Neobanks are fully digital banks that provide financial services through mobile apps or websites without relying on traditional branch networks. They focus on user-friendly experiences, low fees, and real-time access to banking features like money transfers, budgeting tools, and card management. Unlike traditional banks, neobanks often use modern tech stacks and agile product development cycles to quickly roll out new features. Some also offer additional services like cryptocurrency trading, stock investing, or travel insurance.
