Mobile Internet

The report shows that global digital banking will flourish in 2020

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The following is the The report shows that global digital banking will flourish in 2020 recommended by recordtrend.com. And this article belongs to the classification: Mobile Internet.

Digital Banking has become the benchmark of financial technology with its simple interface, intelligent functions and a large amount of venture capital. At present, there are nearly 300 so-called “new banks” online in the world, and nearly half of them are concentrated in Europe. At the same time, new players are constantly joining in, especially in Latin America, Africa and the Middle East. The upsurge was fueled by continued investor enthusiasm for the industry, with the new bank raising more than $2 billion in venture capital worldwide this year alone.

Customers are also riding the wave of new banks. The pitchbook report estimates that 145 million people in North America and Europe alone will use these apps by 2024. For the sake of clarity, “new bank” is defined here as providing its own retail banking services, i.e. prepaid card, debit card and credit card, which will be launched after 2010 and will be a mobile centric application.

Since 2017, the number of new global banks has tripled, from 100 to nearly 300. This means that in the past three years, a new bank has been launched somewhere in the world every five days, according to Exton, a consultancy that runs the global consumer banking application database.

However, the global new banks may finally reach a peak and slow down in 2020, which is not only a simple “covid effect”, but also due to the increasing saturation of new banks. In fact, 30 new banks have been wound up since 2015. However, the new bank’s boom has not completely stalled. In the face of the epidemic, more than 30 new banks were launched, including zelf, daylight and TENPO in Chile.

Meanwhile, there are still dozens of new players planning to go online in 2021, including Woli in Greece and vybe in France. Among them, the UK is a particular hot spot, with 37 new banks (one third of the total in Europe). It is now the most active new banking market in the world, thanks to its first mover advantage and strong digital infrastructure in this area.

There may be hundreds of new banks around the world, but only a few are in the lead. Chime, headquartered in the United States, ranks first in global valuation with a value of US $14.5 billion, while nubank in Brazil ranks first with the largest number of customers, claiming to have 30 million users. At the same time, South Korea’s kakao bank has raised the most capital and has so far attracted $2.5 billion in investment.

MIT: how to be a real digital bank? Deloitte Consulting: consumer survey report of Global Digital Banking in 2019 (download attached) camia: Vietnam’s Digital Banking still has a lot of room for development GP.Bullhound Financial technology report in the third quarter of 2019 Digital Banking Manifesto: the end of banking? (with download) Nielsen: survey report on the use of digital retail banking of the rich in the United States (with report) emarketer: millennials spend more and more time on Digital Banking PwC: Digital Banking will become a priority for depositors in 2015 Synopsys: 91% of commercial apps contain obsolete or abandoned open source components China Internet Association: 2020 China’s Internet development report 1.3 billion internet users pay 249 trillion yuan online wechat: in 2020, wechat war “epidemic” data report small program supermarket business type visit increased by 115% year on year, apple 2020 latest financial report released, how to refine the “highest quarterly revenue” in history

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