New York, According to a new market research report published by Global Insight Services “Neobanking Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Neobanking is a term used to describe financial institutions that offer digital-only banking services. These institutions are typically online-only and lack a physical branch presence. Neobanks typically offer a suite of services that are similar to those offered by traditional banks, such as checking and savings accounts, debit cards, personal loans, and investment products. However, neobanks often differ from traditional banks in terms of their business model, technology platform, and target market.
Download a Free PDF Sample Copy of Report : https://www.globalinsightservices.com/request-sample/GIS24355
Key Trends
There are a few key trends in neobanking technology:
1. The shift from traditional banking to neobanking: More and more people are ditching traditional banks in favor of neobanks. This is because neobanks offer more flexible and user-friendly options, such as early wage access and fee-free ATM withdrawals.
2. The rise of mobile banking: Mobile banking is becoming increasingly popular, as it offers a convenient way to manage your finances on the go.
3. The growth of peer-to-peer payments: Peer-to-peer payments are growing in popularity, as they offer a convenient way to send and receive money without having to go through a bank.
4. The increasing use of artificial intelligence: Artificial intelligence is being used more and more in the banking industry, in order to provide personalised recommendations and improve customer service.
Key Drivers
There are several key drivers of the neobanking market.
First, traditional banks have been slow to adopt new technologies, leaving room for neobanks to enter the market with more innovative offerings.
Second, consumers are becoming more comfortable with trusting technology to handle their finances, and are therefore more open to using neobanks.
Third, the rise of mobile commerce and the ubiquity of smartphones has made it easier for consumers to conduct financial transactions on the go, which has helped neobanks to gain traction.
Finally, the increasing cost of traditional banking services has made neobanks more attractive to consumers.
Market Segments
The neobanking market report is bifurcated on the basis of type, application, and region. On the basis of type, it is segmented into mobile banking, payments & money transfer, loans, and others. By application, it is categorized into personal and business. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Player
The neobanking market report includes players such as Atom Bank Plc, BBVA S.A., BMTX, Inc., Chime Financial, Inc., Citigroup Inc., Dave, Inc., Deutsche Bank AG, Digibank, Equitable Bank, and HSBC Holdings Plc.
Get Customized report as per your requirements : https://www.globalinsightservices.com/request-customization/GIS24355
Reasons to buy Neobanking Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/