Neobanking app development is becoming more and more popular in the financial industry in this day and age of everything and everyone being online. To keep up with the increasing demand for digital banking services, fintech startups and companies are devoting a large amount of resources to the development of these applications.

A neobanking app, though, is what? How can one create a unique app for neobanking? What are the advantages of developing it?

Appic Softwares has provided thorough responses to each of these queries in this blog. Read this blog through to the finish if you’re interested in learning everything there is to know about developing neobanking apps. Now let’s get going!

What are Neobanking Apps?  

The neobanking app is the specific app for neobanks, as the name implies. What, though, is a neobank?

A neobank is just a bank or fintech company that operates virtually and provides a variety of financial services like P2P payments, cross-border money transfers, debit and credit card issuing, account management, budgeting tools, and more. The banking services offered by different neobanks may differ.

Neobanks, as opposed to regular banks, exist solely online. Is it, however, the sole distinction between neobanks and conventional banks? More elements, that is, set the two apart.

See a detailed comparison of traditional banks and neobanks in the following section. 

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