Neobank – The prefix neo in the new term “neobank” in Greek means “new” (from the Greek neos new), i.e. neobanks are upgraded and modernised banks, usually modernised with trendy functionality and forms of communication and information switch including primary components like web (websites, offices) and cellular financial institution (apps, messaging, phone management).

The rating includes only full-fledged banks operating beneath banking licenses and beneath full management of hyperregulators. Payment techniques and organisations operating underneath payment operators’ licences are not included in the ranking.