The transaction value in the 'Neobanking' segment of the fintech market in Japan was forecast to continuously increase between 2023 and 2027 by in total 183.6 billion U.S. dollars (+103.6 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 360.84 billion U.S. dollars and therefore a new peak in 2027. Notably, the transaction value of the 'Neobanking' segment of the fintech market was continuously increasing over the past years.
Data provided by Statista Market Insights are estimates.
Definition:
A neobank is a type of challenger bank that operates solely digitally. Neobanks are newly established banks that do not belong to large conventional banks. They do not have any physical branches and can provide their services both via mobile or desktop devices. They require their clients to go through a digital onboarding process, most frequently via smartphone. Neobanks can be of two types: those which have a banking license and those that do not.
Additional Information:
The most popular neobanks include Revolut, Chime, Nubank, N26, and Monzo.
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Statista. (June 26, 2023). Transaction value of the financial tech sector in Japan from 2018 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector
Statista. "Transaction value of the financial tech sector in Japan from 2018 to 2027 (in billion U.S. dollars)." Chart. June 26, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector
Statista. (2023). Transaction value of the financial tech sector in Japan from 2018 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector
Statista. "Transaction Value of The Financial Tech Sector in Japan from 2018 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 26 Jun 2023, https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector
Statista, Transaction value of the financial tech sector in Japan from 2018 to 2027 (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector (last visited November 10, 2024)
Transaction value of the financial tech sector in Japan from 2018 to 2027 (in billion U.S. dollars) [Graph], Statista, June 26, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/forecasts/1305218/japan-transactional-value-of-fintech-sector
