Disclaimer: the numbers in here are best guesses based on public activity.
As of 2019 (Statista) there are approximately 408M bank account holders in the EU.
I am not sure what Nash’s year 1 target is for user acquisition, but I think a realistic goal can be 0.10%, or 408,000 Earnings users.
I looked into other Neobank growth patterns, and you can see how quickly the monthly active users (MAU) grew:
If I had to guess, before Earnings, Nash had 100-300 MAU. With Earnings, I think this count can grow exponentially via word of mouth, before ANY promotion even takes place. Can easily have 15-20K MAU by the end of this year. Starting in 2022, with targeted marketing in tow, I think it is realistic to see exponential growth beyond year 1 (hint: into the millions).
This Earnings product hits three excellent unique selling propositions (USP):
- Provides a solution that address near zero to negative interest rates across the EU
- Easy UX - from what I’ve witnessed this appears to be extremely easy to use, and moving funds mirror traditional banking methods.
- Rewards visualizer for your yields - watching your earnings grow in live-time is simple and effective
A goal of 408,000 users (or 0.10% of EU bank accounts) seems like a realistic target.