neobank noun [C] UK /ˈniː.əʊˌbæŋk/ US /ˈniː.oʊˌbæŋk/ a type of bank that provides only online banking services and has no physical branches Neobanks work similarly to traditional banks and offer the same types of services, yet they perform all available functions online or through a mobile app. Neobanks may also partner with chartered banks to …

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