Summary of The Sad Demise Of Europe’s Neobanks

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

The Sad Demise Of Europe’s Neobanks summary

Editorial Rating



  • Background
  • Hot Topic
  • Engaging


Start-ups rise and fall, and disrupters are often disrupted. It is no different for the neobanks in Europe, whose vision of a better, more consumer-centric financial experience seems to have come undone. In this informative analysis, financial journalist David Dawkins looks at how the COVID-19 pandemic has thrown cold water on these upstarts’ aspirations, even if their design would appear to lend itself nicely to post-pandemic norms.

About the Author

David Dawkins is journalist at Forbes magazine.


Europe’s neobanks had lofty ambitions and a fast rise.

Europe’s largest neobank start-ups sought to improve consumer banking with digital wallets handy for making small, on-the-go purchases at shops and eateries. They signed up millions of users in only a few years: Revolut boasted 13 million depositors by 2019. Neobank customers could bypass the old, slow payment methods of traditional bank accounts.

But COVID-19 came along in 2020, before these disruptors could become profitable.

The coronavirus pandemic and regulatory realities are challenging the challenger...

Comment on this summary

More on this topic

MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The Financial Services Guide to Fintech
Global Socio-Economic Losses and Environmental Gains from the Coronavirus Pandemic
Covid-19 Has Scrambled Fintech’s Winners & Losers
The Future of the Dollar
Global Economic Outlook 2021: Europe

Related Channels