The research, undertaken by SEON, sourced the percentage of people with a neobank by country and the predicted percentage of people who will use a neobank by 2027 from Finder to reveal where in the world most people have a neobank account.
According to a survey by Finder, around 43% of Brazilians have a neobank account, putting them in first place as the country that uses digital banking the most.
According to current population estimates, that equates to around 91,719,000 people. The digitization of the economy has been accelerated by the pandemic and, as a result, popular neobanks have seen their client base grow exponentially.
Brazil is home to Latin America’s biggest neobank, NuBank, which has over 48 million users.
In second place, the study found that 26% of Indians use a digital-only bank. Looking at India’s current population, around 356,553,704 could be neobank account holders.
Innovating the banking sector in India, neobanks offer their customers convenience, 24-hour support and often reduced costs. Importantly, they can also help serve the unbanked and underbanked, if they employ alternative credit scoring and similar innovations.
Ireland is one of the countries using neobanking the most, with around 22% of Irish people using a digital-only bank.
According to current population estimates, around 1,127,178 residents currently use neobanking. Finder predicts this could increase to 34% by 2027.
In the Philippines, around 13% of the population currently use neobanks, but Finder predicts that by 2027 that figure will be around 33%, representing around 33,323,874 people.
By 2027, 41% of Mexican residents will use neobanking.
Wise comes in first place on our list as the neobank which has raised the most capital from investors, currently at $13 billion.
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