Neo and Challenger Bank Market: Comprehensive study explores Huge Growth in Future | Atom Bank plc, Fidor Solutions AG, Monzo Bank Limited, Movencorp
iCrowdNewswire Dec 2, 2020 5:25 AM ET
Neo and Challenger Bank Market by Service Type (Loans, Mobile Banking, Checking & Savings Account, Payment & Money Transfer, and Others) and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020-2027 , Covid 19 Outbreak Impact research report added by Report Ocean, predicts the industry’s performance for the upcoming years to help stakeholders in making the right decisions that can potentially garner strong returns. Further, the document provides comprehensive analysis of the key industry trends as well as the opportunities that will ensure an upward growth trajectory in the coming years. It also focuses on developing strategies for challenges faced by the industry. Moreover, an exhaustive discussion of the latest updates including the impact of COVID-19 pandemic is furnished in the study. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Neo bank are digital-only banks without any physical branches and operates on a partnered bank license in the market. These banks provide digital and mobile-first financial payment solutions, remittances & money transfers services, lending, checking & saving account, insurance, and mortgages completely via mobile applications. In addition, neo banks also provide value-added services such as automated accounting, expenses management, and payroll, especially to growing small & medium enterprises.
Challenger banks are established firms and operate with a full banking license in the market. These banks provide services such as lending, investments & savings accounts, checking & merchant accounts, mobile banking, credit cards, mobile banking, and others (retirement savings, insurance products, and buying & selling of cryptocurrency). These banks are continuously challenging over existing traditional banks, by innovating & integrating several technologies in their product offerings.
Together, neo and challenger banks have entered in the banking industry with advance features, real-time services and client-centric products & services posing challenges for the existing traditional banks in the market.
Higher interest rates offered to customers over traditional banks, government & regulatory supports toward banking operations, and better convenience provided via mobile applications are major driving factors of the market. However, acquiring customers online and profitability for these start-up banks limit the market growth. Moreover, the neo and challenger bank market is expected to have lucrative opportunities such as to expand their business by strengthening online offerings to unbanked population in the emerging economies. In addition, business expansion, development of existing banking portfolio, bundling the product offerings and provide customized solutions are remaining some other focus areas for these Fintech banks in the upcoming years.
The neo and challenger bank market is segmented on the basis of service type, end user, and region. In terms of service type, it is classified into loans, mobile banking, checking & savings account, payment & money transfer, and others. By end user, it is bifurcated into business and personal. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the global neo and challenger bank market analysis are Atom Bank plc, Fidor Solutions AG, Monzo Bank Limited, Movencorp, Inc., MYbank, Number26 GmbH, Simple Finance Technology Corporation, Tandem Bank, UBank limited, and WeBank. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key benefits for stakeholders
– The study provides an in-depth analysis of the global neo and challenger bank market along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
– Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
– The quantitative analysis of the global neo and challenger bank market from 2020 to 2027 is provided to determine the market potential.
Key market segments
By Service Type
– Mobile Banking
– Checking & Savings Account
– Payment & Money Transfer
By End User
KEY MARKET PLAYERS
– Atom Bank plc
– Fidor Solutions AG
– Monzo Bank Limited
– Movencorp, Inc.
– Number26 GmbH
– Simple Finance Technology Corporation
– Tandem Bank
– UBank limited
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
Market Behavior/ Level of Risk and Opportunity
End Industry Behavior/ Opportunity Assessment
Expected Industry Recovery Timeline
Business Impact Horizon
Opening of Economy by Q3 2020
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021
Key highlights from COVID-19 impact analysis:
- Predictions regarding long-term effects of COVID-19 pandemic on the growth trend.
- Socio-economic implications of the coronavirus outbreak on the Market.
- Peaks and valleys in demand during the Covid-19 lockdown period.
- Supply chain challenges.
- Projected long-term outlook of the pandemic on industry development.
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An overview of the regional landscape:
The key regions covered in the report are North America, Europe, China, Japan and South Korea, It also covers key regions (countries), viz, the U,S,, Canada, Germany, France, U,K,, Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U,A,E, etc,.
Regional contribution to the overall market growth is measured in the study.
Revenue generated, sales garnered, and growth rate attained by each region during forecast period are cited.
The market growth is analyzed by studying multiple determinants such as:
- Market Drivers
- Market Trends
- Market Challenges
- Market Opportunities
- Market Restraints, and
- Market Competition
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Key Questions Answered in The Report:
- What will the Market growth rate?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the market opportunities and overview of the Market?
- What are sales, revenue, and price analysis of top manufacturers of Market?
- What are the Market opportunities and threats faced by the vendors in the global Market?
- What are sales, revenue, and price analysis by types and applications of Market?
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Key Points Covered in Neo and Challenger Bank Market Report:
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.3.Analyst tools & models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.1.Top impacting factors
2.1.2.Top investment pockets
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key Forces Shaping Neo and Challenger Bank Market
3.2.1.Moderate bargaining power of suppliers
3.2.2.High bargaining power of buyer
3.2.3.Moderate threat of substitutes
3.2.4.High threat of new entrants
3.2.5.High competitive rivalry
188.8.131.52.Convenience offered to consumers
184.108.40.206.Higher interest rates offered over traditional banks
220.127.116.11.Regulations supporting market growth
18.104.22.168.Key challenge of acquisition of customers
22.214.171.124.Profitability: A challenge for digital banks
126.96.36.199.Untapped potential of emerging economies
188.8.131.52.Increase in smartphone and internet penetration
CHAPTER 4:NEO AND CHALLENGER BANK MARKET, BY SERVICE TYPE
4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country
4.4.Checking & Savings Account
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region
4.4.3.Market analysis, by country
4.5.Payment & Money Transfer
4.5.1.Key market trends, growth factors and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market analysis, by country
4.6.1.Key market trends, growth factors and opportunities
4.6.2.Market size and forecast, by region
4.6.3.Market analysis, by country
CHAPTER 5:NEO AND CHALLENGER BANK MARKET, BY END USER
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
CHAPTER 6:NEO AND CHALLENGER BANK MARKET, BY REGION
6.1.1.Market size and forecast, by region
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by service type
6.2.3.Market size and forecast, by end user
6.2.4.Market analysis, by country
184.108.40.206.1.Market size and forecast, by service type
220.127.116.11.2.Market size and forecast, by end user
18.104.22.168.1.Market size and forecast, by service type
22.214.171.124.2.Market size and forecast, by end user
6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by service type
6.3.3.Market size and forecast, by end user
6.3.4.Market analysis, by country
126.96.36.199.1.Market size and forecast, by service type
188.8.131.52.2.Market size and forecast, by end user
184.108.40.206.1.Market size and forecast, by service type
220.127.116.11.2.Market size and forecast, by end user
18.104.22.168.1.Market size and forecast, by service type
22.214.171.124.2.Market size and forecast, by end user
126.96.36.199.1.Market size and forecast, by service type
188.8.131.52.2.Market size and forecast, by end user
184.108.40.206.1.Market size and forecast, by service type
220.127.116.11.2.Market size and forecast, by end user
18.104.22.168.1.Market size and forecast, by service type
22.214.171.124.2.Market size and forecast, by end user
126.96.36.199.1.Market size and forecast, by service type
188.8.131.52.2.Market size and forecast, by end user
184.108.40.206.Rest of Europe
220.127.116.11.1.Market size and forecast, by service type
18.104.22.168.2.Market size and forecast, by end user
6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by service type
6.4.3.Market size and forecast, by end user
6.4.4.Market analysis, by country
22.214.171.124.1.Market size and forecast, by service type
126.96.36.199.2.Market size and forecast, by end user
188.8.131.52.1.Market size and forecast, by service type
184.108.40.206.2.Market size and forecast, by end user
220.127.116.11.1.Market size and forecast, by service type
18.104.22.168.2.Market size and forecast, by end user
22.214.171.124.1.Market size and forecast, by service type
126.96.36.199.2.Market size and forecast, by end user
188.8.131.52.1.Market size and forecast, by service type
184.108.40.206.2.Market size and forecast, by end user
220.127.116.11.1.Market size and forecast, by service type
18.104.22.168.2.Market size and forecast, by end user
22.214.171.124.Rest of Asia-Pacific
126.96.36.199.1.Market size and forecast, by service type
188.8.131.52.2.Market size and forecast, by end user
6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by service type
6.5.3.Market size and forecast, by end user
6.5.4.Market analysis, by country
184.108.40.206.1.Market size and forecast, by service type
220.127.116.11.2.Market size and forecast, by end user
18.104.22.168.1.Market size and forecast, by service type
22.214.171.124.2.Market size and forecast, by end user
126.96.36.199.1.Market size and forecast, by service type
188.8.131.52.2.Market size and forecast, by end user
CHAPTER 7:COMPETITIVE LANDSCAPE
7.1.1.Market player positioning, 2019
7.1.2.Top winning strategies
CHAPTER 8:COMPANY PROFILES
8.1.Atom Bank plc
8.1.5.Key strategic moves and developments
8.2.Fidor Solutions AG
8.3.Monzo Bank Limited
8.3.5.Key strategic moves and developments
8.4.5.Key strategic moves and developments
8.7.Simple Finance Technology Corporation
8.8.5.Key strategic moves and developments
8.9.5.Key strategic moves and developments
8.10.5.Key strategic moves and developments
……..and view more in complete table of Contents
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Keywords: Neo and Challenger Bank Market, Neo and Challenger Bank Market Analysis, Neo and Challenger Bank Market Growth, Neo and Challenger Bank Market Scope, Neo and Challenger Bank Market Share, Neo and Challenger Bank Market Trend, Neo and Challenger Bank Market Development, Neo and Challenger Bank Market Sales, Neo and Challenger Bank Market Forecast, Neo and Challenger Bank Market Opportunities, Neo and Challenger Bank Market Size
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