neobank noun1 •A modern type of direct bank that operates exclusively online without a traditional physical branch network, often mobile-first and even without banking licence.It comes only 18 months after Schroders ploughed £9.9m into the firm as part of a big funding round for Revolut, which the asset manager lauded as an “ambitious neobank”, in the summer of 2021. — 2023 formsneobanks
