Neobanks reach 1.4 billion accounts worldwide, Simon-Kucher report finds

Neobanks now hold about 1.4 billion accounts worldwide and have added roughly 300 million customers over the past two years, consultancy Simon-Kucher said in a report published on 25 March 2026.

"Neobanks are no longer a niche option for tech-savvy early adopters," said Christoph Stegmeier, senior partner for financial services at Simon-Kucher. The report, Neobanking Beyond Disruption, identifies six trends shaping the sector. GROWTH OUTPACES REVENUE

Despite their scale, neobanks account for only about 5% of global retail banking revenue, the report found, with average annual revenue per customer in the US of $70 to $80. Simon-Kucher said 72% of consumers now hold relationships with two or more banking providers, eroding the traditional single-bank model. Adoption is fastest among 18- to 29-year-olds, with engagement also growing among those aged 30 to 39. Higher savings rates, cashback and fee-free current accounts were the main reasons customers switched, and the consultancy found growing consumer take-up of crypto and investment products.

LEADERS REPORT SCALE AND PROFITS

The largest players continue to expand. Revolut reported on 24 March that its profit before tax rose 57% to $2.3 billion in 2025 as revenue increased 46% to $6.0 billion. Its retail customer base grew 30% to 68.3 million and customer balances rose 66% to $67.5 billion. Net profit increased to $1.7 billion from $1.0 billion, marking a fifth consecutive year of profitability, and the company filed for a US national bank charter in March. Nu Holdings, Nubank's parent, ended 2025 with 131 million customers across Brazil, Mexico and Colombia, while Chime reported 9.5 million active members in the fourth quarter of 2025.