What are neobanks and how are they different?
The term ‘neobank’ refers to a new crop of financial institutions that has been sprouting up throughout Australia and the rest of the world since at least 2017. What makes these banks different from traditional banks is that they have been reimagined from the ground up with a purely digital focus – to run seamlessly through an app and with no branches anywhere in sight. What are the benefits of using a neobank? The outside-the-box thinking common to neobanks offers…read more