Tag "neobanking"

Neobanking Revenues Climb 43%; Total Number of Customers Surpasses 1 Billion Threshold Worldwide

The neobanking sector is undergoing significant changes where priorities are being shifted from rapid expansion to profitability. New data from Simon-Kucher indicate that the strategy has so far paid off, with an increasing number of neobanks reaching profitability and industry

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Digital Banking Adoption Rises X3 in France

Digital banking is booming in France, reaching a total of 25 million users in 2022, data from C-Innovation show. The figure represents an increase of more than threefold over a four year period and marks an impressive rise from the

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AI Neobanks McKinsey Study: Long-Term Success of Virtual Banks Hinges on Ability to Leverage AI, Data Analytics

Neobanks are proliferating around the world on the back of strong trends including technological advancements, regulatory changes and evolving customer expectations. And yet, despite the favorable market conditions, many are still struggling to turn a profit. For neobanks to be

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Neobanks Face Setbacks Amid High Cash Burns and Little Revenue Streams

A challenging economic environment, diminished funding and valuations, and increased scrutiny of regulators have put tremendous stress on neobanks around the world. Over the past few years, the industry has seen its fair share of business failures often due to

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5 Fintech Trends in Latin America

Latin America (LatAm)’s fintech revolution continues its course this year. Investors’ confidence remains high as they continue pouring billions into the space, betting on the prospect of fintech to help improve financial inclusion and bring innovation in the outdated banking

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Latin America Sees Booming Digital Banking Sector with Brazil at the Lead

Over the last few years, digital banking in Latin America (Latam) has experienced extraordinary growth on the back of changing customer needs, expanding technological penetration and rapidly evolving regulatory standards. Since 2017, the number of digital banks has more than

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An Overview of South America’s Booming Neobanking Sector

South America has seen an exceptionally dynamic evolution of its neobanking landscape, with now more than 30 live neobanks and digital banks that serve over 50 million customers out of the region’s 430 million+ population (+11%), data from Dutch fintech

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