Neo- and challenger banks have become more and more popular in recent years, attracting an increasing number of customers particularly among younger generations. Traditional banks and financial institutions also started to acknowledge the potential of these new players in the financial sector. According to a yearly survey carried out between 2020 and 2023 among executives at banks and credit unions in the United States, the share of respondents who saw neo- and challenger banks as a competitive threat for traditional banking increased steadily between 2020 and 2022, from 14 percent to 33 percent. However, as of 2023, the share of executives who saw challenger banks as a threat fell back to 21 percent.
Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023
Basic Account
Get to know the platform
You only have access to basic statistics.
This statistic is not included in your account.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Digital banks worldwide
Overview
7
- Premium Statistic Global market volume of neobanks 2017-2028
- Premium Statistic Leading challenger banks worldwide 2023, by valuation
- Premium Statistic Number of new challenger banks worldwide 2014-2022
- Premium Statistic Number of digital banks worldwide 2024, by region
- Premium Statistic Value of deposits at digital banks worldwide 2017-2023, with forecasts to 2028
- Premium Statistic Net interest income of digital banks worldwide 2017-2023, with forecasts to 2028
- Premium Statistic Net interest income of digital banks worldwide 2023, by country
Funding
3
Users
8
- Premium Statistic Mobile and online banking penetration worldwide 2023, by country
- Premium Statistic Number of customers at selected digital banks worldwide 2023
- Premium Statistic Number of customers at selected digital banks in the U.S. 2023
- Premium Statistic Number of customers at selected digital banks in Europe 2023
- Premium Statistic Number of users at selected digital banks in Latin America 2023
- Premium Statistic Leading neobanks in France 2023, by number of users
- Premium Statistic Estimated customer growth of Revolut 2018-2024
- Premium Statistic Number of European online banking app downloads worldwide 2015-2023, by bank
Opinions
8
- Premium Statistic Executives who see challenger banks as threat for traditional banking U.S. 2020-2023
- Premium Statistic Leading reasons for opening an app-only bank account Great Britain 2023
- Premium Statistic Neobanking and neobrokerage popularity in the U.S. 2023, by brand
- Premium Statistic Neobanking and neobrokerage popularity in the UK 2023, by brand
- Premium Statistic Neobanking and neobrokerage popularity in Germany 2023, by brand
- Premium Statistic Brand awareness and popularity of selected neobanks and neobrokers in India 2023
- Premium Statistic Brand awareness and popularity of selected neobanks and neobrokers in Brazil 2023
- Premium Statistic Brand awareness and popularity of selected neobanks and neobrokers in Mexico 2023
Leading players
8
- Premium Statistic Total assets of Nubank 2015-2022
- Premium Statistic Gross profit of Nubank 2019-2022
- Premium Statistic Total assets of Revolut 2015-2022
- Premium Statistic Profit/loss after tax of Revolut 2015-2022
- Premium Statistic Total assets of WeBank 2016-2022
- Premium Statistic Net profit of WeBank 2016-2022
- Premium Statistic Total assets of N26 2016-2021
- Premium Statistic Annual net profit/loss of N26 2016-2022
Further related statistics
19
- Banking channels used in the U.S. 2014, by frequency
- Mobile banking services usage rate South Korea 2023, by income
- Mobile banking usage rate South Korea 2023
- Reasons for using traditional bank's mobile banking services South Korea 2020
- Traditional bank mobile banking usage frequency South Korea 2019
- Advantages of online and mobile banking among Millenials in the U.S. 2014
- Online banking in Chile: growth of mobile services 2016-2019
- Online banking in Colombia: growth of mobile services 2016-2019
- Mobile banking usage rate South Korea 2018, by service type
- Online banking in Argentina: growth of mobile services 2016-2019
- Online banking in Brazil: growth of mobile services 2016-2019
- Online banking in Mexico: growth of mobile services 2016-2019
- Usage rate of internet-only banks South Korea 2023, by age
- Direct bank mobile banking weekly usage number South Korea 2018, by service type
- Penetration rate of mobile banking in the GCC by country 2016
- Number of open banking third party registrations in Europe 2019-2023
- Revolut customers' expenses in Poland 2019-2020
- Mobile banking weekly usage number South Korea 2018, by service type
- Number of U.S. Baby Boomers using mobile phone banking 2014-2019
Further Content: You might find this interesting as well
Statistics
- Banking channels used in the U.S. 2014, by frequency
- Mobile banking services usage rate South Korea 2023, by income
- Mobile banking usage rate South Korea 2023
- Reasons for using traditional bank's mobile banking services South Korea 2020
- Traditional bank mobile banking usage frequency South Korea 2019
- Advantages of online and mobile banking among Millenials in the U.S. 2014
- Online banking in Chile: growth of mobile services 2016-2019
- Online banking in Colombia: growth of mobile services 2016-2019
- Mobile banking usage rate South Korea 2018, by service type
- Online banking in Argentina: growth of mobile services 2016-2019
- Online banking in Brazil: growth of mobile services 2016-2019
- Online banking in Mexico: growth of mobile services 2016-2019
- Usage rate of internet-only banks South Korea 2023, by age
- Direct bank mobile banking weekly usage number South Korea 2018, by service type
- Penetration rate of mobile banking in the GCC by country 2016
- Number of open banking third party registrations in Europe 2019-2023
- Revolut customers' expenses in Poland 2019-2020
- Mobile banking weekly usage number South Korea 2018, by service type
- Number of U.S. Baby Boomers using mobile phone banking 2014-2019
Cornerstone Advisors. (January 17, 2023). Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 [Graph]. In Statista. Retrieved May 11, 2024, from https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. "Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023." Chart. January 17, 2023. Statista. Accessed May 11, 2024. https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. (2023). Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023. Statista. Statista Inc.. Accessed: May 11, 2024. https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors. "Share of Bank and Credit Union Executives Who See Challenger Banks as a Significant Threat in The Coming Decades in The United States from 2020 and 2023." Statista, Statista Inc., 17 Jan 2023, https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/
Cornerstone Advisors, Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 Statista, https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/ (last visited May 11, 2024)
Share of bank and credit union executives who see challenger banks as a significant threat in the coming decades in the United States from 2020 and 2023 [Graph], Cornerstone Advisors, January 17, 2023. [Online]. Available: https://www.statista.com/statistics/1228261/opinion-on-challenger-banks-as-threat-for-banking/