Words / N / Business

neobank

noun/ˈniːəʊbæŋk/

B2CEFR level
55/100Rarity: uncommon
TechnicalRegister

A bank that operates entirely through an app with no physical branches.

The neobank let him open an account in ten minutes, but there was nowhere to deposit the wedding cash.

Similar: digital bank, challenger bank

Topic: Finance in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Finance