Neobanks Surge as Technology Shapes Consumer Banking Trends

Cyril Fourneris, from our team based in Switzerland, writes about the growing importance of neobanks on the global financial ecosystem. In a detailed report published on May 21, 2025, at 15:00 GMT+2, Fourneris explores the emerging trends and evolving consumer behavior that underscore the shift toward digital banking solutions.

And the explosion of neobanks, which are online-only banks that lack any physical branch network, represents a decisive turning point in banking. Digital banks continue to appeal to an increasingly popular segment of consumers. They want–they expect–convenient, accommodating use of financial services specially tailored to them. The report goes deeper into how these institutions use technology to create frictionless experiences that surround and draw in a younger, tech-savvy demographic.

Yousef Al Neama is currently the Group Chief Business Officer of Qatar National Bank. Most importantly, he shares just how important technology is in moving this evolution in the right direction. He points out that modern consumers are demanding more personalized services – something that can only be achieved through a new technological ecosystem. This idea was seconded by Juan Pablo Ortega, CEO of Yuno, a payment solutions startup. Innovative payment technologies Ortega thinks is a key to success for neobanks. These innovations allow them to be more competitive and deliver more value to their clients.

The report goes on to emphasize important trends, including the increasing popularity of mobile banking apps and contactless payments. As a result, consumers today expect to interact with their finances solely through digital channels. These platforms not only offer greater security but also allow transactions to occur in real-time. This shift in consumer behavior is reshaping how traditional banks operate, pushing them to adapt or risk losing market share.

Neobanks aren’t only winning over early adopters of technology — they’re winning over anyone who wants a faster, easier way to bank. For starters, consumers enjoy being able to open accounts with limited documentation. Not only is the lack of hidden fees refreshing, but it helps make these accounts remarkably enticing!