Neobank — The prefix neo within the new term «neobank» in Greek means «new» (from the Greek neos new), i.e. neobanks are upgraded and modernised banks, typically modernised with modern functionality and types of communication and data transfer including fundamental components like web (websites, offices) and cellular financial institution (apps, messaging, telephone management).
The rating includes only full-fledged banks working underneath banking licenses and beneath full control of hyperregulators. Payment methods and organisations operating under payment operators’ licences usually are not included within the ranking.
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