“This year alone, millennials will constitute 35% of the global workforce. Within a decade, their aggregate income will surpass $4 trillion. By 2030, MZ (Millennials and Gen Z) in the US will witness a five-fold increase in their wealth as they are set to inherit $68 trillion from their Baby Boomer parents A major bank…
Tag: neo bank
Report: 63% of APAC customers willing to switch to neobanks
“The era of digital banking is well underway in the Asia Pacific (APAC) region, and is set to accelerate in the next five years, with 63% of customers willing to switch to neobanks and challenger banks between now and 2025. The research was made through review of 55 banks, 20 challenger banks and 40 fintech…
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…
Digital bank Chime quadruples valuation in less than a year to $5.8 billion as it takes on megabanks
“Chime, the largest of a new breed of branchless U.S. banks, raised $500 million in a series E round it closed recently valuing the company at $5.8 billion, according to people with knowledge of the situation. That is a remarkable increase from its last round nine months ago, when it raised $200 million at a…