, a Singapore-based financial services company, entered into a partnership with Xebia to launch Asia's digital Bank, UnoBank. Combining top banking products to provide a distinctive and cutting-edge digital foundation, Xebia will be UNO's digital and innovative technology partner in building Cognito, UNO's digital-first platform. It is ideally positioned to construct a cutting-edge and intelligent CX platform for UNObank due to its experience in technologies like Al/ML, IoT, AR/VR, Cloud, DevOps, Big Data & Analytics. Xebia is a US-based IT consultancy company.

Company Profiles:

  • Revolut Ltd.

  • Simple Finance Technology Corp.

  • Ubank Limited

  • Webank, Inc.

  • Tangerine Bank

For more information about this report visit https://www.researchandmarkets.com/r/qll4sn

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