The global neobanking market is anticipated to grow at a considerable CAGR of 49.4% during the forecast period. Popularity among SMEs and increasing number of partnerships of banks and organizations is boosting the global neobanking market. The partnership of organization with neo banks provides better customer service, safety and hassle free transactions. For instance, in April 2021 Bengaluru-based neobank Fi has partnered with Federal bank to issue an instant savings account, equipped with a debit card, in under 3 minutes to its employees. Also, in June 2022 Suryoday Small Finance bank, partnered with a neobank startup named Mobisafar to provide banking services through all Mobisafar’s franchisees and business correspondent networks across India. The partnership is aimed at strengthening financial inclusion by providing key banking services, digitally to the under-banked customers even at the remotest parts of the country.
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/neobanking-market
Moreover, neobanking is gaining popularity among retail customers and Small and Medium-sized Enterprises (SMEs). Neobanks offer easy and quick access to banking services through their apps or online platforms. Stress-free banking, low-cost business banking model, easy, fast & secure payments 24/7, smart, up-to-date reporting, digitized account opening, instant payments, e-bill generation, invoice management are some of the prominent features propelling the retail customers and SMEs to use neobanking services rather than traditional banks which is very time consuming and complex. According to Razorpay which is a neobank, Fintech startups across the globe, especially dealing in banking and financial services have more than 15 million consumers, out of which, over 50% of the consumers are acquired by neobanks itself. Moreover, for instance there are over 42.5 million small and medium-sized businesses throughout India, constituting nearly 95% of the total industrial units in the country. But, only 47% of these businesses have been able to access tools for payments, disbursals, and other vital processes. Which shows the demand and need for better banking services which neobanks can provide hence, boosting the market for neobanks.
Global Neobanking Market Report Segment
By Account Type
- Business Account
- Savings Account
By Service
- Mobile Banking
- Payments & Money Transfer
- Checking/Savings Account
- Loans
By Application
- Enterprises
- Personal
A full report of Neobanking Market available @ https://www.omrglobal.com/industry-reports/neobanking-market
Neobanking Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· BMTX, Inc.
· Chime Financial, Inc.
· Citigroup Inc.
· Dave, Inc.
· DBS Bank Ltd.
· Deutsche Bank AG
· HSBC Holdings Plc
· Monzo Bank Ltd.
· N26 GmbH
· Neo Financial Technologies Inc
· Nubank S.A.
Reasons to Buying From us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
Visit more report at
https://www.linkedin.com/pulse/scaffold-technology-market-size-trends-latest-arti-vishwakarma-mlsof/