Los Angeles, CA -- (SBWIRE) -- 04/11/2019 -- Neo and Challenger Bank are fintech based financial providers that provided services digitally, includes companies that applied for their own banking license (categorized as Challenger Banks). and companies that partnered with a traditional bank to provide those financial services (categorized as Neo banks).

Existing neo and Challenger banks have set up marketplaces to provide customer-centric products as part of their collective mission to provide more than a digital version of traditional banking. The marketplaces may be in their infancy, but they are growing in terms of the products they offer and level of integrations. In doing so, neo and Challenger banks will service a far wider segment of customers than a traditional bank as they vie to become the centre of solving the wider customer need.

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Neo and Challenger Bank market is developing unbalanced based on regions. In 2018, Europe is holding the largest market share for Neo and Challenger Bank market due to its active and booming banking service market. U.S., China, India and other Asia countries are expected to witness higher growth rates on account of relaxations in regulatory requirements, high penetration of internet and smartphones, and large untapped consumer base in these countries.

The global Neo and Challenger Bank market is highly competitive and fragmented due to the presence of numerous small vendors in the market. Atom Bank, WeBank (Tencent Holdings Limited), N26, Starling Bank and Tandem Bank are key Neo and Challenger Bank service providers in Global Neo and Challenger Bank market. Other prominent players in the market include Movencorp, Simple Finance Technology, Fidor Group, etc. Growing mobile adoption and new regulations will help challengers expand services.

In 2018, the global Neo and Challenger Bank market size was 2800 million US$ and it is expected to reach 30100 million US$ by the end of 2025, with a CAGR of 40.4% between 2019 and 2025.

This report studies the Neo and Challenger Bank market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the global top players, covered

Atom Bank

Movencorp

Simple Finance Technology

Fidor Group

N26

Pockit

Ubank

Monzo Bank

MyBank (Alibaba Group)

Holvi Bank

WeBank (Tencent Holdings Limited)

Hello Bank

Koho Bank

Rocket Bank

Soon Banque

Digibank

Timo

Jibun

Jenius

K Bank

Kakao Bank

Starling Bank

Tandem Bank

Market segment by Regions/Countries, this report covers

North America

Europe

China

Rest of Asia Pacific

Central & South America

Middle East & Africa

Market segment by Type, the product can be split into

Neobanks

Challenger Banks

Market segment by Application, the market can be split into

Personal Consumers

Business Organizations

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