Reduced fees of personalized and innovative services is expected to drive market expansion in the near future at a CAGR of 52.90% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Neobanking Market” that contains information from 2018 to 2032. The Neobanking market is estimated to register a CAGR of 52.90% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Neobanking market— Atom Bank PLC, Fidor Bank Ag, Monzo Bank Limited, Movencorp Inc., Mybank, N26, Revolut Ltd., Simple Finance Technology Corporation, Ubank Limited, and Webank, Inc. and others

Market Highlights

The global neobanking market is accounted to register a CAGR of 52.90% during the forecast period and is estimated to reach USD 3009.90 Billion by 2032.

Neobanking market disrupts traditional banking with digital-first approaches, offering convenient and user-centric financial services, attracting tech-savvy customers seeking streamlined banking experiences.

Segment Analysis

The global neobanking market has been segmented based account type and application.

On the basis of account type, the market is segmented into business account and savings account. The business account segment dominated the market in 2022. Business accounts may offer highly developed financial management features that are specifically geared to the needs of businesses, such as functionality for managing payroll, invoicing, and taxes.

Based on application, the global neobanking market has been segmented into enterprises, personal and others. The enterprises category generated the most income in 2022. Large companies are aware of how important it is to adopt technological advancements in order to remain competitive.

Regional Analysis

The global neobanking market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe neobanking market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The neobanking market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World neobanking market comprises of Middle East, Africa, and Latin America.

The North America neobanking market dominated this market in 2022 (45.80%). Some clients in North America dislike traditional banking models because to their high fees, lack of innovation, and drawn-out processes. Customers who are dissatisfied with Neobanks' emphasis on cheaper costs, easy-to-use interfaces, and cutting-edge technology can be related to this.

Moreover, the second-largest market share belongs to Europe. The revised payment services directive (PSD2) of the European Union has had a considerable impact on the Neobanking environment. PSD2, which allows third-party providers to access financial information with customer consent, promotes open banking. Neobanks have streamlined the banking process and provided cutting-edge services by utilising APIs (Application Programming Interfaces).

Additionally, the Asia-Pacific neobanking market is expected to grow at the fastest CAGR from 2023 to 2032. Traditional banks in Asia-Pacific are coming under increasing threat from neobanks. Neobanks are more prepared than traditional banks to offer sophisticated, customer-centered financial solutions. This forces traditional banks to innovate and offer more options for digital banking.

Furthermore, the rest of the world's neobanking market is divided into the Middle East, Africa, and Latin America. Neobanking is gaining traction in Latin America, offering innovative digital banking solutions to a tech-savvy population seeking seamless and personalized financial services.

Key Findings of the Study

• The global neobanking market is expected to reach USD 3009.90 Billion by 2032, at a CAGR of 52.90% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. Neobanks are putting traditional banks in Asia-Pacific under more and more pressure. Neobanks are better equipped than traditional banks to provide cutting-edge, client-focused financial solutions.


• Based on application, the enterprises segment was attributed to holding the largest market in 2022.


• Atom Bank PLC, Fidor Bank Ag, Monzo Bank Limited, Movencorp Inc., Mybank, N26, Revolut Ltd., Simple Finance Technology Corporation, Ubank Limited, and Webank, Inc. and others