Neobanking

Neobanking refers to digital-only banks that operate without physical branches, offering financial services primarily through mobile apps and online platforms. They provide convenience, quick account setup, and often lower fees compared to traditional banks. Neobanks typically focus on user-friendly interfaces, innovative features like real-time spending insights, and seamless integration with other financial tools. While they may offer checking accounts, savings, and payment services, they often partner with established institutions for regulatory and deposit insurance purposes. Overall, neobanks aim to simplify banking, enhance accessibility, and leverage technology to meet modern financial needs more efficiently.