Why neobanks are no longer called neobanks

Posted on Apr 23, 2021, 7:45 AMUpdated Apr 23, 2021, 7:50 AM

We do not joke with supervisors. In barely a few days, the word “néobanque”, until now happily used by many French and foreign fintechs to communicate about their activities, has simply disappeared: Vybe, which presented itself as the “neobanque of young people”, no. today is more than an “app for young people to pay everywhere”; Qonto, the “neobank of SMEs”, has turned into an “optimized pro account”; Shine has also re-qualified as a “pro account” for entrepreneurs.

In question, a note published at the beginning of April by the Prudential Control and Resolution Authority (ACPR) in which the banking policeman reminds young shoots of the financial sector to order on their use of a term for which they do not do not have the necessary permissions. “ It happened like a hair on the soup, lets go of the boss of one of these fintechs. Especially since the ACPR itself has used the term ‘neobank’ in past studies to qualify us.

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