Profits on the horizon
Since the rise of neobanking, the industry has attracted a myriad of investors and endless new players, with a staggering 100 neobanks launching each year.
In our 2022 Future of Neobanking report, we delved into the industry’s current status, its performance in key markets, and the path to profitability for these disruptors. Back then, this nearly billion-client industry, valued at over 300 billion dollars, grappled with a critical issue: Less than 5% of these challengers had managed to break even.
Monetization is the lighthouse in the storm
That’s why our brand-new 2023 Neobanking report looks at this fast growing industry through the monetization lens, focusing on three key areas:
The state of the industry
18 months after stating that only five percent or less of the neobanks were profitable, the number of non-profitable banks still by far exceeds the number of profitable banks. The good news is that there is evidence of a growing number of neobanks who appear to have cracked the code or are getting very close to doing so.
The secret sauce for success
How can you become a “Better Growth” neobank?
At Simon-Kucher, we are the advocates for sustainable and profitable growth.
To make that concept tangible, we launched a new measure of success for the sector, placing Neobanks on our “Better Growth” matrix, identifying those that achieved revenue growth with a clear lens on profitability.
Download our report to find out which 6 neobanks are positioned in our ‘Better Growth’ quadrant and what they do differently from the rest.
Profit hacking
Tangible ways to monetize neobanking clients
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Get in touch
With over three decades of experience working across financial services, Simon-Kucher supports retail banks across the financial services sector. As trusted advisors to banks of all sizes, we understand what it takes to grow in today’s challenging market.
Discuss the report in a one-to-one meeting with a member of our team.