Neobank

Quick meaning: Neobank is a noun meaning (banking) A modern type of direct bank that operates exclusively online without a traditional physical branch network, often mobile-first and even without banking licence.

Meaning

(banking) A modern type of direct bank that operates exclusively online without a traditional physical branch network, often mobile-first and even without banking licence.

Example Sentences

It comes only 18 months after Schroders ploughed £9.9m into the firm as part of a big funding round for Revolut, which the asset manager lauded as an “ambitious neobank”, in the summer of 2021.

Digital-only neobanks, offering no-fee accounts, high-speed sign-ups and intuitive user interfaces, are hoping to disrupt the way Australians save and spend their money – by making products people actually like.

Word Forms

• neobanks

Related Words

Related dictionary entries include neobanking, netbank, e-bank, cyberbank, e-banking, telebanking.

Related Dictionary Tools