- Due to increasing digital penetration and urbanization, Neo banks will be preferred over Traditional Banks in the next five years.
- Traditional Banks will face a threat to the Neo banking industry in the future due to the growing adoption of digital and cashless systems.
Rapid Urbanization: Increasing income of people along with growing standards of living in urban areas will propel usage of new consumer banking products and services, leading to increased demand for modern products specially. Movement of new generation and female workers to urban region is going to drive the demand over the recent years.
Adoption of Fin-tech: The COVID pandemic has led to highest fin-tech adoption rate in the country with the ever-growing transformation in BFSI at a rapid pace towards fin-tech products and services that bodes well for the Neo Banking Industry and its future. Banks and merchants are looking to collaborate with Neo Banking platforms to increase their market share and presence in the industry. The service range offered by Neo Banks are not available with the traditional banks, thus primed for massive growth going forward.
Increasing support: Introduction of United Payment Interface by government enabling multiple bank accounts payment from single application gave huge boost for the digital banking industry. There is high adoption of online payment service in the country, with continuously growing penetration in the digital banking space in the future. Neo Banks will serve as a major arm towards the growth of digitalization in the country with unique saving and investment features with the aim of financial inclusion towards different sections of the society, including but not limited to women, teenagers, gig economy, small entities, and more.
The publication titled “Indian Neo Banking Industry Outlook to 2027: Driven by adoption of Driven by adoption of contactless payments, Shifting Consumer Preferences towards Fin-Tech, Rising Market Players and digitalization” provides a comprehensive analysis of the Neo Banking industry in India. The report covers various aspects including Neo Banking industry market size on the basis of revenue, market overview, genesis of the market, Neo Banking industry Cycle, overview of Neo Banking services/ Products, ecosystem of entities in the Indian Neo Banking industry, consumption expenditure and borrowing trends, value chain analysis of Neo Bankings, growth drivers, role of Government and challenges, major trends and developments, SWOT Analysis, Porter analysis, Investment analysis and segmentation in the industry, timeline of Neo Banking industry growth, Risk Involved and COVID impact to the industry. Total addressable market, serviceable addressable market and serviceable obtainable market has been covered in the report. Insights on competitive landscape of Neo Banking industry including company profile of major Neo Banking players operating in the ecosystem has been covered. Further the report also focuses on the Indian Neo Banking Market Segmentation by type of users, by region, by type of application, by age group of users. The report concludes with projections for the future of the industry including forecasted industry size by revenue by 2027, and analysts’ take on the future highlighting the major opportunities.
Key Segments Covered in Indian Neo banking Industry:-
Indian Neo banking Market
By Type of Accounts
Saving
Business
By Region of Operation
North
West
South
East
By Type of Application
Personal
Enterprise
Other
By Age of Users
Less than 20
Between 20-40
More than 40
Overview of India Neo banking Industry
Cross Comparison of Indian Neo banking Industry Players
Value Chain Analysis of Neo Banks
Investment Analysis in Neo Banking companies
Neo Banking Industry Analysis
Key Target Audience
Neo Banking Players
Credit Based Neo Banks
Payment Gateway Banks
Banking Institutions Payment System Operators
Associated or affiliated Banks with Neo Banks
Regulatory Bodies for Neo banking Players
FinTechs
Various Card holder providers
New Entrants in Neo banking Space
Potential Neo banking Users
Time Period Captured in the Report:-
Historical Period: FY’2017-FY’2021
Forecast Period: FY’2022-FY’2027F
Indian Neo banking Industry Players/Ecosystem
Neo Banks
InstantPay
NiYO
Freo
EscrowPay Neobank
Open
Avail Finance
RazorPayX
Fi Money
Jupiter
FamPay
Karbon Card
OneBanc
FloBiz
ZikZuk
Akudo
Mahila Money
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Payment Gateways
PayU Money
CC Avenue
Paytm
Paypal
Instamojo
EBS
Cashfree
Key Topics Covered in the Report:-
Overview and Genesis of Indian Neo Banking Market
India Neo Banking Industry Cycle
Overview of Neo Banking Services/ Products
Consumption Expenditure and Borrowing Trends
Socio-Demographic Outlook of India
India Neo Banking Industry Introduction
Ecosystem of Entities in the Indian Neo Banking Industry
Value Chain Analysis of Neo Banking
India Neo Banking Market Sizing on the basis of Revenue and Number of players in the Neo Banking Industry
India Neo Banking Market Segmentation (By Type of Accounts, By Region of Operation, By Type Application and By Age Group of Users).
Cross Comparison of Major Players in Neo Banking Industry
Trends and Developments
Growth Drivers of the Indian Neo Banking Industry
Issues and Challenges in the Indian Neo-Banking Industry
Role of Government and Regulations in the Indian Neo-Banking Industry
Risk Involved and COVID Impact in Business Operations
Porter’s five forces Analysis of the Indian Neo-Banking Industry
SWOT Analysis of the Indian Neo-Banking Industry
Investment Analysis of the Indian Neo Banking Industry
Investment Timeline of the Indian Neo Banking Industry
Investment Segmentation basis of type of Investment, Type of Investor
Increase in number of Neo Banking start-ups
Future Outlook and Projection for Market Sizing
Future Outlook and Projection for Market Segmentation
Computation of Addressable Market
Growth of Digital Lending
Company profile of major Neo Banks’s players operating in the ecosystem (Company Overview, About the Company, Revenue Model, Funding and Investors, Key Features, Fee Structure, Product Offered, Strengths, Recent Developments, Key Takeaways and Financials)
Industry Speaks
Research Methodology
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