" class="no-js "lang="en-US"> Top 5 successful neobanks in Europe - Fintech Finance
Thursday, May 30, 2024

Top 5 successful neobanks in Europe

Currently, six out of ten of the most successful online banks come from the EU. Their total customer base exceeded 13 million, and the companies themselves were able to attract more than $2 billion of investments. Most of them simply explain their achievements – avoiding copying the standard banking model and moving financial services to a whole new level.

Of course, challenger banks as a business model are not always and not everywhere a lucrative undertaking. But the next 5 neobanks showed the viability of the direction and set a new trend in the fintech industry.


European Internet Bank with its head office in Berlin, which provides its services in the EU, UK, and USA. One of the oldest neobanks which is on the market for about seven years.

N26 provides many services: servicing a current account, issuing bank cards, opening deposits, servicing overdrafts, and transferring funds. In addition to this, with the help of services from the bank’s partners, right in the application, you can draw up an investment agreement on the European securities market, conclude an insurance agreement or open a credit line. The bank was the first in Europe to offer users Mastercard metal cards.


Monzo set the record when it managed to raise £1m under 2 minutes, using the Crowdcube investment platform. The application includes functions designed to accompany financial activities, such as splitting accounts, instant transactions to other Monzo accounts, support and chat in the application.

Monzo is one of the best neobanks in the UK not only because of its convenient mobile version but also because of its flexibility. An individual who is over 16 can open an account.


London neobank Revolut is considered to be one of the most popular entities in the digital banking sector. The company is equally proliferating in Europe as well as in the Americas and the Asia-Pacific region.

Revolut managed to attract more than 5 million customers in just four years and has garnered $344 million in private investment. And this is far from the limit, as the startup is preparing for an inflow of capital of $500 million.

The main features of a Revolut account are push notifications, expense categories, and recurring payments.

Atom bank

Atom Bank is the first bank in the UK created for smartphones and tablets without any branches. Also, one of the first banks offering biometric security – customers can enter the system using face recognition, voice or fingerprints.

Atom has recently announced that it would transfer its application from third-party data centers to Google Cloud in order to offer new services. In December 2019, Atom launched a total update of its application. It was based on customer feedback, hence making it more intuitive.


A British company that is famous for offering current accounts and money transfer services as a replacement for traditional banks. The service called ‘mobile-only’ provides accounts in pounds sterling, euros and Romanian lei. It is available in 31 countries. As of February, it has more than 2 million customers. It is a very interesting fact that at Monese if you are a member of the European Union, you can register an account without indicating their address or credit report.

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