US neobanks are pursuing a range of strategies in their efforts to drive account holder growth, becoming a true threat for incumbents. 

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. These challenges combined with an economic downturn will heighten competitive pressure, making it more important than ever for neobanks to revise their growth projections for metrics like users and accounts.