Neobanks List 2022

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AMERICAS
NeoBank Website Head Office Location Payment Method
Arrival www.arivalbank.com United States Debit card
Aslo www.azlo.com United States Debit card
Acorns www.acorns.com United States Debit card
Aspiration www.aspiration.com United States Debit card
Bambu mybambu.com/us/ United States Debit card
Bank Mobile www.bankmobile.com United States Debit/Credit card
Bella www.bellaloves.me United States Debit card
Betterbank betterbank.app United States Debit card
Betterment www.betterment.com United States Debit card
Branch www.branchapp.com United States Debit card
Bridge Money www.bridgemoney.co United States Debit card
Capway www.capway.co United States Debit card
Cheese www.earncheese.com United States Debit card
Chime www.chime.com United States Debit card
Cogni getcogni.com United States Debit card, Single-use cards
Copper www.getcopper.com United States Debit card
Credit Sesame www.creditsesame.com United States Debit card
Current current.com United States Debit card
Dave dave.com United States Debit card
Daylight joindaylight.com United States Debit card
Douugh douugh.com United States Debit card
Empower empower.me United States Debit card
Envel www.envel.ai United States Debit card
Extra extra.app United States Debit card
Finch Money finchmoney.com United States Debit card
Gobank www.gobank.com United States Debit card
Good Money goodmoney.com United States Debit card
Greenlight www.greenlightcard.com United States Debit card
Greenwood bankgreenwood.com United States Debit card
Happy Money happymoney.com United States Debit card
HMBradley www.hmbradley.com United States Debit/Credit card
Ivella www.ivella.co United States Debit card
Koho www.koho.ca Canada Debit card
Letter letter.co United States Debit card
Level levelbank.com United States Debit card
Linus www.getlinus.io United States Debit card
Long Game www.longgame.co United States Debit card
Lucky Card getluckycard.com United States Debit card
M1 Finance www.m1finance.com United States Debit card
Mercury mercury.com United States Debit card
Majority www.majority.com/en United States Debit card
Marygold & Co. marygoldandco.com United States Debit card
Meed Banking Club meedbankingclub.com United States Debit card
MoneyLion www.moneylion.com United States Debit card
Monzo monzo.com/usa UK Debit card
N26 n26.com/en-us Germany Debit card
North Loop www.nolobank.com United States Debit card
Novo banknovo.com United States Debit card
Neo Fiancial www.neofinancial.com Canada Credit card
One Finance www.onefinance.com United States Debit card
onJuno onjuno.com United States Debit card
Oxygen oxygen.us United States Debit card
Passbook by Remitly www.passbook.app United States Debit card
Pinch pinchbank.com United States Debit card
Point point.app United States Debit card
Purple www.bankpurple.com United States Debit card
Qapital www.qapital.com United States Debit card
Qube Money qubemoney.io United States Debit card
Revolut US www.revolut.com/en-US UK Debit card
Robinhood robinhood.com United States Debit card
Sable sablecard.com United States Debit card
Save www.joinsave.com United States Debit card
Simple www.simple.com United States Debit card
SoFi www.sofi.com United States Debit card
Stash www.stashinvest.com United States Debit card
Stack www.getstack.ca Canada Debit card
Step step.com United States Debit card
Stilt www.stilt.com United States Debit card
Tangerine www.tangerine.ca/en Canada Debit/Credit card
Transferwise transferwise.com/us United States Debit card
Unifimoney www.unifi.money United States Debit/Credit card
Varo www.varomoney.com United States Debit card
Wealthfront www.wealthfront.com United States Debit card
Yotta Savings www.withyotta.com United States App
Zeta www.askzeta.com United States Joint debit card
Zero zero.app United States Credit card
Zoro Card zorocard.com United States Debit card
Africa and Middle East
Bettr www.bettr.app South Africa Debit card
Dopay www.dopay.com Egypt Debit card
Hala hala.com Saudi Arabia Debit card
Ila ilabank.com Bahrain Debit card
Kuda kudabank.com Nigeria Debit card
Meem sa.meem.com Saudi Arabia Debit/Credit card
Pepper www.pepper.co.il Israel Debit card
Xpence www.xpence.co Dubai Debit card
Europe
220 Bank www.220bank.com United Kingdom Debit card
Alpain www.alpian.com Switzerland Debit card
Anytime www.anyti.me France Debit card
Aoin www.aion.be Belgium Debit card
Atom Bank www.atombank.co.uk United Kingdom Debit card
Bitwala www.bitwala.com Germany Debit card
Bnext bnext.es Spain Debit card
BuddyBank www.buddybank.com Italy Debit card
Bunq www.bunq.com Netherlands Debit card
Coconut getcoconut.com United Kingdom Debit card
Countingup countingup.com United Kingdom Debit card
CSX by Credit Suisse csx.credit-suisse.com Switzerland Debit card
Curve www.curve.com United Kingdom Debit card
Dozens www.dozens.com United Kingdom Debit card
EasyEuro www.easyeuro.eu France Debit card
Fidor Bank https://www.fidor.de/en/ Germany Debit card
Fire www.fire.com/ Ireland Debit card
Gimi www.gimitheapp.com Sweden Debit card
Go Henry www.gohenry.com United Kingdom Debit card
Hello bank! www.hellobank.fr France Debit card
Holvi www.holvi.com Finland Debit card
Hype www.hype.it Italy Debit card
ImaginBank www.imagin.com Spain Debit card
Indo indo.is Iceland Debit card
Kard www.kard.eu France Debit card
Knab www.knab.nl Netherlands Debit card
Kontist kontist.com Germany Debit card
Lintel www.lintelbank.com United Kingdom Debit card
Lunar lunar.app Denmark Debit card
Manager.one www.manager.one France Debit card
mBank www.mbank.pl Poland Debit card
Monese monese.com United Kingdom Debit card
Monzo monzo.com United Kingdom Debit card
Muniy muniy.com United Kingdom Debit card
N26 n26.com Germany Debit card
Neon-free www.neon-free.ch Switzerland Debit card
Nest Bank nestbank.pl Poland Debit card
Nickel nickel.eu France Debit card
Nimbl www.nimbl.com United Kingdom Debit card
OakNorth www.oaknorth.co.uk United Kingdom Debit card
Orange Bank www.orangebank.fr France Debit card
Osper osper.com United Kingdom Debit card
P.F.C. getpfc.com Sweden Debit card
Penta getpenta.com Germany Debit card
Pixpay www.pixpay.fr France Debit card
Pockit www.pockit.com United Kingdom Debit card
Prismea www.prismea.fr France Debit card
Qapital www.qapital.com Sweden Debit card
Qonto qonto.com France Debit card
Personal + Business www.revolut.com United Kingdom Debit card
Rocket Bank rocketbank.ru Russia Debit card
Rooster Money roostermoney.com United Kingdom Debit card
Shine www.shine.fr France Debit card
Soldo www.soldo.com Italy Debit card
Starling Bank www.starlingbank.com United Kingdom Debit card
Tandem www.tandem.co.uk United Kingdom Debit card
Tide Bank www.tide.co United Kingdom Debit card
Tinkoff Bank www.tinkoff.ru Russia Debit card
Tomorrow www.tomorrow.one Germany Debit card
Transferwise transferwise.com United Kingdom Debit card
Vivid vivid.money Germany Debit card
Xaalys www.xaalys.com France Debit card
Yapeal yapeal.ch Switzerland Debit card
ZAK Banque Cler www.cler.ch Switzerland Debit card
Asia
811 by Kotak 811 by Kotak India Debit card
86 400 86 400 Australia Debit card
Airstar Bank Airstar Bank Hong Kong Debit card
AspireBiz AspireBiz Singapore Debit card
BigPay BigPay Malaysia Debit card
Digibank by DBS Digibank by DBS India Debit card
Douugh Douugh Australia Debit card
Freo Money Freo Money India Debit card
Hay Hay Australia Debit card
InstantPay InstantPay India Debit card
JAL Global Wallet JAL Global Wallet Japan Debit card
Jenius Jenius Indonesia Debit card
Jibun Bank Jibun Bank Japan Debit card
K Bank K Bank South Korea Debit card
Kakao Bank Kakao Bank South Korea Debit card
Komo Komo Philippines Debit card
Kyash Kyash Japan Debit card
Livi Bank Livi Bank Hong Kong Debit card
Mox by Standard Chartered Mox by Standard Chartered Hong Kong Debit card
MYBank MYBank China Debit card
NeatBiz NeatBiz Hong Kong Debit card
NiYO NiYO India Debit card
OpenBiz OpenBiz India Debit card
PAObank PAObank Hong Kong Debit card
SaveIN SaveIN India Debit card
Sony Bank Sony Bank Japan Debit card
Statrys Statrys Hong Kong Debit card
Sumishin Net Bank Sumishin Net Bank Japan Debit card
Timo Timo Vietnam Debit card
TMRW by UOB TMRW by UOB Thaïlande Debit card
TNEX TNEX Vietnam Debit card
Tonik Bank Tonik Bank Philippines Debit card
Tyro Payments Tyro Payments Australia Debit card
UP UP Australia Debit card
Volt Bank Volt Bank Australia Debit card
WalrusTeens WalrusTeens India Debit card
WeBank WeBank China Debit card
WeLab Bank WeLab Bank Hong Kong Debit card
Xinja Xinja Australia Debit card
Yono by SBI Yono by SBI India Debit card
YouTrip YouTrip Singapore Debit card
ZA Bank ZA Bank Hong Kong Debit card

Which license do you need to become a neobank?

Do you want to be seen as a niche bank neobank is a new form of digital-only bank. Like traditional banks, they offer products and services like checking accounts with debit cards (or credit cards if the neobank offers them), savings accounts, loans, mortgages, investment management services and more.

The difference? Traditional brick-and-mortar banks resistant?

Most neobank have payment license thatdoes not qualify an institution to be designated as a “neobank.” Only institutions holding a credit institution license may call themselves a “bank” or a “neobank”… most banks are backed by the Temenos or Arkea infrastructures.

Today, the number of new neobanks entering the market each year is 5 times greater than it was in 2016. This revolution has largely been concentrated in Europe and Asia.

Players you know and might want be inspired from are in the UK (Starling Bank), France (Qonto), Finland (Holvi), Germany (N26), and Russia (Tinkoff).

The New Financial Services in Europe

In Europe, neobanks are leveraging the European Payment Services Directive PSD1, which allows new institutions to enter the financial services market with less stringent approvals. It is therfore easier to get a licence in France thanks to the National Competent Authorities—NCAs—such as the ACPR (France), in the United Kingdom with FCA, or in Germany with the BaFin. 

Which license do you need to become a neobank versus traditional banks?

THE CREDIT OR BANKING LICENSE IS NOT SAVINGS ACCOUNTS

A credit or banking license allows a financial institution to accept customer deposits and issue credit using customer funds. Yes, we are very closed to a traditional bank. Banks accounts are opened now with virtual banks portal and such companies offer FOREX transactions, robo advisor, simple advice, and assistance in asset management, services related to securities such as socially responsible investment.

The subscription to services are made through a digital banking platform and this is a real competitor strategy facing existing banks.

Banking licenses are delivered by a competent authority. Applying to this type of license could be quite difficult for new digital bank. For example in Switzerland, building this type of new digital bank it’s a real challenge, higher than Cervin climbing and we strongly suggest you contact us before you start this process. Usually to build this type of bank you will need a greater capital requirement and very strong and well-known staff in Berne.

Building this type of traditional bank could take from 12 to 24 months at least depending on the jurisdiction you will select. Usually to build this type of bank you will also need a very strong banking services partner for custody and accounting.

Electronic Money Institution License

Another option is to obtain an electronic money license which will support financial payment services including the creation of IBANs and BIN sponsorship – credit card. Here an electronic money license allows the license to provide the same banking experience to customers for everyday payments. However electronic money license has some real limitations. So if you want to create conventional banks this is a dead-end.

An electronic money institution license is quite cost-effective and a very nice option for those looking to provide e-money services. This type of license is not meant to issue a credit or analyze credit risk. This type of license is not working for deposit insurance or traditional custody of clients’ funds. If you wish to custody funds then you should go with a partnership…

Neobanks help traditional banks… traditional banks help neobanks. Thank license can be obtained usually in less than 12 months and the legal fees also or less important. You should count around €150,000 for a traditional regulatory license application. The average cost of setting this type of virtual bank would cost you from one to €2 million.

The Payment Institution License  

Another option is to go for a payment institution license or PI this supports payment services and everything transactions to be carried out by card or direct debit on the direct system. Dissolution also provides cash with drawls and forest transactions. Thanks to DSP2 PSD2 pasty to dissolution is actually quite efficient in Europe. However, dissolution also has some limitations

PI does not allow long-term credit but you can use a specific loan repairable bridge with other financial institutions. In a way, this is a shortcut if you wish to have a full banking license. You have to carefully look into a partner bank’s program and see how your personal loans service can be hosted under their umbrella.

In contrast to EMI, PI can not take custody! You must work with a credit institution where the funds will be guaranteed up to €100,000 per client by the Deposit Guarantee and Resolution Fund in France – the FGDR – Fonds de Garantie des Dépôts et de Résolution.

You will go for a PI if you wish to become one day an established bank. The application process takes less than 12 months. Legal fees for this type of structure ranges from €50K to €150K. The price depends on the financial products, bank account activities you wish to provide. On average your challenger bank will have to be strong of €450,000 to €1.5 million to fund the whole operation.

The Payment service provider agent model

If you’re an Asian model you need to have your own type of light license and your help. Must startups and organizations appreciate going under the umbrella of another company. Start-ups operate under third-party until they achieved sufficient size to join challenge banks’ flock. They will have to follow a virtual banking policy as well as a partner virtual banking license policy. Those new banks operate in a white label debit card.

The umbrella bank is now a service provider and deposit accounts, currency changes, current accounts, budget management, online banking is license usually two days umbrella company. This umbrella company will make money with bips of the assets. under management or transaction flow. Very nice way to test the market before you actually start your own bank. Obviously, the main advantage is that you can start quickly. The biggest disadvantage is that you are dependent on a third-party system and control… so if you need to manage complex KYC and remediation. You should test carefully that the umbrella financial service providers will follow with your growth. Monthly maintenance fees can be a hurdle for this model.

Payment Neo neo licenses

Throughout the world now it is possible to benefit from more flexible regulation. You can build your own bank without the complex banking license through the start of pseudo banking licenses. This new type of license is opening the gates to new digital bank opportunities.

New version of Instaprint bank offers in reality financial services such as payments into lenient regulation. Payment licenses are often associated with regulatory send boxes which provide testing grounds for new digital banks.

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