The number of US neobank account holders will continue to climb by 46.4% between 2022 and 2026, according to our “Neobanks Confront Uncertainty” report. But as VC dries up, neobanks will struggle to keep up with the incentives, low fees, and innovative products customers have come to expect.
To stay afloat, neobanks will need to cut down on perks and expenses in the short term and refocus on new revenue streams by launching new products and services. In the long term, neobanks may find success by capitalizing on consumer interest in super apps. They can do this by developing subscription-based offerings that bundle tax, investment, homeownership, and small business services.
3. Gen Z is changing banking