The North America Neobanking Market would witness market growth of 46.2% CAGR during the forecast period (2020-2026). The neobanking model provides a low-cost structure, easy availability, and modern services. Its cost-effectiveness is mainly boosted by the low real estate and distribution cost, less complicated IT systems, and efficient operating models. Neobanking provides various real-time services for payments, account opening, and balance checking, among others. It also provides high-security functions like freezing and locking of the app.
In addition to the primary banking services, neobanks also provide real-time accounting and reconciliation services for balance sheets, bookkeeping, profit & loss statements, and taxation services like tax payment record-keeping and GST-compliant invoicing. They adopt a transparent model and provide a comprehensive preview of their savings, spending, transactions, and other operations through real-time notifications and alerts. On the other hand, neobanks provide a small range of product offerings in comparison to conventional banks, which is anticipated to hamper the growth of the market. Another problem faced by neobanks is profitability as they provide services below cost in order to appeal new customers.
The financial industry aims to integrate technology with financial operations and developing customer-centric services. Due to this, new participants such as neobanks are having a massive influence on the financial industry. Neobanking helps businesses in reducing operational costs and expanding their gross profit.
Based on Account Type, the market is segmented into Business Account and Savings Account. Based on Application, the market is segmented into Enterprises, Personal and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Neobanking Market in North America is expected to register a CAGR of 46.2% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atom Bank PLC, Monzo Bank Ltd., Moven Enterprises, N26 GmbH, Revolut Ltd., Ubank Limited, WeBank Co., Ltd., Banco Bilbao Vizcaya Argentaria SA (Simple Finance Technology), Deutsche Bank AG, and Sopra Steria Group SA (Fidor Solutions AG).
Scope of the Study
Market Segments Covered in the Report:
By Account Type
- Business Account
- Savings Account
By Application
- Enterprises
- Personal
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Companies Profiled
- Atom Bank PLC
- Monzo Bank Ltd.
- Moven Enterprises
- N26 GmbH
- Revolut Ltd.
- Ubank Limited
- WeBank Co., Ltd.
- Banco Bilbao Vizcaya Argentaria SA (Simple Finance Technology)
- Deutsche Bank AG
- Sopra Steria Group SA (Fidor Solutions AG)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Neobanking Market, by Account Type
1.4.2 North America Neobanking Market, by Application
1.4.3 North America Neobanking Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Geographical Expansions
3.2.4 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, May – 2020, Nov) Leading Players
Chapter 4. North America Neobanking Market by Account Type
4.1 North America Neobanking Market Business Account Market by Country
4.2 North America Neobanking Market Savings Account Market by Country
Chapter 5. North America Neobanking Market by Application
5.1 North America Enterprises Market by Country
5.2 North America Personal Market by Country
5.3 North America Others Market by Country
Chapter 6. North America Neobanking Market by Country
6.1 US Neobanking Market
6.1.1 US Neobanking Market by Account Type
6.1.2 US Neobanking Market by Application
6.2 Canada Neobanking Market
6.2.1 Canada Neobanking Market by Account Type
6.2.2 Canada Neobanking Market by Application
6.3 Mexico Neobanking Market
6.3.1 Mexico Neobanking Market by Account Type
6.3.2 Mexico Neobanking Market by Application
6.4 Rest of North America Neobanking Market
6.4.1 Rest of North America Neobanking Market by Account Type
6.4.2 Rest of North America Neobanking Market by Application
Chapter 7. Company Profiles
7.1 Atom Bank PLC
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Recent strategies and developments:
7.1.3.1 Partnerships, Collaborations, and Agreements:
7.1.3.2 Acquisition and Mergers:
7.1.3.3 Product Launches and Product Expansions:
7.2 Monzo Bank Ltd.
7.2.1 Company Overview
7.3 Moven Enterprise
7.3.1 Company Overview
7.4 N26 GmbH
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Partnerships, Collaborations, and Agreements:
7.4.2.2 Product Launches and Product Expansions:
7.4.2.3 Geographical Expansions:
7.5 Revolut Ltd.
7.5.1 Company Overview
7.5.2 Recent strategies and developments:
7.5.2.1 Partnerships, Collaborations, and Agreements:
7.5.2.2 Product Launches and Product Expansions:
7.5.2.3 Geographical Expansions:
7.6 Ubank Limited
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Research & Development Expense
7.7 WeBank Co., Ltd.
7.7.1 Company Overview
7.8 Banco Bilbao Vizcaya Argentaria SA (Simple Finance Technology)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.9 Deutsche Bank AG
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Recent strategies and developments:
7.9.4.1 Partnerships, Collaborations, and Agreements:
7.9.4.2 Geographical Expansions:
7.10. Sopra Steria Group SA (Fidor Solutions AG)
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Partnerships, Collaborations, and Agreements:
TABLE 1 North America Neobanking Market, 2016 - 2019, USD Million
TABLE 2 North America Neobanking Market, 2020 - 2026, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Neobanking Market
TABLE 4 Product Launches And Product Expansions– Neobanking Market
TABLE 5 Geographical Expansions– Neobanking Market
TABLE 6 Acquisition and Mergers– Neobanking Market
TABLE 7 North America Neobanking Market by Account Type, 2016 - 2019, USD Million
TABLE 8 North America Neobanking Market by Account Type, 2020 - 2026, USD Million
TABLE 9 North America Neobanking Market Business Account Market by Country, 2016 - 2019, USD Million
TABLE 10 North America Neobanking Market Business Account Market by Country, 2020 - 2026, USD Million
TABLE 11 North America Neobanking Market Savings Account Market by Country, 2016 - 2019, USD Million
TABLE 12 North America Neobanking Market Savings Account Market by Country, 2020 - 2026, USD Million
TABLE 13 North America Neobanking Market by Application, 2016 - 2019, USD Million
TABLE 14 North America Neobanking Market by Application, 2020 - 2026, USD Million
TABLE 15 North America Enterprises Market by Country, 2016 - 2019, USD Million
TABLE 16 North America Enterprises Market by Country, 2020 - 2026, USD Million
TABLE 17 North America Personal Market by Country, 2016 - 2019, USD Million
TABLE 18 North America Personal Market by Country, 2020 - 2026, USD Million
TABLE 19 North America Others Market by Country, 2016 - 2019, USD Million
TABLE 20 North America Others Market by Country, 2020 - 2026, USD Million
TABLE 21 North America Neobanking Market by Country, 2016 - 2019, USD Million
TABLE 22 North America Neobanking Market by Country, 2020 - 2026, USD Million
TABLE 23 US Neobanking Market, 2016 - 2019, USD Million
TABLE 24 US Neobanking Market, 2020 - 2026, USD Million
TABLE 25 US Neobanking Market by Account Type, 2016 - 2019, USD Million
TABLE 26 US Neobanking Market by Account Type, 2020 - 2026, USD Million
TABLE 27 US Neobanking Market by Application, 2016 - 2019, USD Million
TABLE 28 US Neobanking Market by Application, 2020 - 2026, USD Million
TABLE 29 Canada Neobanking Market, 2016 - 2019, USD Million
TABLE 30 Canada Neobanking Market, 2020 - 2026, USD Million
TABLE 31 Canada Neobanking Market by Account Type, 2016 - 2019, USD Million
TABLE 32 Canada Neobanking Market by Account Type, 2020 - 2026, USD Million
TABLE 33 Canada Neobanking Market by Application, 2016 - 2019, USD Million
TABLE 34 Canada Neobanking Market by Application, 2020 - 2026, USD Million
TABLE 35 Mexico Neobanking Market, 2016 - 2019, USD Million
TABLE 36 Mexico Neobanking Market, 2020 - 2026, USD Million
TABLE 37 Mexico Neobanking Market by Account Type, 2016 - 2019, USD Million
TABLE 38 Mexico Neobanking Market by Account Type, 2020 - 2026, USD Million
TABLE 39 Mexico Neobanking Market by Application, 2016 - 2019, USD Million
TABLE 40 Mexico Neobanking Market by Application, 2020 - 2026, USD Million
TABLE 41 Rest of North America Neobanking Market, 2016 - 2019, USD Million
TABLE 42 Rest of North America Neobanking Market, 2020 - 2026, USD Million
TABLE 43 Rest of North America Neobanking Market by Account Type, 2016 - 2019, USD Million
TABLE 44 Rest of North America Neobanking Market by Account Type, 2020 - 2026, USD Million
TABLE 45 Rest of North America Neobanking Market by Application, 2016 - 2019, USD Million
TABLE 46 Rest of North America Neobanking Market by Application, 2020 - 2026, USD Million
TABLE 47 Key Information –Atom Bank PLC
TABLE 48 Key Information – Monzo Bank Ltd.
TABLE 49 Key Information – Moven Enterprises
TABLE 50 Key Information – N26 GmbH
TABLE 51 Key Information – Revolut Ltd.
TABLE 52 key information – Ubank Limited
TABLE 53 key Information – WeBank Co., Ltd.
TABLE 54 Key Information – Banco Bilbao Vizcaya Argentaria SA
TABLE 55 key information – Deutsche Bank AG
TABLE 56 Key Information – Sopra Steria Group SA
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2016-2020)
FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2016, May – 2020, Nov) Leading Players
FIG 5 Recent strategies and developments: Atom Bank PLC
FIG 6 Recent strategies and developments: N26 GmbH
FIG 7 Recent strategies and developments: Revolut Ltd.
FIG 8 Recent strategies and developments: Deutsche Bank AG