Leading neo-banks ranked by number of customers in France 2020
In 2020, N26 was leading the ranking of neo-banks in France. The German neo-bank, offering to open an account without salary condition,had 1.7 million customers. Revolut, the British bank, which supports spending and ATM withdrawals in 120 currencies came second with one million customers as of 2020.
Neo-banks
Over the last few years, the economic development of fintechs has led to the development of neo-banks in France and in the world. Neo-banks are financial technology firms offering digital or mobile-only financial services that are imposing their model in France. This new type of banks attract more and more French customers, notably due to their service cost, cheaper that the ones offered by a traditional bank. The enthusiasm around neo-bank in France is a part of an infatuation for mobile banking in general.
Mobile banking in France
With a constantly growing number telecommunication technology services and of smartphone users in France, mobile banking has become a part of French people's everyday life. Many banking services such as checking an account, transferring money or viewing bank statements are among the most common financial activities conducted through a mobile phone in France. Furthermore, the importance of banking applications in the daily lives of the French does not seem set to diminish: with the COVID-19 health crisis, about a third of the French population said they had been encouraged to consult their mobile application more often.
Neo-banks
Over the last few years, the economic development of fintechs has led to the development of neo-banks in France and in the world. Neo-banks are financial technology firms offering digital or mobile-only financial services that are imposing their model in France. This new type of banks attract more and more French customers, notably due to their service cost, cheaper that the ones offered by a traditional bank. The enthusiasm around neo-bank in France is a part of an infatuation for mobile banking in general.
Mobile banking in France
With a constantly growing number telecommunication technology services and of smartphone users in France, mobile banking has become a part of French people's everyday life. Many banking services such as checking an account, transferring money or viewing bank statements are among the most common financial activities conducted through a mobile phone in France. Furthermore, the importance of banking applications in the daily lives of the French does not seem set to diminish: with the COVID-19 health crisis, about a third of the French population said they had been encouraged to consult their mobile application more often.
