NEOBANKS VS INCUMBENTS IN THE SHADOW OF COVID-19

incumbents vs neobanks white paper

 

The neobank phenomenon had an effect on the entire sector, so the challenges investment service providers face cannot be understood by looking at them alone. In our White Paper, we take a closer look at how neobanks rose to prominence and then began to face increasingly serious problems that were brought into the spotlight by COVID-19. As well as drawing some general conclusions, we examine the investment and wealth management aspects and its intricacies of both the challengers and the traditional market players.

Here’s just a sample of some of our findings:

  • The number of neobanks is close to 300, ~39 million users globally, but five of the most well-known neobanks had a combined loss of more than $476 million in 2019
  • The usage time of Robinhood’s trading platform increased by 183% which generated $682 million in payment-for-order-flow revenue in 2020
  • There is a great chance for incumbents to emerge from COVID-19 in a position of strength

If you would like to learn more download our free white paper!

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