What Is a Neobank?
by Michael ArchambaultSenior WriterDespite the name, neobanks have nothing to do with the Matrix, and Keanu Reeves won’t be showing up the next time you want to make a deposit. Rather, neobanks are technology companies that provide online banking services that you can access from your digital devices.Neobanks, commonly referred to as “challenger banks,” aim at providing essential financial services, such as savings and checking accounts, with an end goal