$471 Billion Worldwide Neo and Challenger Bank Market

The Global Neo and Challenger Bank Market is estimated to grow at a CAGR of 48.1% during the forecast period 2020-2027. As per the detailed market study, the neo and challenger bank industry is anticipated to record $471.0 Billion by the end of the year 2027.

Neo bank offer services to businesses and individuals completely through digital platforms such as web platforms and mobile apps with no physical presence hence also known as digital banks. Some of the examples of neo banks are MEMORYBANK, ING Direct, EQ Bank, pepper, bankmobile, Virgin money, Carrefour, MYbank, TESCO bank and many more. While challenger banks are integration of financials and technology that is used to streamline retail banking.