Neobank

What is Neobank?

A neobank is a type of direct bank that operates exclusively online without traditional physical branch networks. These companies often focus on a specific niche or provide a highly streamlined mobile experience to attract tech-savvy customers.

Why It Matters

• It challenges traditional banks by offering lower fees and innovative digital features.

• It provides a more agile platform for launching new financial products quickly.

• It often includes advanced budgeting and saving tools as part of the core offering.