Neobank
A neobank is a type of direct bank that operates exclusively using online banking without traditional physical branch networks that challenge traditional banks. The range of services provided by neobanks is not as broad as that of their traditional counterparts. Unlike incumbent banks, a large portion of the income of neobanks is mainly made up of transaction fees received when customers pay with their debit card. Neobanks are fintech companies that offer both standard banking services entirely online and non-traditional ones (peer-to-peer payments, financial advisory robots, cryptocurrency transactions, and crowdfunding platforms to raise funds for certain financial projects or their intangible equivalents that are directly related to the project). Europe 
The term neobank has been in use since at least 2016 to describe fintech-based financial providers that were challenging traditional banks. There were two main types of company that provided services digitally: companies that applied for their own banking license and companies in a relationship with a traditional bank to provide those financial services. The former were called challenger banks and the latter were called neobanks. The term "challenger bank" is used in the UK to refer to a number of fintech banking startups that emerged in the wake of the 2007–2009 financial crisis. Their services may be accessed by clients through their respective computers or mobile devices. Notable neobanks in Europe 
According to Dealroom.co the most notable neobanks in Europe are the below: 

 Monzo
 Chime
 N26
 Revolut
 Starling Bank
 OakNorth Bank
 Zopa
 Atom Bank
 Qonto
 Wise
 Adyen
 Bunq
 Viva Wallet
 Monese
 Tandem
 Nubank

India 
In India, a neobank is a class of digital-only or online bank that operates without physical branch locations. They are different from traditional banks in that they don't have physical branches and typically have lower operational costs, which can sometimes result in more competitive fees and interest rates for their customers. Unlike Europe, the regulatory environment in India is complex, with stringent regulations that govern banking and financial services. Neobanks often partner with well-established, traditional banks to provide services and adhere to these regulations. Neobanks in India typically offer a range of financial services, including savings accounts, current accounts, debit and credit cards, and other banking services. They focus on providing a seamless and user-friendly digital banking experience to a younger audience, with features like instant account setup, easy money transfers, and expense tracking. Some neobanks also target specific customer segments, such as millennials, and offer features like budgeting tools and investment options to that demographic. Indian neobanks primarily operate in Indian Rupees and may have limited cross-border services. International transactions are often handled in partnerships with traditional banks. Notable neobanks in India 
Some popular neobanks in India include

 Niyo
 Razorpay X
 InstantPay
 PayZello
 Forex Kart
 InstaD
 Paytm Payments Bank
 Walrus

