Neobank

Pronunciation: /niːoʊbæŋk/

Definitions of neobank

noun a type of digital bank that operates exclusively online without any physical branches

Example Sentences

A1 A neobank is a type of digital bank that operates exclusively online.

A2 Neobanks offer innovative financial services through mobile apps.

B1 Customers can easily open an account with a neobank without visiting a physical branch.

B2 Neobanks are gaining popularity among tech-savvy individuals for their user-friendly interfaces.

C1 Investors are closely monitoring the growth of neobanks in the financial industry.

C2 The competition between traditional banks and neobanks is heating up as more customers switch to digital banking.

Examples of neobank in a Sentence

formal The neobank offers a range of digital financial services without physical branches.

informal I signed up for a neobank because it's all online and convenient.

slang Neobanks are the new cool way to manage your money on your phone.

figurative In the world of traditional banking, neobanks are like disruptors shaking things up.

Grammatical Forms of neobank

• past tense: neobanked
• plural: neobanks
• comparative: more neobank
• superlative: most neobank
• present tense: neobanks
• future tense: will neobank
• perfect tense: have neobanked
• continuous tense: is neobanking
• singular: neobank
• positive degree: neobank
• infinitive: to neobank
• gerund: neobanking
• participle: neobanking

Origin and Evolution of neobank

First Known Use: 2013 year

Language of Origin: English

Story behind the word: The term 'neobank' is a combination of 'neo-' meaning new or modern, and 'bank', referring to a financial institution.

Evolution of the word: The term neobank first emerged in the early 21st century to describe a new breed of digital-only banks that operate without physical branches. These neobanks offer online banking services and often target tech-savvy customers with innovative features and user-friendly interfaces.