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 modern functionality and types of communication and data transfer including fundamental components like web (websites, offices) and mobile financial institution (apps, messaging, telephone management).

The ranking includes solely full-fledged banks operating beneath banking licenses and under full control of hyperregulators. Payment techniques and organisations working under payment operators’ licences aren’t included in the ranking.