Neo banks have been featured in over 1000 publications, including:
Neobanks and e-money institutions have taken business banking to the next level with tailor-made financial services that support a company’s growth. Due to their low costs, you can easily combine two or more bank accounts to better manage your business’ finances. Mercury and Wise proved to be the best deal for online overseas services. While Mercury provides customers with a USD bank account at low fees and multiple debit cards, Wise offers a borderless account with the lowest currency conversion rates. By opening an account in these two tech-focused financial institutions, your money will be safe and your company will enjoy high-quality services that complement each other.
Neobanks - also known as digital, online, or internet-only banks - are changing the way we think about our finances. By leveraging technology, and focusing on filling the gaps left by traditional banks, the new wave of neobanks is disrupting the old bureaucratic and time-consuming way of managing finances. These new firms focus on providing a 100% digital account with lower fees and fast service deliveries.
The top-end technology has enabled neobanks to create modern settings, providing services quickly and conveniently, at an affordable rate, and with a better customer experience. Everything has migrated to the screen, from viewing account balances and obtaining statements, to transferring money and making payments.
The revolutionary way of managing finances through a computer or a phone comes in response to Millennials' urge for a digital way to control their lives. This tech-savvy generation is the main target audience of both neo and traditional banks due to their high financial development potential. However, the inflexible nature of conventional banking systems makes these potential customers opt to easily open an account on digital banks. All of this might seem very difficult, but it actually isn't.
Neobanks’ reputation is also based on superior user experience and support. One of the main perks of these new financial institutions is the ease of contacting online support and having an immediate response, which is the opposite of most traditional banks that would require you to go to a bank branch to solve any issue, or would also demand a long wait on the phone.
Since the big wave of neobanks, bankers are no longer sitting behind a desk in the middle of a branch. They’re trying to catch up with the technology to provide services and facilities similar to those provided by internet-only banks. Their goal is not to lose relevance for future generations, but they’ve already lost the race for a simplified way of managing finances.