Market Overview:
The global online banks market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for online banking services from individual consumers and enterprise users. In addition, the growing adoption of mobile banking and cloud-based banking solutions is also contributing to the growth of this market. The global online banks market can be segmented on the basis of type into those with their own bank licence and those that are partnered with other banks. The former segment is expected to account for a larger share of the global online banks market than the latter during the forecast period. This can be attributed to factors such as ease of use and convenience offered by these banks, which has led to an increase in their adoption among consumers worldwide. On the basis of application,the global online banksmarket can be divided into individual consumersand enterprise users.
Product Definition:
An online bank is a bank where customers can conduct their banking transactions over the internet. Online banks offer their customers the convenience of banking from home or work, without having to go to a physical bank location.
The importance of online banks is that they offer customers more convenience and flexibility than traditional brick-and-mortar banks. Customers can access their accounts 24/7, and can do most of their banking transactions (such as checking account balances, transferring money between accounts, and paying bills) without having to leave home. Additionally, many online banks offer competitive interest rates on deposits and low or no fees on certain transactions.
With Own Bank Licence:
With own bank licence, we mean the license that a financial institution has to offer its customers when it comes to operating in the country where the financial institution is based and also providing services across national borders. With own bank license, a financial service provider (FSP) can operate in any country with only one set of rules and meet all regulatory requirements of that particular country. The FSP just needs to follow those rules which are specific for that given country.
Partnered With Other Banks:
Partnered With Other Banks (SWOPO) is a feature that allows users to link their accounts with other banks. It helps in enhancing the features of online banking by providing various benefits such as faster and accurate transactions, real-time account monitoring, and better customer service.
Application Insights:
The enterprise users segment dominated the global online banks market in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing adoption of e-commerce and digital banking solutions by large organizations. For instance, in July 2016, Citibank announced its plan to integrate Microsoft¢â‚¬â„¢s cloud computing platform for its online banking services across multiple geographies. The integration was done via Citibank API platform and Microsoft Azure cloud computing platform. Such initiatives are expected to drive the demand for e-banking platforms among enterprises globally, thereby fueling growth of the overall market during future years.
Online consumer applications are anticipated to witness considerable growth over the forecast period due largely on account of rising disposable income levels among consumers globally coupled with easy access provided through smartphones and other mobile devices worldwide.
Regional Analysis:
North America dominated the global online banks market in 2017. The growth of this region can be attributed to the presence of a large number of players, high usage rates for internet banking, and favorable government policies. In North America, there are over 700 internet users owing to the growing adoption rate for online banking among consumers as well as enterprises. Furthermore, factors such as increasing smartphone penetration and changing consumer behavior patterns have contributed to increased demand for mobile based financial services in this region which is expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to increasing awareness about digital money transfer technologies coupled with rising disposable income levels among consumers especially in developing countries such as India and China.
Growth Factors:
- Increasing demand for online banking services from consumers and businesses
- Rising preference for digital banking channels among customers
- Proliferation of mobile devices and apps that facilitate banking transactions
- Emergence of new technologies such as cloud, big data, and artificial intelligence that can improve online banking operations
- Growing number of partnerships between banks and technology companies to develop innovative digital products
Scope Of The Report
Report Attributes
Report Details
Report Title
Online Banks Market Research Report
By Type
With Own Bank Licence, Partnered With Other Banks
By Application
Individual Consumers, Enterprise Users
By Companies
N26, Revolut, Starling Bank, Atom Bank, Yolt, Simple, Chime, WeBank, Sony Bank, Good Money, Up, Volt Bank, Xinja, K Bank
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Online Banks Market Report Segments:
The global Online Banks market is segmented on the basis of:
Types
With Own Bank Licence, Partnered With Other Banks
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individual Consumers, Enterprise Users
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- N26
- Revolut
- Starling Bank
- Atom Bank
- Yolt
- Simple
- Chime
- WeBank
- Sony Bank
- Good Money
- Up
- Volt Bank
- Xinja
- K Bank
Highlights of The Online Banks Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- With Own Bank Licence
- Partnered With Other Banks
- By Application:
- Individual Consumers
- Enterprise Users
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Online Banks Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Online banks are financial institutions that offer customers a variety of banking products and services online, including checking accounts, savings accounts, loans, and credit cards. Online banks typically offer lower fees than traditional brick-and-mortar banks and may also provide more convenient access to banking products.
Some of the major companies in the online banks market are N26, Revolut, Starling Bank, Atom Bank, Yolt, Simple, Chime, WeBank, Sony Bank, Good Money, Up, Volt Bank, Xinja, K Bank.
The online banks market is expected to register a CAGR of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Online Banks Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Online Banks Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Online Banks Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Online Banks Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Online Banks Market Size & Forecast, 2018-2028
4.5.1 Online Banks Market Size and Y-o-Y Growth
4.5.2 Online Banks Market Absolute $ Opportunity
Chapter 5 Global Online Banks Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Online Banks Market Size Forecast by Type
5.2.1 With Own Bank Licence
5.2.2 Partnered With Other Banks
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Online Banks Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Online Banks Market Size Forecast by Applications
6.2.1 Individual Consumers
6.2.2 Enterprise Users
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Online Banks Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Online Banks Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Online Banks Analysis and Forecast
9.1 Introduction
9.2 North America Online Banks Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Online Banks Market Size Forecast by Type
9.6.1 With Own Bank Licence
9.6.2 Partnered With Other Banks
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Online Banks Market Size Forecast by Applications
9.10.1 Individual Consumers
9.10.2 Enterprise Users
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Online Banks Analysis and Forecast
10.1 Introduction
10.2 Europe Online Banks Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Online Banks Market Size Forecast by Type
10.6.1 With Own Bank Licence
10.6.2 Partnered With Other Banks
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Online Banks Market Size Forecast by Applications
10.10.1 Individual Consumers
10.10.2 Enterprise Users
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Online Banks Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Online Banks Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Online Banks Market Size Forecast by Type
11.6.1 With Own Bank Licence
11.6.2 Partnered With Other Banks
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Online Banks Market Size Forecast by Applications
11.10.1 Individual Consumers
11.10.2 Enterprise Users
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Online Banks Analysis and Forecast
12.1 Introduction
12.2 Latin America Online Banks Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Online Banks Market Size Forecast by Type
12.6.1 With Own Bank Licence
12.6.2 Partnered With Other Banks
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Online Banks Market Size Forecast by Applications
12.10.1 Individual Consumers
12.10.2 Enterprise Users
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Online Banks Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Online Banks Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Online Banks Market Size Forecast by Type
13.6.1 With Own Bank Licence
13.6.2 Partnered With Other Banks
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Online Banks Market Size Forecast by Applications
13.10.1 Individual Consumers
13.10.2 Enterprise Users
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Online Banks Market: Competitive Dashboard
14.2 Global Online Banks Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 N26
14.3.2 Revolut
14.3.3 Starling Bank
14.3.4 Atom Bank
14.3.5 Yolt
14.3.6 Simple
14.3.7 Chime
14.3.8 WeBank
14.3.9 Sony Bank
14.3.10 Good Money
14.3.11 Up
14.3.12 Volt Bank
14.3.13 Xinja
14.3.14 K Bank
