Neobanks: Banks by Any Other Name?

Abstract: Neobanks, or digital banks, are bank-like providers of financial services that operate through apps and aim to appeal to different consumer groups through innovative features and design. Whether or not neobanks evolve into full banks, they have the potential to affect the traditional banking model.

Keywords: Digital banks; Challenger banks; Non-banks; Fintechs; nonbank financial institutions;

JEL Classification: G23;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Payments System Research Briefing

Publication Date: 2020-08-12

Pages: 6