Neobanking Industry Massive Growth Predicted (2024-2031)| Atom Bank PLC, Monzo Bank Ltd, SoFi Technologies, Inc., Nu Pagamentos S.A

DataM Intelligence has released a new research report on the Neobanking market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

The global neobanking market will grow at a high CAGR of 49.2% during the forecast period 2024- 2031.

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Neobanking refers to digital-only banking services that operate without traditional physical branches. These banks offer a range of financial services, including checking and savings accounts, loans, and payment processing, primarily through mobile apps and online platforms. Neobanks leverage technology to provide a user-friendly experience, lower fees, and innovative features such as real-time spending insights and budgeting tools. They often target tech-savvy consumers and small businesses looking for convenient and efficient banking solutions.

List of the Key Players in the Neobanking Market:

Atom Bank PLC, Monzo Bank Ltd, SoFi Technologies, Inc., Nu Pagamentos S.A, Revolut Inc., Tinkoff Bank, N26 GmbH, Ubank, Fidor Bank and WeBank Co., Ltd

Key Developments:

In April 2020, SoFi Technologies, Inc. completed its acquisition of 8 Limited, a Hong Kong-based investment services firm, for approximately US$ 16.1 million. This acquisition marks SoFi's first significant expansion outside the United States and aims to bolster its presence in the Asia-Pacific region.

Research Process:

Both primary and secondary data sources have been used in the global Neobanking Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Segment Covered in the Neobanking Market:

By Account Type: Business Account, Savings Account

By Service: Mobile Banking, Payments and Money Transfer, Checking/Savings Account, Loans, others

By Application (Enterprise, Personal, others)

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Neobanking market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Neobanking Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Neobanking market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Neobanking Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Neobanking market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Neobanking market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Neobanking market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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