Neobanks have grown their user base fast, but they may have bitten off more than they can chew. Now they are facing an existential threat as venture capital dries up. Some will not survive, opening an opportunity for neobanks that do successfully navigate to become the dominant players.
Key Question: How should neobanks adjust their short- and long-term strategies amid uncertain economic conditions to survive?
KEY STAT: The number of US neobank account holders will grow by 46.4% from 2022 to 2026, per our forecast—though neobanks may struggle to keep delivering on the lavish incentives, low to no fees, and innovative products that they used to lure in these users.
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