New Jersey, NJ -- (SBWire) -- 02/07/2019 --The banking sector has traditionally been a monopoly, with the global biggest institutions upholding a relatively unchallenged control. Though, a new breed of digital-only neobanks are starting to break this hold. Neobanking is a new banking technology which delivers complete online banking solutions to its customers. These banks are different from traditional banks, such as they have no physical offices as well as branches. This type of banking allows all banking solutions, from opening an account to other services, deprived of the requirement to go to a bank.

Major Key Players in This Report Include,
The Bank of America Corporation (United States), Deutsche Bank AG (Germany) , Citigroup Inc. (United States) , Simple Finance Technology (United States) , Atom Bank (United Kingdom) , Movencorp (United States) , HSBC Holdings plc (United Kingdom) , MyBank (China) and WeBank (China) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are N26 (Germany), Digibank (India), Fidor Bank (Germany) and Revolut Ltd (United Kingdom).

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Currently, due to low competition, Neobanks are enjoying a co-operative environment. Easy procedures of account opening, transactions, etc. are robust driving factors for the market. Furthermore, the user interface of the Neobank websites provides it an upper hand. However, the authenticity as well as financial security factors may limit the market growth. The unstoppable rise of neobanks is expected to impel the growth of the global neobanking market over the coming years.

The market study is being classified by Type (STK , BREW and WAP), by Application (Personal Application , Enterprise Application and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America) , Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific) , Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe) , MEA (Middle East, Africa) , North America (United States, Canada, Mexico) .

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The EU's common standards are helping neobanks, they allow a neobank to rapidly expand its customer base, safe in the knowledge it is obeying with regulatory standards. N26, for instance, has now expanded into 17 different markets meanwhile it was founded five years ago. In current years, though, the EU's progressive approach to financial regulation has opened the sector up to greater rivalry. The original Payment Services Directive, that became law in November 2009, improved industry transparency and offer

Table of Content
1. Market Overview
1.1. Introduction
1.2. Scope/Objective of the Study
1.2.1. Research Objective
2. Executive Summary
2.1. Introduction
3. MarketDynamics
3.1. Introduction
3.2. Market Drivers
3.2.1. Growing demand for customer convenience in the banking sector
3.2.2. The emergence of multiple technology startups & early adoption technology
3.2.3. Low Interest Rates and Favorable Government Regulations
3.3. Market Challenges
3.3.1. Currency fluctuations
3.4. Market Trends
3.4.1. Inclination towards mobile baking
4. Market Factor Analysis
4.1. Porters Five Forces
4.2. Supply/Value Chain
4.3. PESTEL analysis
4.4. Market Entropy
4.5. Patent/Trademark Analysis
5. Global Neobanking, by Type, Application and Region (value) (2013-2018)

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