Neobank – The prefix neo within the new time period „neobank” in Greek means „new” (from the Greek neos new), i.e. neobanks are upgraded and modernised banks, often modernised with modern functionality and forms of communication and data transfer together with primary elements like web (websites, offices) and cellular financial institution (apps, messaging, phone management).

The rating consists of only full-fledged banks working underneath banking licenses and underneath full control of hyperregulators. Payment systems and organisations working beneath payment operators’ licences usually are not included in the ranking.