Are Neobanks poised to stay in financial landscape?

Are Neobanks poised to stay in financial landscape?

Neobanks have raised the concerns of the public everywhere in Europe. Revolut, N26, Nickel, Starling, Monzo etc. are already known as key players in the industry. Most of them have succeeded massive fundraisings and are quite close to announce new capital injections in the press or the launch of new products and services.

Despite impressive customer acquisition (more than 1 million customers for N26, twice much for Revolut…) none of these mobile-only neobanks have reached sustainable profitability.

Neobanks are still cash-burner companies and even if many of them are generously funded by venture capitalist or established commercial companies, they need to evolve if they expect to stay alive and last as key players on the banking scene.

In this article we will check if Neobanks are equipped to stay or not.

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Neo Banks - Why are they so hot nowadays?

Neo Banks - Why are they so hot nowadays?

The example of Revolut which is arguably taking the lead in Europe and beyond, being one of the most innovative.

Our world is changing and is changing fast. Over the past few years, there is been a bunch of new players launching their banking apps in Europe and all over the world. Compte Nickel, N26, Revolut, Atom, Fidor Bank, Starling Bank… to name a few of them. These new entrants are surfing on strong trends, benefitting from the dematerialized nature of their services and the easy accessibility through the app stores. Their marketing is eased by our increasing use of the social networks and the predominant place the internet has taken in our lives with an instant high-speed access in our pockets.

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