Neobank – The prefix neo within the new term „neobank” in Greek means „new” (from the Greek neos new), i.e. neobanks are upgraded and modernised banks, typically modernised with trendy performance and forms of communication and data transfer including primary components like internet (websites, offices) and mobile financial institution (apps, messaging, cellphone management).

The rating includes solely full-fledged banks working underneath banking licenses and underneath full management of hyperregulators. Payment methods and organisations working under fee operators’ licences usually are not included in the ranking.