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Neobanks — digital-only banks with industry-leading capabilities that don't operate physical branches or rely on legacy back-ends — have exploded onto the global scene in recent years.
Business Insider Intelligence
Increased consumer interest in neobanks is stimulating competition globally, creating an increasingly competitive landscape which has driven neobanks to roll out extravagant features, like overdraft protection and sign-up incentives.
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See Also:
- Nasdaq has launched a cloud-based data service that will operate through Amazon Web Services
- Global remittance volume is projected to fall 20% in 2020 due to the effects of the coronavirus
- Monzo has filed an application for a US banking license
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