Press release
Global Neobanking Market Projected to Grow at 47.1% CAGR, Reaching $1228.17 Billion by 2029
Neobanking
How Large Will the Neobanking Market Size By 2025?
The scale of the neobanking industry has witnessed considerable expansion recently. From a projection of $176.05 billion in 2024, it is anticipated to increase to $262.36 billion in 2025, reflecting a compound annual growth rate (CAGR) of 49.0%. Several factors have bolstered growth during the historic period which include consumer's preference for convenience and cost-effectiveness, regulations, globalization along with cross-border transactions, initiatives aimed at financial inclusivity and the utilization of big data.
How Big Is the Neobanking Market Size Expected to Grow by 2029?
Expectations are high for a significant surge in the size of the neobanking market in the upcoming years. The prediction is for the market to enlarge to $1228.17 billion by 2029, marking a compound annual growth rate (CAGR) of 47.1%. The anticipated growth during this forecast period can be credited to factors such as the introduction of open banking, the development of embedded finance, the emergence of challenger banks, broadening of product portfolios, and extending beyond traditional banking services. Fundamental trends for this forecast period include the integration of open banking systems, collaborations with fintech and tech titans, the application of AI and machine learning in personal finance, and the advent of virtual and contactless banking features along with a customer-oriented approach.
View the full report here:
https://www.thebusinessresearchcompany.com/report/neobanking-global-market-report
Which Key Market Drivers Powering Neobanking Market Expansion and Growth?
The surge in digitalization needs among global banking institutions is facilitating the growth of the neobanking sector. This digital banking refers to the complete digitization of all banking processes, replacing physical bank locations with a consistent online presence, removing the necessity for customers to visit branches. Traditional financial services are becoming automated due to digital banking. It enables bank customers to utilize banking services and products through online or electronic platforms. Neobanking supports bank digitalization by allowing financial firms to operate online without physical branches and by providing digital counterparts for all banking services. Through the use of technologies like artificial intelligence, automation and cloud computing, neobanks are able to deliver highly individualized services at lower costs. For example, as predicted by Softtek, a Mexico-based IT company, digital banking is forecasted to bring in approximately $8.646 billion by 2025. Hence, the rising demand for banking sector digitalization is anticipated to stimulate the growth of the neobanking market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7061&type=smp
Which Fast-Growing Trends Are Poised to Disrupt the Neobanking Market?
The progression of technology is a driving force behind the surge in the neobanking industry. Neobank services leverage the use of artificial intelligence to boost their efficiency. AI can offer users with individualized solutions and sensible notifications, significantly assisting them in saving money and providing convenience. It's beneficial in making credit decisions, managing risk, conducting trades, and customizing services. For example, BranchX, a pioneering Indian neobank, gained recognition in July 2024 by becoming India's first neobank to offer personal loans through the Open Network for Digital Commerce (ONDC). This effort is designed to improve financial accessibility for India's large population, specifically focusing on the growing middle class, young professionals, small business operators, and entrepreneurs who frequently encounter difficulties in obtaining conventional loans.
What Are the Emerging Segments in the Neobanking Market?
The neobanking market covered in this report is segmented -
1) By Account Type: Business Account, Savings Account
2) By Service: Mobile Banking, Payments And Money Transfer, Checking/Savings Account, Loans, Other Services
3) By Application: Enterprises, Personal, Other Application
Subsegments:
1) By Business Account: Sole Proprietorship Accounts, Partnership Accounts, Corporate Accounts, Freelancer Accounts
2) By Savings Account: Regular Savings Accounts, High-Interest Savings Accounts, Goal-Based Savings Accounts, Joint Savings Accounts
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7061&type=smp
Who Are the Global Leaders in the Neobanking Market?
Major companies operating in the neobanking market include Webank Inc., Nubank, Chime Financial Inc., SoFi Technologies Inc., Green Dot Corporation, Robinhood Markets Inc., Revolut Ltd., Upgrade Inc., Monzo Bank Ltd., Aspiration Inc., N26 GmbH, Starling Bank Ltd., Ubank Limited, Bunq BV, Daylight Financial Corp, Vivid Money GmbH, Monese Ltd., Varo Money Inc., Current Financial Inc., Acorns Grow Inc.
Which are the Top Profitable Regional Markets for the Neobanking Industry?
Western Europe was the largest region in the neobanking market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neobanking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7061
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Neobanking Market Projected to Grow at 47.1% CAGR, Reaching $1228.17 Billion by 2029 here
News-ID: 4113703 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Account
How to create binomo account?
Creating an account on Binomo is a straightforward process that opens the door to a world of online trading opportunities. Whether you're new to trading or have experience, the platform offers a user-friendly interface that makes the registration process quick and easy.
Step 1: Visit the Binomo Website
To get started, you'll first need to visit the official Binomo website. Simply enter https://binomo.ai/ into your browser's address bar and hit enter. This…
The SignStix New Senior Account Manager
SignStix is pleased to announce that Brian Holcroft has been appointed as the new Account Manager at SignStix. Brian is the newest recruit to the SignStix team to help our partners introduce the SignStix solution to even more customers.
With an impressive track record in new business development freelance work, Brian has accumulated more than 20 years of commercial sales and marketing experience across multiple industries and market sectors.
Prior to joining…
How to delete your LinkedIn account?
How to delete LinkedIn account? Step By Step
Do you want to delete your LinkedIn account? Have you come across an old account that isn't active anymore? Do you wish to close your current account and create a new one? You'll learn how to do it with the help of this guide. For a variety of reasons, you may desire to delete your LinkedIn account. LinkedIn is different, while most social…
Merchant account solutions
Acqualtscards As a favorable self-ruling Pro independent association of portion courses of appropriate action, we mutually support you at every independent movement of your business development.Since its private foundation, Acqualtscards has substantiated itself and to its potential clients to be one of the fundamental worldwide providers of re-appropriating and white imprint answers for electronic portion trades.
Acqualtscards offers Credit cards processing for Online business around the globe, including those for retailers/maker…
LeoPrime Introduces New Cent Account
LeoPrime is delighted to officially announce that we now offer our clients the opportunity to trade with a cent account, which will allow them to trade in cents while becoming familiar with trading.
Jaya Kumar, LeoPrime’s Group Head, said “The provision of the cent account opens many channels of opportunity of success for our loyal traders. With only a small deposit traders can test themselves and gain confidence in trading.…
Account Based Marketing
Today, most of the marketing organizations are moving towards the Account Based Marketing ( ABM ) . The ABM approach has been there for years but the recent technologies available have made this approach scalable and hence more effective and popular.
The traditional marketing approach has been around attracting your prospects from a larger pool. The account based marketing is about targeting accounts based on your best business connection. It is…
