Neobanks are taking small- and medium-sized business (SMB) banking by storm, leveraging incumbents' difficulties in meeting SMB needs and expectations and capitalizing on reduced barriers to market entry. While these competitive advantages transcend most individual markets, certain geography-specific factors can promote or restrict neobank growth at the local level.
Three Key Questions This Report Will Answer:
WHAT’S IN THIS REPORT? In this report, Insider Intelligence explores the key factors driving an explosion of neobank activity in the SMB segment and the strategies these upstarts are leveraging to capture shares of this lucrative banking vertical. First, we examine the conditions that created a fertile environment for neobanks to offer their services to SMBs, including the challenges incumbents have faced when it comes to serving these businesses profitably. We then outline the operational advantages that have enabled neobanks to overcome the challenges faced by their incumbent peers. Finally, we explore the key neobank markets around the world and the players at the forefront of the movement in each geography.
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