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Neobanking Market

The global neobanking market is anticipated to grow at a considerable CAGR of 49.4%

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Neobanking Market

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  1. Neobanking Market to see Huge Growth by 2029 The global neobanking market is anticipated to grow at a considerable CAGR of 49.4% during the forecast period (2022-2028). Popularity among SMEs and increasing number of partnerships of banks and organizations is boosting the global neobanking market. The partnership of organization with neo banks provides better customer service, safety and hassle free transactions. For instance, in April 2021 Bengaluru-based neobank Fi has partnered with Federal bank to issue an instant savings account, equipped with a debit card, in under 3 minutes to its employees. Also, in June 2022 Suryoday Small Finance bank, partnered with a neobank startup named Mobisafar to provide banking services through all Mobisafar’s franchisees and business correspondent networks across India. The partnership is aimed at strengthening financial inclusion by providing key banking services, digitally to the under-banked customers even at the remotest parts of the country. To Request a Sample of our Report on Neobanking Market https://www.omrglobal.com/request-sample/neobanking-market Moreover, neobanking is gaining popularity among retail customers and Small and Medium-sized Enterprises (SMEs). Neobanks offer easy and quick access to banking services through their apps or online platforms. Stress-free banking, low-cost business banking model, easy, fast & secure payments 24/7, smart, up-to-date reporting, digitized account opening, instant payments, e-bill generation, invoice management are some of the prominent features propelling the retail customers and SMEs to use neobanking services rather than traditional banks which is very time consuming and complex. According to Razorpay which is a neobank, Fintech startups across the globe, especially dealing in banking and financial services have more than 15 million consumers, out of which, over 50% of the consumers are acquired by neobanks itself. Moreover, for instance there are over 42.5 million small and medium-sized businesses throughout India, constituting nearly 95% of the total industrial units in the country. But, only 47% of these businesses have been able to access tools for payments, disbursals, and other vital processes. Which shows the demand and need for better banking services which neobanks can provide hence, boosting the market for neobanks. A full Report of Neobanking Market https://www.omrglobal.com/industry-reports/neobanking-market Market Coverage • • • The market number available for – 2021-2028 Base year- 2021 Forecast period- 2023-2029 Segment Covered- • • • By Account Type By Service By Application Regions Covered- • • • • • North America Europe Asia-Pacific Rest of the World Competitive Landscape- including atom bank plc, Fidor Bank AG, Monzo Bank Ltd., Movencorp, Inc., Preta S.A.S. and others. Key questions addressed by the report • • • • • • • • • What is the market growth rate? Which segment and region dominate the market in the base year? Which segment and region will project the fastest growth in the market? How COVID-19 impacted the market? Deviation from the pre-COVID-19 forecast Most affected region and segment Who is the leader in the market? How players are addressing challenges to sustain growth? Where is the investment opportunity? Global Neobanking Market Report Segment By Account Type • • Business Account Savings Account

  2. By Service • • • • Mobile Banking Payments & Money Transfer Checking/Savings Account Loans By Application • • Enterprises Personal For More Customized Data, Request for Report Customization https://www.omrglobal.com/report-customization/neobanking-market About Orion Market Research Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. Media Contact Company Name: Orion Market Research Contact Person: Mr. Anurag Tiwari Email: info@omrglobal.com Contact no: +91 780-304-0404

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