The development of neobanks in Europe is a trend in the European financial landscape beginning in the 2010s.
Neobanks are a type of digital-only bank that offer financial services primarily through mobile and web applications, with little or no reliance on physical branches.
The trend was driven by advancements in technology, changing consumer preferences, and supportive regulatory frameworks.
Neobanks provide a range of services, including personal accounts, loans, and payment services, with a focus on user-friendly interfaces, low fees, and innovative features.
[3] The neobank industry in Europe has experienced rapid growth in the 2010s, with several new companies entering the market and attracting millions of customers.