The sector that has been most reshaped and revolutionized by fintech is consumer banking. Neobanks, sometimes also called challenger banks, saw the opportunity in democratizing the different components of traditional banking, making them more accessible to a wider pool of users through targeted solutions for both private and business customers with significantly better servicing. Today, an estimated 203 million people use digital banking services, and that number is projected to reach 216.8 million by 2025.