The profit sharing running through the neo-bank sector •

Neobanks are bets that modern, digital native services can supplant the traditional banking landscape. Founders flocked to the idea, investors wrote out countless checks, and despite how far we are in the neobanking boom, startups are still being formed today to attack the problem space.

Lately, we’ve seen neobanks target targeted niches, often segmented by demographics. Startups are building for populations that may have been left behind by traditional banking. But not all are so specific. In fact, many of the best-known neobanks are quite common, hoping to attract a large customer base from one geographic area or another.

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You know their names. Chime is arguably the best known in the US market, Monzo and Starling are leading players in the UK and N26 is busy growing in Europe.