Super Size: Digital Bank Market to Top $578 Billion by 2027

  • “The global neo and challenger bank market is projected to reach a valuation of approximately $578 billion by 2027, at a compounded annual growth rate (CAGR) of about 46.5% from 2019 to 2027.
  • As mentioned in the report, the global neo and challenger bank market was worth only around $18.6 billion back in 2018
  • Neobanks have increasingly been using artificial intelligence (AI) and machine learning (ML) to offer improved banking services.
  • A recent study by Juniper Research revealed that by 2024, the number of digital banking users will exceed 3.6 billion”

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