The news: Neobanks need to adjust their short- and long-term strategies to survive in an uncertain economic environment and remain a dominant force in the banking space.
What’s happening? After a profusion of large investments in neobanks in 2021, investors are now looking for a return on their investments in the form of sustainable profits.
In our report, Neobanks Confront Uncertainty: How Challengers Can Create a Lifeline as Funding Dries Up, we look at what neobanks can do in the short term to stay alive, and highlight some bigger changes on the horizon that could spell trouble for the struggling entities.
Short-term trends: Neobanks must act fast to turn themselves around. Here’s what they can start doing in the short term to keep going.
Long-term changes: Neglecting the short-term adjustments will lead to insurmountable long-term changes in the banking space that will make survival impossible.
Go deeper: To read more about our recommendations on how neobanks can cut their costs, reach profitability, and satisfy their customer base, click here.