Global Neo and Challenger Bank are expected to make a significant contribution to the overall industry.

According to a lead Analyst "Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future.". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.

According to the report, some of the important driving forces behind the market growth are “The Upscale of Services Offered, Favorable Government Regulations and Adoption of New Fintech”. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Players, additional restraints impacting market are “Being Online Only Maybe Insufficient to Maintain Strong Customer Relationship and Good Customer Experience is Hard to Build and Harder to Maintain” which is continuously seeking attention of Industry Experts and Decision makers.

The Neo and Challenger Bank Ecosystem: 2021-2027 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the Neo and Challenger Bank market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2021 till 2027. The forecasts are segmented by Type (Neo Bank and Challenger Bank {Small Challenger, Large Challenger}), by Application (Personal  and Business) 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).

Data Sources & Methodology

The primary sources involves the industry experts from the Neo and Challenger Bank Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.

In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.