Can neobanks’ popularity outlast the pandemic?

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The underlying drivers of the neobank boom are long-­standing. Many customers have been poorly served by the financial system, if not shut out altogether.

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As the advert suggests, most neobanks are not technically banks. They offer debit cards and online banking services through snazzy apps. But instead of obtaining a banking charter, which is onerous, costly and time-consuming, they often negotiate partnerships with small regional lenders, which hold and insure customers’ deposits.

The pandemic partly explains neobanks’ success. Lockdowns nudged customers to open online bank accounts from home. That neobanks cashed stimulus cheques swiftly probably also helped. According to Apptopia, a data provider, the number of monthly active users of neobank apps doubled between July 2019 and June 2021, while those of traditional banking apps shrank a little. Top neobanks boasted nearly 20m downloads in the first half of this year alone.

Optimists say incumbent banks will struggle to compete with neobanks, given the difficulty of modernising technology and customer service, and the risk of cannibalising their fee-based business. Banks’ shareholders may also be less keen on innovation than venture capitalists, says Scott Galloway of New York University.

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Good Question… They will without the favouritism and interference of regulatory oversight.


My parents suffered since 1991 in Taipei, and I was asked what I want in that time. I was hurt and told to go away from Taiwan and not to go to Mainland China. My old father protect me in 2004 in the right place against Taiwan’s principle and lawyers. He passed away in 2014.

My tones are stepped to flat in Tsing Hua University’s activities in Hsinchu city in 2014, I passed off and suffered almost 30 minutes until in faint, they didn’t send me to hospital, I was asked about cut my tones off, it was a nightmare, policeman didn’t arrest anyone again.

My helmet was wiped with yellow things in Taipei in 2019.

Bus drivers bullied me and my father since 1991, I was pushed and offensively splashed in rain when going home in 2021, they did the same thing to my mom in 1991, then my mother was diagnosed with serious mental illness, she cut herself, we are suffered from people for 30 years.

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