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Neobanks are growing rapidly and disrupting primary banking relationships Simon-Kucher, the world’s leading commercial growth and pricing consultancy, released Neobanks are growing rapidly and disrupting primary banking relationships Simon-Kucher, the world’s leading commercial growth and pricing consultancy, released

Simon-Kucher’s Report Finds Neobanks Have Grown Past Niche Status Reaching 1.4 Billion Accounts Globally

Author: Globalfintechseries

Source: Globalfintechseries

2026/03/25 19:17

2 min read

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Neobanks are growing rapidly and disrupting primary banking relationships

Simon-Kucher, the world’s leading commercial growth and pricing consultancy, released Neobanking Beyond Disruption, a new report analyzing how digital-first banks are competing, scaling, and reshaping retail banking across global markets.

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Internationally, neobanks have added approximately 300 million customers over the last two years, positioning them among the fastest-growing banks in the world. These challenger banks are expanding revenues and customers at a pace incumbent institutions struggle to match.

“Neobanks are no longer a niche option for tech-savvy early adopters,” said Christoph Stegmeier, Senior Partner in the Financial Services practice at Simon-Kucher. “They now compete head-to-head with incumbents on customer acquisition, satisfaction, engagement, and relevance.”

The study identifies six trends shaping neobanking:

Neobanks are eroding the single-bank model as 72% of consumers maintain relationships with two or more providers.
The 18-29 cohort are the fastest adopters, but early career professionals between 30-39 reflect growing engagement and product adoption.
Consumers are turning to neobanks for newer, higher engagement categories such as crypto and investing.
Neobanks are outperforming traditional banks in overall customer satisfaction with 52% of customers satisfied with their primary neobank compared to 40% for large and national banks.
Regional banks are losing relevance among new clients and lagging in customer satisfaction and primary-bank considerations.
Consumers are switching to neobanks for incentives, primarily higher savings rates, greater cashback rewards, and fee-free checking.

Despite their rapid growth, neobanks still trail traditional banks in trust, perceived security, and breadth of services. While digital-first banks have gained market share in users, they only account for 5% of global retail banking revenues. In the US, profitability remains challenging as neobanks generate on average only $70 to $80 in annual revenue per customer.

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The post Simon-Kucher’s Report Finds Neobanks Have Grown Past Niche Status Reaching 1.4 Billion Accounts Globally appeared first on GlobalFinTechSeries.

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