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Home Banking Financial Services and Insurance Banking India Neo Banking Market Forecast, Market Competition, Outlook to 2027: Ken Research

India Neo Banking Market Forecast, Market Competition, Outlook to 2027: Ken Research

Indian Neo Banking Industry Segmentation, 2022

By Application of Users

Neo Banking market in India can be segmented based on Purpose of Usage: Personal, Enterprise and Others where personal application users accounted for the highest market share of XX% as compared to the enterprise users and other users in the year 2021. Attributed to the fact that after Covid-19, there is an increase in online shopping rather than going to the stores, which in turn increased the Neo Banking usage.

By operation on Region

Neo Banking market in India can also be segmented on the basis of Region: North, West, East and South, where the regions are fairly distributed with West and South regions as the highest contributors at XX% of share, and Eastern region as the lowest share.

By Type of Account

Neo Banking market in India can be segmented on the basis of Type of Account: Saving Neo Banking Account and Current Neo Banking Account where Saving Neo Banking are dominating the Indian Neo Banking industry with market share of XX% when compared to the Current Neo Banking on the basis of revenue contribution in 2021.

By Age Group of Users

Neo Banking market in India can also be segmented on the basis of Age Group of Users: <20, 20-40, >40. Age Group between 20 and 40 captures the major market share of XX% in 2021 on the basis of revenue contribution due to high internet and technology penetration among the Gen Y segment of the population.

Competitor Analysis of Neo Banking Players

Neo Banking industry is fragmented with multiple players and comparison has been done on qualitative and quantitative aspects among the major players in the Industry such as Revenue, Expenses, Users, Investments and more.

Company Profiling of Major Players

Company profile of major players mentioning the key players, incorporation time, financial information FY’17-21, Strength, Strategies, Recent development has been mentioned in the report for majority of the Neo Bank in the country.

Future Outlook and Projection

Indian Neo banking industry is expected to expand with a CAGR of XX% in between FY’22 and FY’27 on the basis of revenue generated. It is anticipated that Neo Banking industry will grow owing to factors such as increasing internet penetration and better product offerings in a competitive landscape in the coming years. India has been culturally conservative towards online banking and it is always believe in physical contact with the official. But new-age start-ups are very focused on changing this mentality by creating awareness about how Neo Bankings can be used for normal banking activities. Many new Neo Banks will be entering the Indian Neo Banking space by offering services to individuals and corporates. All Neo banks in this space are trying to attract customers through their digital offerings and will witness significant growth in new customers in the coming years. Banks and Card providers like VISA, Mastecard are also exploring partnerships with Neo Banking players to acquire new customers to their platforms. Traditional players need to take a cue from these players to enhance their offerings in the coming future. Teenagers are the untapped banking customer segment with no major offerings by the traditional players which has been overcome by Neo Banks such as FamPay, Akudo and more.

Key Segments Covered in Indian Neo banking Industry:-

Indian Neo banking Market

By Type of Accounts



By Region of Operation





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By Type of Application




By Age of Users

Less than 20

Between 20-40

More than 40

Overview of India Neo banking Industry

Cross Comparison of Indian Neo banking Industry Players

Value Chain Analysis of Neo Banks

Investment Analysis in Neo Banking companies

Neo Banking Industry Analysis

Key Target Audience

Neo Banking Players

Credit Based Neo Banks

Payment Gateway Banks

Banking Institutions Payment System Operators

Associated or affiliated Banks with Neo Banks

Regulatory Bodies for Neo banking Players


Various Card holder providers

New Entrants in Neo banking Space

Potential Neo banking Users

Time Period Captured in the Report:-

Historical Period: FY’2017-FY’2021

Forecast Period: FY’2022-FY’2027F

Indian Neo banking Industry Players/Ecosystem

Neo Banks




EscrowPay Neobank


Avail Finance


Fi Money



Karbon Card





Mahila Money

Payment Gateways

PayU Money

CC Avenue






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Key Topics Covered in the Report:-

Overview and Genesis of Indian Neo Banking Market

India Neo Banking Industry Cycle

Overview of Neo Banking Services/ Products

Consumption Expenditure and Borrowing Trends

Socio-Demographic Outlook of India

India Neo Banking Industry Introduction

Ecosystem of Entities in the Indian Neo Banking Industry

Value Chain Analysis of Neo Banking

India Neo Banking Market Sizing on the basis of Revenue and Number of players in the Neo Banking Industry

India Neo Banking Market Segmentation (By Type of Accounts, By Region of Operation, By Type Application and By Age Group of Users).

Cross Comparison of Major Players in Neo Banking Industry

Trends and Developments

Growth Drivers of the Indian Neo Banking Industry

Issues and Challenges in the Indian Neo-Banking Industry

Role of Government and Regulations in the Indian Neo-Banking Industry

Risk Involved and COVID Impact in Business Operations

Porter’s five forces Analysis of the Indian Neo-Banking Industry

SWOT Analysis of the Indian Neo-Banking Industry

Investment Analysis of the Indian Neo Banking Industry

Investment Timeline of the Indian Neo Banking Industry

Investment Segmentation basis of type of Investment, Type of Investor

Increase in number of Neo Banking start-ups

Future Outlook and Projection for Market Sizing

Future Outlook and Projection for Market Segmentation

Computation of Addressable Market

Growth of Digital Lending

Company profile of major Neo Banks’s players operating in the ecosystem (Company Overview, About the Company, Revenue Model, Funding and Investors, Key Features, Fee Structure, Product Offered, Strengths, Recent Developments, Key Takeaways and Financials)

Industry Speaks

Research Methodology

For More Information on the research report, refer to below link:-

Indian Neo Banking Industry

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Ken Research
Ankur Gupta, Head Marketing & Communications


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