Global Fintech Neobanking Market Size and Forecast by Services, End Users, Industry, Transaction Types, Revenue Model, and Region: Statistics | 2019-2032

Global Fintech Neobanking Market Growth and Performance

Key Takeaways:

• In 2023, the global fintech neobanking market size reached US$ 4.86 Trillion, witnessing a YoY growth of 26.7%.
• The market is projected to experience a significant upsurge in market revenue, reaching US$ 13.13 Trillion by the end of 2032.
• In terms of growth, the global fintech neobanking market is anticipated to expand at a CAGR of 11.8% between 2024 and 2032.
• The deposIT accounts segment is projected to experience a significant upsurge in market revenue, reaching US$ 6.47 Trillion by the end of 2032.
• The fintech neobanking market is expected to witness an absolute dollar opportunity of US$ 8.28 Trillion between 2024 and 2032.
• Among the diverse regions within this market, North America fintech neobanking market took the lead, reaching a market value of US$ 1.68 Trillion in 2023.
• The fastest growing market among regions is Latin America, experiencing a CAGR of 22.2% between 2024 and 2032.
• While all the leading countries are still important, US ruled as the leading market in the global fintech neobanking industry in 2023.
• Among the diverse end users, IT and telecom was the largest end-user vertical in terms of spending in the market in 2023.
• The global fintech neobanking market is mainly driven by integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) for real-time fraud detection and prevention and growth of cross-border e-commerce and payment solutions.
• Key players in the fintech neobanking sector are strategically focusing on partnerships, market expansion, and targeted investment strategies to enhance their offerings and increase market share. For instance, In May 2024, London-based Fintech Farm announced its expansion into India, backed by a $32 million investment. Specializing in partnering with banks in emerging markets, Fintech Farm offers a "neobank in a box" solution, providing full operational support for digital banking. Their services include debit and credit cards, as well as investment options. This strategic move strengthens their global footprint and aims to transform the digital banking landscape in India.
• Also, in February 2024, Revenued, a leading fintech specializing in simplifying financial management for small businesses, announced its first neobank partnership with Found, a fintech dedicated to making self-employment easier. This strategic alliance aims to address key challenges faced by small businesses, such as access to capital. It will also enable business owners to establish a separate business account, qualifying them for Revenued’s financial products and enhancing overall financial management capabilities.

Fintech Neobanking Market Scope

Fintech Neobanking Industry: Regional Coverage