There are now over 350 digital banks in the world, making The Financial Brand's List of Digital Banks the largest and comprehensive global neobank database.
(PRUnderground) August 9th, 2022
For decades, there was no comprehensive database of all the digital banks in the banking industry. To fill that gap, The Financial Brand [https://thefinancialbrand.com], a digital publication focused on strategic marketing issues in retail banking, launched its List of Digital Banks [https://thefinancialbrand.com/list-of-digital-banks] in April 2021 with nearly 275 digital banks.
“Our goal was to create the world’s largest list of digital banks,” says Will Bernstein, Chief Marketing Officer of The Financial Brand. “We invite other publications and bloggers in the financial industry to link to and share this valuable resource.”
Now with over 350, the List of Digital Banks — powered by Nymbus — is the largest global database of neobanks. The most recent update in July tapped 22 new digital banks for the list, adding banking challengers such as Laurel Road, Nearside, Stretch, Allica Bank and Blink — rounding out a database chock-full of digital banks, such as Venmo, PayPal, Chime, WeBank, Zelle, Revolut and Monzo.
“The Financial Brand’s List of Digital Banks is an invaluable resource for organizations wanting to quickly see the leaders in each solution category, region and target market,” says Jim Marous, CEO of the Digital Banking Report [https://www.digitalbankingreport.com/] and host of the Banking Transformed podcast.
The list of banking services a digital bank contender can offer includes digital banking products (such as checking accounts, savings accounts and bank loans), payments, investment services, personal finance management and financial education. The database also separates the digital banks that offer banking tools to consumers versus neobanks dedicated to business banking. It tracks the number of banking customers a challenger bank has as well as its employee count, funding rounds, year founded and headquarters. The Financial Brand is also now accepting submissions from digital banks for the countries and continents they serve.
The first digital-only banks first sprung up well over a decade ago, but the nontraditional players are now flooding the retail banking space. Cornerstone Advisor research found more than a quarter of Gen Z’ers and nearly a third of Millennials call a digital bank their primary checking account provider.
Marous points to The Financial Brand’s list of digital banks as a critical resource for banking leaders. “Financial services executives need to mirror what industry leaders are doing, and collaborate with fintech organizations that have already ‘walked the walk’.”
Other industry experts — such as Banking 4.0 author Brett King and CEO of The Finanser Chris Skinner — have also acknowledged The Financial Brand’s list of digital banks as a critical resource in the banking industry.
Link to and share the List of Digital Banks at [https://thefinancialbrand.com/list-of-digital-banks/].
About The Financial Brand
The Financial Brand was founded in 2008 by CEO Jeffry Pilcher, and is 100% independent and ad-supported. The Financial Brand is also the host of The Financial Brand Forum, the most elite conference on marketing, CX and digital transformation in the retail banking world.
The post The Financial Brand Releases Updated List of Digital Banks, Adding Laurel Road and Nearside first appeared on PRUnderground.
Original Press Release.
