Revolutionising Neobanking: unlocking profits and sustained growth
With funding becoming scarcer, neobanks face mounting pressure to transition from unchecked growth to a focus on profitability. Over the last 18 months, the number of new neobank launches barely exceeds the number of closures. However, both revenues and customer numbers continue to rise impressively.[London, 31st October 2023] – A significant shift is underway in the neobanking sector. Rather than prioritising rapid expansion, profitability is now under the spotlight. The 'Future of Neobanking – Profits at the End of the Tunnel' report by global consultancy Simon-Kucher delves into this