Challenger Banks Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The European Challenger Banks Market is segmented by services offered (Payments, Savings Products, Current Account, Consumers Credits, Loans and Others), By end-user type (Business Segment and Personal Segment) and By Geography (UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Challenger Banks Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

European Challenger Banks Market Size

Challenger Banks in Europe (2020-2025)
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 10.00 %
Market Concentration Medium

Major Players

Market Summary

*Disclaimer: Major Players sorted in no particular order

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European Challenger Banks Market Analysis

The Challenger Banks in Europe Market is expected to register a CAGR of greater than 10% during the forecast period.

The origins of Challenger Banks in the UK date back to the most recent crisis, during which large institutions engaged in questionable practices and undertook risks through complex business activities, difficult to comprehend for both regulators and consumers. UK has also led the charge across EU FinTech, as it is home to the most extensive network of established Challenger Banks in Europe. The UK has one of the most established and concentrated banking industries in Europe, with large financial institutions controlling significant market share and the market is supported by traditionally high regulatory barriers to entry.

European Challenger Banks Industry Overview

The report includes an overview of challenger banks operating across the region. We wish to present detailed profiling of a few major companies which cover product offerings, regulations governing them, their headquarters, and financial performance. Currently, some of the major players including OakNorth Bank, Revolut, Number26 GmBH, Monzo, and Tandem Bank, among others are dominating the market.

European Challenger Banks Market Leaders

  1. OakNorth Bank

  2. Revolut

  3. Number26 GmBH

  4. Monzo

  5. Tandem Bank

  6. *Disclaimer: Major Players sorted in no particular order
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European Challenger Banks Market News

  • In October 2022, OakNorth Bank acquired a 50% stake in property lender ASK Partners. The company has lent in excess of £1bn across over 90 transactions through its online platform.
  • In July 2021, Revolut, a London-based financial app that provides banking, investing, currency transfer, and other money management services, confirm a fresh USD 800 million in funding at a USD 33 billion valuation to supercharge its financial services super app.

European Challenger Banks Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porters 5 Force Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Service Type
    • 5.1.1 Payments
    • 5.1.2 Savings Products
    • 5.1.3 Current Account
    • 5.1.4 Consumer Credit
    • 5.1.5 Loans
    • 5.1.6 Others
  • 5.2 By End-User Type
    • 5.2.1 Business Segment
    • 5.2.2 Personal Segment
  • 5.3 By Country
    • 5.3.1 UK
    • 5.3.2 Germany
    • 5.3.3 France
    • 5.3.4 Italy
    • 5.3.5 Spain
    • 5.3.6 Netherlands
    • 5.3.7 Rest Of Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 OakNorth Bank
    • 6.2.2 Revolut
    • 6.2.3 Number26 GmBH
    • 6.2.4 Monzo Bank Limited
    • 6.2.5 Monese
    • 6.2.6 Tandem Bank
    • 6.2.7 Pockit
    • 6.2.8 One Savings Bank
    • 6.2.9 Shawbrook Bank
    • 6.2.10 Aldermore
    • 6.2.11 Atom Bank PLc
    • 6.2.12 TSB
    • 6.2.13 Clydesdale
    • 6.2.14 Virgin Bank
    • 6.2.15 Metro Bank
    • 6.2.16 Starling Bank
    • 6.2.17 Fidor Solutions AG*
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

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European Challenger Banks Industry Segmentation

An understanding of the Challenger Banks in Europe, regulatory environment, challengers banks, and their business models, along with detailed market segmentation, product offerings such as deposits, loans to define their financial performance indicators, current market trends, changes in market dynamics, and growth opportunities. In-depth analysis of the market size and forecast for the various segments. The Challenger Banks Market in Europe is segmented By services offered (Payments, Savings Products, Current Account, Consumers Credits, Loans and Others), By end-user type (Business Segment and Personal Segment) and By Geography (UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe). The report offers market size and forecasts for Challenger Banks in Europe Market in value (USD Million) for all the above segments.

By Service Type Payments
Savings Products
Current Account
Consumer Credit
Loans
Others
By End-User Type Business Segment
Personal Segment
By Country UK
Germany
France
Italy
Spain
Netherlands
Rest Of Europe
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European Challenger Banks Market Research FAQs

What is the current Challenger Banks in Europe Market size?

The Challenger Banks in Europe Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)

Who are the key players in Challenger Banks in Europe Market?

OakNorth Bank, Revolut, Number26 GmBH, Monzo and Tandem Bank are the major companies operating in the Challenger Banks in Europe Market.

What years does this Challenger Banks in Europe Market cover?

The report covers the Challenger Banks in Europe Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Challenger Banks in Europe Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

European Challenger Banks Industry Report

Statistics for the 2025 Challenger Banks in Europe market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Challenger Banks in Europe analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.