Neobank

A neobank is a digital-first bank that operates primarily through mobile apps and online platforms, often built by fintech companies. Many neobanks have no physical branches and focus on streamlined user experiences.

Some neobanks operate under their own banking licenses, while others partner with regulated banks. They often offer features like real-time notifications, budgeting tools, and low-fee accounts.

Related Terms

Fintech

Financial Technology

Fintech refers to technology-driven innovation in financial services. It encompasses mobile banking,...

Digital Wallet

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Open Banking

Open banking is a system where banks share customer financial data with third-party providers throug...

API

Application Programming Interface

An API is a set of protocols and tools that allows different software applications to communicate wi...

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