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Neobanks: Banks by Any Other Name?

Author

Listed:
  • Terri Bradford

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.

Suggested Citation

  • Terri Bradford, 2020. "Neobanks: Banks by Any Other Name?," Payments System Research Briefing, Federal Reserve Bank of Kansas City, pages 1-6, August.
    • Handle: RePEc:fip:fedkpb:88580
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    File URL: https://www.kansascityfed.org/documents/7600/psrb20bradford0812.pdf
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    File URL: https://www.kansascityfed.org/research/payments-system-research-briefings/neobanks-banks-any-other-name/
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    Citations

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    Cited by:

    1. Katarzyna Schmidt-Jessa, 2023. "The impact of COVID-19 on digital-only banks: are they winners or losers?," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(3), pages 310-320, September.
    2. Ying Lei Toh, 2021. "Prepaid Cards: An Inadequate Solution for Digital Payments Inclusion," Economic Review, Federal Reserve Bank of Kansas City, vol. 106(no.4), October.

    More about this item

    Keywords

    Digital banks; Challenger banks; Non-banks; Fintechs; nonbank financial institutions;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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