In recent years, a new type of bank has established itself on the financial market – the so-called neo-banks. Neo-banks are digital banks, i.e. banks whose processes are mapped completely digitally, meaning they have no physical location. Neobanks have now also brought banking onto smartphones. The core business of neobanks is therefore mobile banking. They offer their customers completely mobile and web-based solutions for opening accounts, making transfers, payments and other banking services. These new types of digital financial institutions have the potential to fundamentally change the way we bank. Unlike traditional banks, neo-banks rely on innovative technologies to provide their customers with a seamless user experience.

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