Neobanks have internalised the idea of being able to do your banking from your smartphone. But how do their products differ from those of the more established financial institutions? — dpa
The days of having to rush to the bank to transfer money or take out cash before it closed are long over. Thanks mostly to the rise of online- and mobile-only direct banks, even the most traditional financial institutions have to offer internet options.
And now a new generation of so-called neobanks – N26, C24, Tomorrow, Revolut and Klarna, just to name a few – are entering the market, targeting consumers who grew up with the internet and prefer doing all their financial transactions completely online.
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