Okhmatovskiy, IlyaVahle, Marin2022-06-152022-06-152022-01-192021-12-17http://hdl.handle.net/10362/140024This report examines the evolution and variation of business models in the banking industry while putting an in-depth focus on the business model of Neobanks. The evolution and variation are marked by key drivers of change, which imply constant adaptation to ensure value creation and capturing. As a result of the key drivers of change, emerging business models have started to compete with predominant business models in the banking industry. The business model of Neobanks is the latest business model that emerged in the industry, and it distinguishes itself by solely online, customer-centric products and services.engStrategyEconomicsBusiness modelEuropeBanking IndustryNeobanksBusiness model canvasCustomerOrganizational architectureValue propositionEvolutionVariationOptimizationChallenger banksBusiness model dimensionsmaster thesis202972305