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A buzzword in the fintech space in recent years, neobanks are challengers of the traditional banking infrastructure, a digital-only option that offers direct banking to customers. Often dubbed the “disruptors” of the fintech world, neobanks eliminate the need for a network of branches as well as a whole workforce of customer representatives who essentially serve […]

Neobanks, or digital-only banks, can be defined as fintech companies offering direct banking services to their customers. The term neobank was first coined around 2016[1] to describe fintech companies that challenge traditional banks.