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The Global Economics
  • Banking
    Saudi National Bank Receives Approvals from Shareholders

    Saudi National Bank Receives Approvals from Shareholders

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    Saudi Central Bank Launches Instant Payment System Sarie

    Saudi Central Bank Launches Instant Payment System Sarie

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    Commercial Bank Launches New Payment Feature Through Wearables

    Commercial Bank Launches New Payment Feature Through Wearables

    Kenanga Investment Bank Acquires i-VCAP Management

    Kenanga Investment Bank Acquires i-VCAP Management

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Bank ABC Signs Acquisition Deal with Lebanese BLOM Bank for $480 Million

    Bank ABC Signs Acquisition Deal with Lebanese BLOM Bank for $480 Million

    Howden and Steadfast Join Hands to Launch Australian Broking Operation

    Howden and Steadfast Join Hands to Launch Australian Broking Operation

  • Finance
    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Turkey: Behavioral Pattern of FDI in 2020

    Turkey: Behavioral Pattern of FDI in 2020

    PayNow Collaborates with Three E-Wallet Companies for Seamless Fund Transfer

    PayNow Collaborates with Three E-Wallet Companies for Seamless Fund Transfer

    Visa Collaborates with Pliant, Launches Business Credit Card in Germany

    Visa Collaborates with Pliant, Launches Business Credit Card in Germany

    Kuwait-based Agility Invests $35 Million in Queen’s Gambit Growth Capital

    Kuwait-based Agility Invests $35 Million in Queen’s Gambit Growth Capital

    Siemens Healthineers Collaborates with British Hospital Operator in $169 Million Deal

    Siemens Healthineers Collaborates with British Hospital Operator in $169 Million Deal

    Kuaishou Technology All Set to Raise $5.4 Billion in IPO

    Kuaishou Technology All Set to Raise $5.4 Billion in IPO

    Tower Capital Asia Raises $250 Million on First Closing on Southeast Asian Fund

    Tower Capital Asia Raises $250 Million on First Closing on Southeast Asian Fund

  • Technology
    Huawei Launches Regional Center for Asia-Pacific Region

    Huawei Launches Regional Center for Asia-Pacific Region

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    Facebook News Launches in the U.K. With New Local and National Partnerships

    Facebook News Launches in the U.K. With New Local and National Partnerships

    UK and Japan Sign £12M Worth Nuclear Decommissioning Deal

    UK and Japan Sign £12M Worth Nuclear Decommissioning Deal

    Ethio Telecom Reports 12% Growth in H1 Revenue Worth $693 Million

    Ethio Telecom Reports 12% Growth in H1 Revenue Worth $693 Million

    Nokia Bags 5G Contract from Proximus Luxembourg

    Nokia Bags 5G Contract from Proximus Luxembourg

    Cisco Acquires Two European Companies to Boost User Engagement

    Cisco Acquires Two European Companies to Boost User Engagement

    Amazon Launches IP Accelerator for SMBs Across Europe

    Amazon Launches IP Accelerator for SMBs Across Europe

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    US Government Grants Qualcomm Permission to Sell 4G Chips to Huawei

  • Insurance
    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    QIIG and SAP Partner up on Digital Transformation Deal

    QIIG and SAP Partner up on Digital Transformation Deal

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    French Insurer AXA Sells Gulf Business for $269 Million

    French Insurer AXA Sells Gulf Business for $269 Million

    Aviva Plc Sells Italian Life Insurance Venture to Partner UBI Banca

    Aviva Plc Sells Italian Life Insurance Venture to Partner UBI Banca

  • Energy
    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    BIS Launches Second Green Bond Investment Fund for Central Banks

    BIS Launches Second Green Bond Investment Fund for Central Banks

    DP World Signs Agreement to Develop New Superport in Senegal

    DP World Signs Agreement to Develop New Superport in Senegal

    Macquarie Approves £3 Billion Funding of U.K. Green Projects

    Macquarie Approves £3 Billion Funding of U.K. Green Projects

    PT PJBI and Masdar Establish Joint Venture for First Indonesian Floating Solar Power Plant

    PT PJBI and Masdar Establish Joint Venture for First Indonesian Floating Solar Power Plant

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    Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

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    Abu Dhabi Gives Green Signal to ADNOC to Bolster Muruban Futures

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    Australia’s NSW Reveals $23 Billion Renewable Energy Boost

  • Real Estate
    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

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    What Brexit Means for Property Market: Key Issues in 2021

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    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

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    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Invesco Real Estate Acquires GAM Investment Property Debt Fund Finance

    Invesco Real Estate Acquires GAM Investment Property Debt Fund Finance

    Aviva Investors to Invest GBP 10 Billion into UK Real Estate for Next Three Years

    Aviva Investors to Invest GBP 10 Billion into UK Real Estate for Next Three Years

    Saudi Arabia Imposes 5% Tax, Exempts VAT from Property Deals

    Saudi Arabia Imposes 5% Tax, Exempts VAT from Property Deals

  • Awards
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  • Banking
    Saudi National Bank Receives Approvals from Shareholders

    Saudi National Bank Receives Approvals from Shareholders

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    Saudi Central Bank Launches Instant Payment System Sarie

    Saudi Central Bank Launches Instant Payment System Sarie

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    Commercial Bank Launches New Payment Feature Through Wearables

    Commercial Bank Launches New Payment Feature Through Wearables

    Kenanga Investment Bank Acquires i-VCAP Management

    Kenanga Investment Bank Acquires i-VCAP Management

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Bank ABC Signs Acquisition Deal with Lebanese BLOM Bank for $480 Million

    Bank ABC Signs Acquisition Deal with Lebanese BLOM Bank for $480 Million

    Howden and Steadfast Join Hands to Launch Australian Broking Operation

    Howden and Steadfast Join Hands to Launch Australian Broking Operation

  • Finance
    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Turkey: Behavioral Pattern of FDI in 2020

    Turkey: Behavioral Pattern of FDI in 2020

    PayNow Collaborates with Three E-Wallet Companies for Seamless Fund Transfer

    PayNow Collaborates with Three E-Wallet Companies for Seamless Fund Transfer

    Visa Collaborates with Pliant, Launches Business Credit Card in Germany

    Visa Collaborates with Pliant, Launches Business Credit Card in Germany

    Kuwait-based Agility Invests $35 Million in Queen’s Gambit Growth Capital

    Kuwait-based Agility Invests $35 Million in Queen’s Gambit Growth Capital

    Siemens Healthineers Collaborates with British Hospital Operator in $169 Million Deal

    Siemens Healthineers Collaborates with British Hospital Operator in $169 Million Deal

    Kuaishou Technology All Set to Raise $5.4 Billion in IPO

    Kuaishou Technology All Set to Raise $5.4 Billion in IPO

    Tower Capital Asia Raises $250 Million on First Closing on Southeast Asian Fund

    Tower Capital Asia Raises $250 Million on First Closing on Southeast Asian Fund

  • Technology
    Huawei Launches Regional Center for Asia-Pacific Region

    Huawei Launches Regional Center for Asia-Pacific Region

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    Facebook News Launches in the U.K. With New Local and National Partnerships

    Facebook News Launches in the U.K. With New Local and National Partnerships

    UK and Japan Sign £12M Worth Nuclear Decommissioning Deal

    UK and Japan Sign £12M Worth Nuclear Decommissioning Deal

    Ethio Telecom Reports 12% Growth in H1 Revenue Worth $693 Million

    Ethio Telecom Reports 12% Growth in H1 Revenue Worth $693 Million

    Nokia Bags 5G Contract from Proximus Luxembourg

    Nokia Bags 5G Contract from Proximus Luxembourg

    Cisco Acquires Two European Companies to Boost User Engagement

    Cisco Acquires Two European Companies to Boost User Engagement

    Amazon Launches IP Accelerator for SMBs Across Europe

    Amazon Launches IP Accelerator for SMBs Across Europe

    US Government Grants Qualcomm Permission to Sell 4G Chips to Huawei

    US Government Grants Qualcomm Permission to Sell 4G Chips to Huawei

  • Insurance
    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    QIIG and SAP Partner up on Digital Transformation Deal

    QIIG and SAP Partner up on Digital Transformation Deal

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    French Insurer AXA Sells Gulf Business for $269 Million

    French Insurer AXA Sells Gulf Business for $269 Million

    Aviva Plc Sells Italian Life Insurance Venture to Partner UBI Banca

    Aviva Plc Sells Italian Life Insurance Venture to Partner UBI Banca

  • Energy
    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    BIS Launches Second Green Bond Investment Fund for Central Banks

    BIS Launches Second Green Bond Investment Fund for Central Banks

    DP World Signs Agreement to Develop New Superport in Senegal

    DP World Signs Agreement to Develop New Superport in Senegal

    Macquarie Approves £3 Billion Funding of U.K. Green Projects

    Macquarie Approves £3 Billion Funding of U.K. Green Projects

    PT PJBI and Masdar Establish Joint Venture for First Indonesian Floating Solar Power Plant

    PT PJBI and Masdar Establish Joint Venture for First Indonesian Floating Solar Power Plant

    Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

    Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

    Abu Dhabi Gives Green Signal to ADNOC to Bolster Muruban Futures

    Abu Dhabi Gives Green Signal to ADNOC to Bolster Muruban Futures

    Australia’s NSW Reveals $23 Billion Renewable Energy Boost

    Australia’s NSW Reveals $23 Billion Renewable Energy Boost

  • Real Estate
    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    What Brexit Means for Property Market: Key Issues in 2021

    What Brexit Means for Property Market: Key Issues in 2021

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Invesco Real Estate Acquires GAM Investment Property Debt Fund Finance

    Invesco Real Estate Acquires GAM Investment Property Debt Fund Finance

    Aviva Investors to Invest GBP 10 Billion into UK Real Estate for Next Three Years

    Aviva Investors to Invest GBP 10 Billion into UK Real Estate for Next Three Years

    Saudi Arabia Imposes 5% Tax, Exempts VAT from Property Deals

    Saudi Arabia Imposes 5% Tax, Exempts VAT from Property Deals

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The Unstoppable Rise of Neo Banks in Europe

The Global Economics by The Global Economics
May 30, 2019
in Banking
Reading Time: 1min read
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Businesswoman Using Smartphone in the Modern Bank Lobby

Businesswoman Using Smartphone in the Modern Bank Lobby

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A new breed of digital-only neo banks is rising frequently to capitalize on indignation stroke towards the industry’s requisites. The major characteristics that lead to the growth of neo banks are accessibility, cost-effective multiple banking, and financial functionalities under one roof. Apart from these, even fintech companies are introducing IT solutions that are mainly focused on manual labours and the underserved needs of limited credit data on MSMEs.

In 2018, the neo banks across the globe were valued at $18.6 billion. However, in the year 2019 to 2026, it is claimed that the value may increase with a double-digit CAGR of 46%. Specifically, in European neo banks, the customer base has raised by more than 15 million. According to the research by AT Kearney, the European neo banks could have up to 85 million customers by 2023.

For instance, N26- the largest valued neo bank in Europe, has expanded its operations into 17 different countries since its inception. At present, Revolut and N26 are the best performing neo banks in Europe based on userbase. A recent survey illustrates that if these two banks continue their current trends, they could see a combined total of nearly 24 million customers by December 2020. As both banks continue to expand their operations into new countries, the customer numbers are likely to rise. Till now the European market has not been majorly shattered. But, this picture could change, if neo banks introduce more impressive models and traditional banks continue to lag technological developments.

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The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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