Neo-Banks

Neo-banks are digital-only financial institutions that operate without physical branches, offering banking services primarily through mobile apps and websites. They typically provide checking accounts, savings, payments, and other financial products using modern technology for quick, user-friendly access. Neo-banks often have lower fees and more innovative features compared to traditional banks, leveraging data and automation to enhance customer experience. They are regulated like conventional banks but focus on streamlined, digital-first banking, making financial services more accessible, convenient, and transparent for users.