neobank
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English
Etymology
Noun
neobank (plural neobanks)
- (finance) A modern type of direct bank that operates exclusively online without a traditional physical branch network.
- Coordinate term: challenger bank
- 2019 September 21, Alyx Gorman, “A bank you might like: apps' unlikely pitch out to disrupt Australian habits”, in The Guardian, →ISSN:
- 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.
- 2023 April 24, Kalyeena Makortoff, “Revolut’s place as UK’s top fintech firm at risk after Schroders writedown”, in The Guardian, →ISSN:
- 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.