52 New Digital Banks Added to The Financial Brand’s Neobank Tracker

Fintechs and neobanks have im=1acted the banking industry in an innovative – but incredibly disruptive — way. In just the first half of 2021 U.K. digital players already had raised more in funding than in all of 2020 ($5.7 billion, up from $4.3 billion), according to Innovate Finance data.

The Financial Brand introduced the Neobank Tracker — powered by Nymbus — in mid-April 2021 as the first public database of neobanks, challenger banks, digital-only banks, direct banks, and fintechs offering direct-to-market solutions. It proved to be incredibly popular. However, the Neobank Tracker is regularly updated and improved.

Visit the Interactive Neobank Tracker

The Financial Brand team is proud to announce the second iteration of the database, taking the collection of all-digital banking competitors to the next level — with some essential updates.

Special Shout Out:

The Financial Brand would like to thank Nymbus for their support as the Neobank Tracker’s official sponsor.

The database now also includes "Continents Served" and "Countries Served" — after prompting by readers on social media — to better indicate the locations  neobanks are active in. This is still a work-in-progress and will only be updated by companies wishing to provide this information.

Lastly, with the addition of the 52 new listings, the Neobank Tracker now has more than 320 neobanks in a searchable, sortable online database. It’s the most complete and comprehensive compilation of all the challenger banks in the financial industry. The new entries are detailed below.

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Adyen

Payments PFM Tools

Adyen is a payments software company founded in 2006 and headquartered in Amsterdam (Netherlands). It caters specifically to businesses, offering detailed reports and PFM tools in its suite of products and boasting partnerships with leading businesses such as Uber, Microsoft, Pinterest, Ebay, McDonald’s and Spotify.

AfterPay

Payments

AfterPay, while an unconventional banking provider, is a payment-after-delivery service, offering short-term "loans" to customers purchasing items or services on e-commerce websites. It was launched in 2016 in Sydney, Australia.

Agora

Digital Banking Financial Education

Agora — which owns "Teenz Power" and soon-to-launch ilovesmb.com — is still a relatively new player in the space, having got started in Atlanta in 2018. Its "Teenz Power" product has it all in the name. The company has a catalog of teen-orientated products and financial education softwares for parents to monitor their kids’ spending habits.

Alliant Credit Union

Digital Banking Lending Payments Investments

Alliant Credit Union is one-of-a-kind in the Neobank Tracker. While it’s a traditional chartered credit union, it has no branches and relies solely on its digital footprint. An Illinois-based financial institution, it was established in 1935 and now operates a directory of 600,000 members.

Ando

Digital Banking Payments Financial Education

Ando is a traditional take on the neobank, equipped with savings and checking accounts (and a debit card to go with it), checkbooks, a list of pre-approved ATMs and early pay. But, the company also promises its customers investments will "only support green initiatives." While it launched in 2021 in San Diego, it already has about 10,000 customers.

Editor’s Note: As of November 2o22, Ando has closed its operations.

Anglo-Gulf Trade Bank

Digital Banking Lending Payments Investments

Just three years old, the Anglo-Gulf Trade Bank (AGTB) calls itself the "first digital corporate trade bank," headquartered in Abu Dhabi. Its primary audience is businesses.

Atmos

Digital Banking

Atmos Financial is another neobank working to fuel the climate crisis agenda, although it’s doing it by getting customers access to up to 0.51% APY on savings accounts, of which Atmos says people can manage several at one time. FDIC insured, the bank was established in 2020 in Berkeley.

Axos Financial

Digital Banking Lending Investments

Axos was a pioneer for the digital-only movement before the movement even existed. It calls itself the "Bank of the Internet," opened seven years before the first true smartphone. Catering to both consumers and businesses, people can bank, take out a loan and invest all with Axos.

BankMD

Digital Banking Lending

A subsidiary of Texas-born Trans Pecos Bank, BankMD is a digital-only financial institution focused on the bridge between physicians and consumers and businesses.

Branch

Digital Banking Payments PFM Tools Financial Education

Branch works with businesses to get benefits and money right into the hands of employees as quickly as possible — even offering fee-free debit cards to employees. It’s a Minneapolis-based company and was launched in 2015.

Budget Banking

Digital Banking PFM Tools Financial Education

Budget Banking, started in 2017 in Nashville, advertises itself as a banking experience customers and businesses have never seen the likes of, saying it was built from scratch. It says it offers traditional products, mixed with personal finance management softwares and financial education tips.

Chaperone Limited

Payments

Chaperone, which isn’t available for customers outside of Africa, is a payment software company based in Meseru for customers and businesses for e-commerce purchases.

DynaPay

Digital Banking Payments

DynaPay, launched in the United Kingdom in 2004, is a purely small business and merchant software company, getting fintech solutions into the hands of business owners.

EQIBank

Digital Banking Lending Payments Investments

EQIBank — established in 2015 and headquartered in Roseau, Dominica — nicknamed itself "the world’s digital global bank" and is considered one of the top ten digital banks to watch. It offers card services to private and business clients and various wealth management services.

Equip Money

Lending

Designed for the small business market, EquipMoney offers loans up to $15,000 to verifiable businesses, for loan terms anywhere from one to five years. It’s brand new, only launched in 2021 in Des Moines, Iowa.

Esusu

PFM Tools Financial Education

Similar to new initiatives started by the Bilt Mastercard, Esusu’s mission is to help people build credit by reporting their rent payments to the three credit bureaus. It got started in New York City in 2017.

Facile

Digital Banking Payments

With the help of Nymbus — a software company — Pacific National Bank launched Facile with easy split-the-bill options, custom text alerts and more. Division of Pacific National Bank

Flyp Financial

Digital Banking Payments Financial Education

Flyp, launched in Charlotee, North Carolina in 2020, calls itself a social impact digital bank built on the principle that all Americans deserve access to high quality affordable banking services regardless of socioeconomic status race ethnicity or age.

Freo.money

Digital Banking Lending

Freo is another true neobank — equipped with savings accounts, credit lines, pay later apps and financial utilities. It has a waitlist right now for its latest savings account (7% interest rate) which it says will "build credit health." Right now, it’s only serving clients in India, where it’s headquartered.

Genome

Payments

Genome is an Electronic Money Institution, founded in 2018 and licensed by the National Bank of Lithuania. Genome provides online financial services for businesses and individuals. Via Genome, users can open a personal, business or a merchant account, access transfers, exchange currency, process payments, and manage the funds.

GoCardless

Payments

GoCardless is another payments software company for businesses, advertising it is now powered by "open banking." The London, UK-based company was launched in 2011 and is only serving the United Kingdom at this time.

HyperJar

Digital Banking PFM Tools

HyperJar is all about savings — customers get a Hyperjar card after they sign up for external purchases, but they can also set aside money in as many savings accounts as they like (nicknamed "jars"). Instead of moving money around, a person can spend money from any of their jars. It is not yet available for U.S. customers.

Ivy

Digital Banking

Ivy Bank is a subsidiary of full-service mutual Cambridge Savings Bank (CSB), based out of Cambridge, Mass., but it’s the digital-only version. Launched in mid-July 2021, customers get access to high-interest rate products, personalized service and security their deposits are fully FDIC-insured.