Photo by Blake Wisz on Unsplash

Banks vs Neobanks: What is a Neobank?

Neobanks are a group of startups that provide banking or banking-like services comparable to those services provided by established banks, with the difference being that neobanks largely deliver their services through an app on your phone. This is in contrast to ‘traditional’ banks which provide their services through a range of channels from physical bank branches, to telephone banking and apps.