May 1, 2021

UK Neobank Account Holders, by Company, 2021-2025 (millions)

Note

A digital-only bank is the brand with which the consumer engages, but may itself be a licensed bank (such as Ally Bank in the US, a legacy bank that moved into consumer banking with a digital-only product, Monzo in the UK, which is a startup that has acquired a banking license, and Tangerine in ... Canada, a digital-only subsidiary of legacy bank Scotiabank) or may have a partnership with existing licensed banks (such as Chime in the US, Revolut in the UK, and Koho Bank in Canada, which operate accounts through partnered licensed financial institutions).More

Methodology

Estimates are based on the analysis of data from respective bank corporate disclosures, reported and estimated non-interest expenses from major banks, estimates from other research firms, historical trends, GDP trends, technology expense trends, and macro-level economic conditions.