Europe Neobanking Market Worth $1,038.24 Billion By 2032 CAGR 51.4%

Europe Neobanking Market Size Worth $1,038.24 Billion By 2032 | CAGR: 51.4%

The Europe neobanking market size is expected to reach USD 1,038.24 Billion by 2032, according to a new study by Polaris Market Research. The report “Europe Neobanking Market Share, Size, Trends, Industry Analysis Report, By Account Type (Business Account, Savings Account, Others); By Service Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The development of the latest technologies and the rapid acceptance of altering bank systems accounted for the growth of the market in the Europe region. Additionally, banks are concentrating on creating product platforms and forming alliances in order to strengthen their position in the market. Many neobanks in the region have established conventional distribution channels to develop an online-to-offline (O2O) distribution model, which could aid in the potential expansion of the market. Neobanks are digital banks without physical branches. The entire banking process in Neobank is digital or through mobile-based banking solutions.

The main reason for the development of the neobanks in Europe is ascribed to the comparatively easier mechanisms. Neobanks provide greater transparency and lower interest rates to their customers. The Payment Services Directive Law has aided the rise of neobanks in Europe by granting them comparable functionalities and access to customer data as traditional banks. Neobanks are well-positioned to maintain their leading role in embracing cutting-edge technologies like Artificial Intelligence, blockchain, and biometrics. They aim to deliver banking services that are not only more efficient but also more secure.

Neobanks have a great potential for growth owing to their cost-effective approach for end users in Europe. These banks provide banking services with minimal or no monthly fees, including maintaining a minimum balance, deposits, and withdrawals. Their market expansion is fueled by factors such as quicker loan approval and funding processes compared to traditional banks, along with lower interest rates facilitated through banking applications.

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Several neobanks have integrated cryptocurrencies and blockchain technology into their services, allowing customers to manage their digital assets through the neobanking app. Revolut, a London-based neobank, is one example of how it enables its users to easily purchase, sell, and transfer cryptocurrencies with transparency and no hidden fees, all with the click of a button.

Europe Neobanking Market Report Highlights

  • The business account segment is accounted for the largest market share in the market. The business accounts in the Europe neobanks usually have accessible interfaces that permit simple navigation and access to an assortment of financial tools.
  • The mobile banking segment held the largest market share; leading neobanks in Europe are providing debit cards and accounts cards that can be easily managed through a mobile app.
  • Germany has witnessed the fastest growth in the market. German fintech is the second largest market in Europe. Also, the rising adoption of new banking platforms and entirely digital banking experience are driving market growth in the region.
  • The key market players include Atom Bank PLC, Banco Bilbao Vizcaya Argentaria SA, Bunq, Deutsche Bank AG, Moven Enterprises, Monzo Bank Ltd., N26 GmbH, Revolut Ltd., Sopra Steria Group SA, Ubank Limited, and WeBank Co., Ltd.

Polaris Market Research has segmented the Europe neobanking market report based on account type, service type, application, and country:

Europe Neobanking, Account Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Business Account
  • Savings Account
  • Others

Europe Neobanking, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Mobile Banking
  • Loans
  • Payments and Money Transfer
  • Checking/Savings Account
  • Others

Europe Neobanking, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Enterprise
  • Personal
  • Others

Europe Neobanking, Country Outlook (Revenue - USD Billion, 2019 - 2032)

  • Germany
  • France
  • Italy
  • U.K
  • Russia
  • Spain
  • Rest of Europe

Europe Neobanking Market Report Scope

Report Attributes


Market size value in 2024

USD 37.64 billion

Revenue forecast in 2032

USD 1,038.24 billion


51.4% from 2024 – 2032

Base year


Historical data

2019– 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Account Type, By Service Type, By Application, By Region

Country scope

Germany, France, Italy, U.K., Russia, Spain, and Rest of Europe.


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