Top Neobanks Companies You Will Love and Use Every Day.

“Banking the Unbanked” and Make Domestic and International Transitions smoother these are just a few reasons behind the Neobanks and the Fintech Movement.

5 min readMar 12, 2021

Neobanks_who_are_challenging_traditional_banks — Neobanks who are challenging traditional banks

Technology during the last decade had an exponential growth rate and we can expect the same, or even more, in the future especially in all the sectors related to Emerging Technology: which includes fields like Fintech, IoT - Internet of Things software, big data, analytics, Augmented Reality, Virtual Reality, etc., with a forecast from Statista Inc. of +104% (2018–2023);

Covid-19 also will be a strategic booster of the implementation of new technologies in order to comply with the actual regulations from turning the world into a cashless economy, where transactions can be made in seconds and where some jobs can be done from everywhere.

emerging_tech_growth_rate — IT growth rate forecast for the time period from 2018 to 2023, separated by segment Source: Statista

Back to our topic: What Is Fintech

An accurate definition from Oxford Languages is the following:

Computer programs and other technology used to support or enable banking and financial services.

Fintech, Fin(Finance) Tech(Technology), relates to the application of innovative technological solutions in the Financial Services industry.

These solutions are mostly developed by startup companies, which offer their services to established firms. The area most affected by Fintech companies are mobile wallets and payments. This comes in line with an increasing number of people using a mobile banking app, particularly amongst young people.