neobanking
App-only financial services
Neobanking refers to fully digital banking services offered by financial companies that operate without physical branches.
Neobanks exist entirely through smartphone apps and websites, typically offering streamlined interfaces, lower fees, and features like instant notifications and easy international transfers.
Unlike traditional banks, most neobanks lack their own banking licenses and partner with established institutions to hold deposits: I switched to neobanking for the better app experience.
Mobile device software
- mobile-firstPrioritizing portable device design
- digitalOf discrete data
- APISoftware communication standard
- cloudAtmospheric water vapor mass
fintech · platform · interface · biometric · AI · chatbot · algorithm · real-time
Those born 1981-1996
- Gen ZPost-millennial demographic cohort
- digital nativePerson raised with internet
- smartphoneHandheld connected computer
- underservedInsufficiently provided for
gig economy · freelancer · immigrant · student · first-time · tech-savvy · branchless · accessibility
Record of dealings
- transfersRelocates or hands off
- paymentsMoney given for obligations
- savingsAccumulated money kept
- depositsMaterial settled or stored
debit card · budgeting · overdraft · international transfers · currency exchange · P2P · subscriptions · cashback
New business enterprise
- unicornMythical one-horned horse
- valuationAssessment of monetary worth
- Series AFirst major funding round
- disruptionForceful interruption of process
scaling · burn rate · profitability · market share · IPO · partnership
Adhering to requirements
- AMLIllicit finance prevention framework
- licenseFormal grant of permission
- regulatorDevice maintaining steady output
- FDICFederal deposit guarantor
audit · capital requirements · consumer protection · data privacy · GDPR · sanctions · reporting · oversight
app
Mobile device software
- mobile-firstPrioritizing portable device design
- digitalOf discrete data
- APISoftware communication standard
cloud · fintech · platform · interface · biometric · AI · chatbot · algorithm · real-time · push notifications
millennials
Those born 1981-1996
- Gen ZPost-millennial demographic cohort
- digital nativePerson raised with internet
- smartphoneHandheld connected computer
underserved · gig economy · freelancer · immigrant · student · first-time · tech-savvy · branchless · accessibility · global
account
Record of dealings
deposits · debit card · budgeting · overdraft · international transfers · currency exchange · P2P · subscriptions · cashback · rewards
startup
New business enterprise
- unicornMythical one-horned horse
- valuationAssessment of monetary worth
- Series AFirst major funding round
disruption · scaling · burn rate · profitability · market share · IPO · partnership
compliance
Adhering to requirements
- AMLIllicit finance prevention framework
- licenseFormal grant of permission
- regulatorDevice maintaining steady output
FDIC · audit · capital requirements · consumer protection · data privacy · GDPR · sanctions · reporting · oversight · risk management