甚麼是新型銀行及其如何擁抱數碼貨幣

Neobanks 正成為銀行界的重大變革力量，為熱愛加密貨幣的新世代提供全數碼化金融服務。這些純線上銀行無需實體分行，全靠先進科技，透過型格流暢的手機應用及網上平台提供銀行服務。隨着加密貨幣越趨主流，愈來愈多新型銀行加入加密貨幣功能，日益模糊傳統金融與數字資產的界線。

本文將深入探討新型銀行是甚麼、與傳統銀行的主要分別、不同新型銀行的模式，以及它們與加密貨幣日益緊密的關係。我們亦會介紹新型銀行為何興起、其優缺點、全球具代表性的例子、各地區監管特色，以及在不斷演變的加密金融新生態下，這些金融科技創新者的未來發展方向。

1. 甚麼是新型銀行？－定義及概覽

新型銀行（或稱「新世代銀行」）本質上是完全線上的銀行，沒有任何實體分行。不同於有實體網點的傳統銀行，新型銀行只會經數碼渠道（例如手機App及網頁）提供服務。它們的核心業務和傳統銀行類近——往來／活期帳戶、支付、儲蓄，有時甚至提供貸款——但着重以流暢的流動體驗吸引科技用家。新型銀行常配置即時結餘、消費提示、理財工具及AI分析等迎合現代人的功能。由於無需經營分行及櫃台，新型銀行的開支相對較低，能夠提供更低甚至免費的帳戶服務費，存款利率亦更具吸引力，相較傳統銀行有明顯競爭優勢。

值得留意的是，新型銀行屬於被稱為「挑戰者銀行」的一個子類別。雖然傳統銀行亦紛紛進行數碼轉型，但新型銀行由始至終只存在於網絡世界，完全沒有舊有硬件包袱。「Neobank」一詞的「neo」來自希臘語，意即「新」，突顯出這些銀行是為網絡時代而生。大部分新型銀行本質上是金融科技公司，初期會與持牌銀行合作或取得特定牌照，而非一開始就擁有完整銀行牌照。這使它們可以利用創新技術及靈活開發，提供接近銀行的服務。簡單來說，新型銀行就是全數碼原生的金融服務提供者，強調方便、低收費及現代化功能，透過智能手機或電腦帶來全新銀行體驗。

2. 新型銀行 vs 傳統銀行－主要分別

新型銀行與傳統實體銀行有以下幾個根本分別：

無實體分行：最明顯的特色就是新型銀行沒有自己的分行或ATM。開戶、查詢、存款、付款等所有服務均以App或網頁完成。這種無分行模式大幅降低營運成本（如租金、人手及水電），令新型銀行可提供較低甚至免費帳戶服務費，以及高息存款。反觀傳統銀行因維持實體網點而有較高開支，通常要收取管理費及提供較低利率。

科技及基建：新型銀行以雲端技術和靈活的軟件開發為骨幹，不斷推新功能，常用微服務架構及先進的AI聊天機械人客服。相反，傳統銀行依賴過時且複雜的核心系統，升級或整合新功能較為困難，新型銀行則能更快創新。

商業模式及服務：大部分新型銀行初期專注於少數重點服務（如附帶扣帳卡的活期帳戶），並以極佳用戶體驗見稱，日後才逐步擴展產品。傳統銀行則一站式提供多元產品（貸款、按揭、信用卡、保險、投資等）。新型銀行通常定位精簡，主打特定客群或需求，如最初只提供預付卡加理財App，後來才加入儲蓄戶口或借貸。這種聚焦令其用戶體驗更流暢，傳統服務雖全方位但用戶體驗有時較有阻滯。

監管及牌照：新型銀行背後最關鍵分別在於監管方式。大量新型銀行成立初期並未直接持有完整銀行牌照，而是與受監管銀行合作代持資金，或申請電子貨幣牌照等金融科技準照運作。例如美國的Neobank會將存款儲存在有FDIC保險的合作銀行，或歐洲初期很多新型銀行用電子貨幣機構牌管理支付業務。傳統銀行必須持有正規銀行牌照，滿足嚴格資本、申報及監管要求。新型銀行即使無自家牌照，仍需遵守金融規例（多經合作夥伴或特定牌照實現），但運作上會有所不同。例如美國監管機構要求Chime等必須清楚說明「Chime不是銀行」，其服務由合作銀行提供。歐洲部份（如N26、Monzo）則已取得正式銀行牌照，有些則由輕牌照起家，後再升格。總括而言，新型銀行與傳統銀行同樣要遵守消費者保障與安全規定，但很多新型銀行是用另類或過渡模式進入市場。

客戶體驗及普及度：新型銀行最自豪就是流暢的客戶體驗。只要手機在手、數分鐘內即可開戶，並以數碼KYC（如掃身份證、自拍驗證）處理。傳統銀行則通常要親身到分行，文件手續較繁複。新型銀行亦多設有24/7 App內即時客服或AI支援，傳統銀行則傾向以辦公時間熱線或親臨處理。對年輕或精於科技的用戶，新型銀行的便利與用戶體驗遠超傳統銀行的面對面模式。不過，重視人情服務或複雜理財（如按揭諮詢）的人更可能選擇傳統銀行。此外，針對無法滿足傳統銀行嚴謹審核的人（如財務記錄不足），新型銀行提供更方便、無門檻的開戶選擇以惠及弱勢社群。

總結，新型銀行在營運方式（數碼vs實體、新科技vs舊系統）及產品模式（專注、低費用、流暢體驗vs全面服務、實體網點）均有別於傳統銀行。雙方都受到監管約束，但新型銀行以創新結構進入市場，於成本及體驗上挑戰傳統巨頭。

3. 新型銀行類型－獨立運作與合作模式

並非所有新型銀行結構都一樣。大致而言，根據運作模式及牌照取得方式可分為兩大類：

全套（獨立）新型銀行：這一類是獨立運作、具完整銀行牌照的新型銀行，能同時經營面向用戶及後端銀行業務。全套新型銀行已獲取自家銀行牌照（或等同國家牌照），可直接持有客戶存款並受監管。這類銀行完全主控技術架構，包括前端應用及後端核心銀行系統。由於無需依賴第三者，它們可在自家環境內提供更多樣化服務。例如N26、Monzo、Starling Bank等，都經歷嚴格的牌照申請程序成為持牌銀行。這些銀行屬於「獨立」性質，客戶資金由銀行本身託管，並受本地存款保障計劃保護。全套新型銀行雖然可主控業務及有更大盈利空間（如放款等），但同時須承擔更高監管壓力及資本要求。

前端為主（合作型）新型銀行：此類新型銀行重點打造用戶介面及體驗，背後則靠一間或多間傳統銀行託管資金及提供合規服務。這種模式下，新型銀行自身無銀行牌照，主要透過取得銀行作為合作夥伴（或利用銀行即服務平台）支持，負責核心銀行業務。對客戶而言，他們感覺一直與新型銀行品牌互動，但法理上戶口實際可能屬於合作銀行。例如Revolut早期就是如此——多年來未有完整銀行牌照，只靠電子貨幣牌照及合作方式運作。美國不少新型銀行也採用此路線，例如Chime這類，與FDIC保險的銀行（如The Bancorp Bank、Stride Bank）合作實際提供帳戶服務。這些前端... neobanks 喺用戶體驗（UX）、功能同針對特定市場推廣方面都非常出色，而合規部分就外判畀已經有執照嘅傳統金融機構。咁做嘅好處係可以更快推出市場，亦減低咗入行門檻（唔需要一開始就符合銀行資本要求）。但壞處就係會變得依賴夥伴——佢哋需要同合作方分利潤，而且產品設計方面彈性較少（要受制於合作方嘅能力同監管限制）。

另一個分法可以叫做「全棧」（full-stack）同「輕棧」（light-stack）。全棧neobank會自己起或者擁有銀行核心系統；輕棧（只有前端）其實就係金融服務app，搭建喺另一間持牌銀行嘅框架之上。隨住「銀行即服務」（Banking-as-a-Service，BaaS）供應商冒起，呢種前端模式愈來愈普遍——金融科技新創可以即插即用咁接入一啲有齊銀行功能嘅API平台。因而出現咗好多切合某啲社群或者行業需要嘅細分neobank，而唔需要間間都由零開始攞銀行牌照。

值得一提，有啲neobank會由一種模式逐步演變成另一種。例如Revolut一開始只係做前端app（屬電子貨幣機構），之後先喺多個國家攞咗銀行牌照，轉做full-stack；美國SoFi（網上貸款及銀行公司）就喺2022年透過收購一間小型既有銀行，正式攞咗銀行執照，由純粹fintech平台變成受監管銀行。即係話，兩種模式有時都會混合或者模糊，但理解兩種基本原型好有幫助：一種係「我哋由零開始打造咗間新銀行」，另一種係「我哋整咗個好型嘅app，然後搵間銀行幕後合作」。

4. 為何Neobank會出現——歷史背景同推動力

Neobank興起，其實係2000年代末到2010年代多種因素夾擊嘅產物：科技突破、消費者期望改變、對傳統銀行失望、加上監管機構鼓勵新玩家進入金融市場。

2008年金融危機後信任斷層：2008年全球金融危機令大眾對大型銀行信心大失。傳統銀行忙住搞掂資產負債表同新監管，消費者則愈嚟愈唔耐煩，覺得收費高、服務差。有啲地區啲監管機構都想增加行業競爭，避免「大到不能倒」情況，亦想推動創新。例如英國2010年後推咗改革，等新銀行更易攞牌，歐盟亦有推動開放銀行業（好似PSD2，稍後會講）。呢啲都令新創有機會從零重新構想銀行業。

科技進步：2000年代末到2010年代，智能手機急速普及，高速流動網絡同雲端運算都大爆發。咁即係可以全用App提供金融服務，方便又易scale。Fintech創業者發現，金錢服務都可以好似音樂、購物咁裝落部電話度提供。用雲端整同營運一個基本銀行平台，成本就遠低過開分行。API等科技又令到新App可以好快同唔同服務供應商（例如KYC驗證、支付網絡）連接。網絡安全技術都進步，網上理財冇以前咁危險。科技基礎降低咗入場難度——細型創業公司都可以靠第三方銀行基礎設施、整個app推出類似銀行嘅新服務，唔使有舊銀行咁重嘅IT包袱。

消費者期望改變：新一代客戶（千禧世代同Z世代）係App即時、on-demand年代長大，當然期望銀行一樣咁方便。佢哋慣咗喺手機上做哂所有嘢，唔太想去分行。新用戶要24/7無間斷服務、實時資訊同個人化。傳統銀行好多時網上界面老土又難用，或只得朝9晚5分行服務，難滿足呢類需求。Neobank就主打user-friendly手提體驗，針對年輕同數碼原住民，例如即時emoji通知、App入面有消費紀錄圖表、開戶註冊超快捷等，針對睇唔慣/用唔慣傳統銀行界面嘅人。

Fintech爆發同資金支持：2010年代一波支付、貸款、個人理財fintech startup湧現。風險投資資金湧入，令到例如開新銀行咁大膽嘅項目都有人做。創業者認為，可以「拆散」銀行——例如淨係做一張冇手續費嘅預付卡，做到好過傳統銀行，甚至重建整個銀行模式。早期大規模數碼金融app成功（例如PayPal、肯尼亞M-Pesa），證明非傳統玩家都可以管理大筆金錢。資金流入挑戰者銀行，助佢哋急速增長、強勢推廣，數以百萬人短時間已經用緊，而傳統銀行做同樣嘢可能要幾十年。

監管放寬與開放銀行：某啲地區管理層積極為neobank鋪路。如歐洲嘅第二版支付服務指令PSD2，要求銀行要開API畀第三方，令fintech可以以銀行數據為基礎開發新功能。呢個「開放銀行」政策，俾咗neobank同fintech app可以將用戶喺其他銀行嘅帳戶數據聚合埋一齊，促進公平競爭。英國監管機構（FCA同PRA）由2014年起對新銀行申請牌照態度大為開放，誕生咗好幾間英國neobank。澳洲同香港則於2018–2019年發新數碼銀行牌照（數十年嚟首次），明刀明槍為創新鋪路。呢種監管支持降低咗有實力的tech startup入場銀行業嘅門檻。

切入被忽略嘅客群：好多neobank都發現傳統銀行冇好好服務某啲人群——例如年輕人、freelancer、細微企業，或者啲銀行壟斷市場嘅國家。比如2013年在巴西成立的Nubank，正因為巴西銀行收費極高、服務又差，數百萬消費者（尤其年輕人）湧去Nubank個無手續費App信用卡同賬戶，做到拉丁美洲最大neobank。好多neobank專攻「服務不足者」或者對傳統銀行唔滿意嘅人，提供簡單啟戶流程（冇大堆文件，唔使最低結餘）同包容性功能。切入市場缺口，令neobank急速起飛。2018年全球neobank市場值約186億美金，預期每年複合增長率高達46%，到2026年可能近4000億——正說明需求巨大。

總結嚟講，neobank係源自對傳統銀行唔信任、手機科技普及、新消費需求同有利監管夾擊下誕生。佢哋原本係一個清新選擇：易用如whatsapp咁簡單嘅銀行App、收費透明、功能現代化。2015–2022年fintech「大爆發期」尤甚，每年全球都有大量neobank成立。雖然唔係間間都生存到或做大，但截至2020年代中，倖存者合計已經有超過三億用戶，証明咗neobank能夠正正回應市場真實需要。

5. Neobank對消費者、企業嘅好與壞

好似所有創新一樣，neobank都有其明顯好處同局限。以下總結一下用戶（同時都包括會用或同佢合作嘅企業）的得失：

優點（好處）：

方便及全天候存取：Neobank等於你可以隨時隨地用手機或電腦搞所有銀行嘢。開戶、過數、交賬單、全部唔使去分行，24/7全天候隨時用，對時間唔多或者住得遠的人尤其方便。企業都著數，老闆都可以隨時管理公司財政，唔洗遷就銀行開門時間。

低收費及更佳利率：營運成本低，neobank普遍冇月費或者手續費好低。好多neobank免除每月賬戶費、透支費、跨境收費低過傳統銀行，有啲仲提供更高存款利息。用戶可以真正慳到錢。細型企業或freelancer用neobank都會節省銀行成本（例如商業賬戶免手續費、國際支付FX費用好低）。

易用界面：neobank app通常設計簡潔、易navigate，好直觀。好多內置個人理財小工具：消費分門別類、預算計劃、目標式儲蓄子賬戶。交易即時通知等住你理財。咁強調UX，對唔習慣舊式網上銀行嘅人尤其貼心、用起嚟冇咁壓力。

創新功能：好多neobank一啲功能後來連大銀行都抄，例如即時消費警示、內建預算圖表、自動儲蓄規則（例如round-up）、網上消費虛擬卡、簡單一按可凍結/解凍實體卡等。有啲更有額外優惠如回贈、加密貨幣交易（稍後會再講）、或提早收工資等特殊功能。對業務用戶，某啲neobank更提供即時開發票、員工支出管理、會計軟件集成——全部一個數碼dashboard搞掂。

開戶快又簡單：開neobank戶口通常非常快捷。你download the app, enter your info, upload ID documents, and often get an account ready to use within minutes (after identity verification). There’s no tedious paperwork. This is a boon for consumers who want a hassle-free experience. For entrepreneurs and startups, being able to open a business account online without a lengthy vetting process is extremely convenient, speeding up time to start operating.

下載應用程式，輸入你的資料，上載身份證明文件，並且通常只需幾分鐘內（經過身份認證後）帳戶就可以用。完全冇繁複嘅紙本手續。對於想要無煩惱體驗嘅消費者嚟講，呢啲係一大福音。對於創業者同初創企業，可以在線開設商業帳戶，唔需要經過冗長審核程序，極為方便，加快營運啟動時間。

Financial Inclusion: Neobanks have lowered barriers to banking for many. People who might have been turned away by traditional banks (due to no credit history, lower income, or lack of local branches in their area) find neobanks more accessible. Many neobanks don’t require a minimum balance and have straightforward requirements, welcoming segments like students, gig economy workers, or the previously unbanked. By focusing on mobile delivery, neobanks can reach remote or underserved areas as long as there’s internet connectivity. In emerging markets, neobanks and fintech apps have brought millions into the formal financial system for the first time.

金融共融：虛擬銀行令好多人成為銀行服務嘅受惠者。以往可能因為冇信貸紀錄、收入較低或者當區冇分行而俾傳統銀行拒諸門外嘅人，都會發現虛擬銀行更容易接觸。好多虛擬銀行都無最低結餘要求，開戶條件簡單，學生、零工經濟從業者、或者之前完全未用過銀行服務嘅人士，都非常歡迎。專注手機服務，令虛擬銀行可以只要有網絡就覆蓋偏遠或者欠奉銀行服務嘅地區。喺新興市場，虛擬銀行同金融科技應用亦令數以百萬計用戶首次進入正規金融體系。

Transparency and Control: Generally, neobanks pride themselves on transparent pricing and easy control over your finances. Apps often show clearly any fees before you confirm a transaction. You can often self-service tasks that would require contacting support at a traditional bank – for example, adjusting your card’s spending limits, or categorizing transactions. This empowers users to feel more in control of their money, and reduces the frustration of dealing with bank bureaucracy.

透明度同自主管理：一般嚟講，虛擬銀行以收費透明同容易自己管理財務為賣點。應用程式往往會喺你確認交易前清楚列明所有收費。好多你平時要打電話去傳統銀行先處理嘅嘢，例如設定卡消費限額、分類交易等，你都可以喺App自己搞掂。咁可以令用戶對自己嘅財政更有掌控感，減少同傳統銀行「走程序」嘅煩惱。

Cons (Drawbacks):

Limited Product Range (at least initially): Most neobanks started with a narrow offering – perhaps just checking accounts and debit cards. Many still do not offer complex products like mortgages, extensive loan options, or investment products (unless through third parties). So if you need a full suite of financial services under one roof, a neobank might not (yet) fulfill all those needs. Some neobanks have added offerings over time or partnered for things like insurance or loans, but it can lead to a fragmented experience when third parties are involved. Businesses might find neobanks lacking in credit facilities or merchant services that a traditional bank could provide.

產品選擇有限（起初特別明顯）：大部分虛擬銀行一開始都只提供好基本嘅服務——例如支票（戶口）同扣賬卡。至今好多都未有按揭、各類貸款或者理財投資產品（除非透過第三方提供）。如果你想喺同一間銀行攞齊所有金融服務，虛擬銀行可能（暫時）未必可以完全做到。部分虛擬銀行會逐步增添新產品或者同外部夥伴合作（例如保險、貸款等），但只要涉及第三方，就好容易令用戶感覺服務體驗散亂。商戶用家亦可能會覺得虛擬銀行冇法比傳統銀行咁提供信貸或商戶服務。

No Physical Presence – Lack of Personal Touch: The absence of branches is a double-edged sword. While many enjoy not needing them, some customers do value being able to walk into a bank and speak to someone, especially for complex issues or large transactions. With neobanks, support is via chat, email, or phone. For those uncomfortable with digital interfaces or who prefer face-to-face service, neobanks can feel impersonal. Handling certain things (like notarizing documents, cash deposits, or simply getting in-person financial advice) is not possible at a neobank. This can be a drawback for people who aren’t tech-savvy or who have complicated banking needs. Businesses that handle a lot of cash, for example, might struggle with a bank that has no branch to deposit cash (though some neobanks partner with retail stores or ATM networks to facilitate cash deposits, usually for a fee).

冇分行 —— 欠缺人情味：冇分行嘅設計係雙面刃。雖然唔少人覺得冇分行好方便，但都有客戶重視可以親身行入銀行搵人傾下特別複雜或者大額交易。用虛擬銀行時，支援只可以靠網上chat、電郵或者電話。唔習慣電子介面、或者鐘意面對面服務嘅人，會覺得虛擬銀行過於冷冰冰。有啲嘢（例如文件律師公證、存現金、或者親身理財建議）虛擬銀行基本做唔到。對於唔熟悉科技或者銀行需要比較複雜嘅人，呢點會係一個弊端。舉例，如果你間公司要處理大量現金，冇分行俾你存現，可能會好麻煩（雖然有啲虛擬銀行會同零售店或者ATM網絡合作方便你存現，但通常都要收費）。

Trust and Brand Strength: Established banks have been around for decades (or centuries) and have built trust (even if begrudging) that they will safeguard money. Neobanks are relatively new and some customers might be hesitant to keep large sums or salary deposits in a fintech-run bank. While many neobanks do insure deposits (either directly or via partner banks), the lack of a long track record can make people nervous, especially older customers. High-profile failures of a few fintechs in the past can also fuel caution. In times of financial uncertainty, consumers might retreat to the perceived safety of big traditional banks. So, a neobank has to overcome the challenge of appearing reliable despite its youth. This is improving as some neobanks have now operated for years and gained millions of users without issues, but the trust gap still exists for a segment of users.

信譽同品牌認受性：傳統銀行有數十年（甚至幾百年）歷史，無論你鍾唔鍾意，基本都建立咗客戶信任——錢擺落去唔會唔見。虛擬銀行相對「新仔」，有部分人會對將大筆儲蓄或者份糧擺喺一間金融科技公司營運嘅銀行猶豫。雖然唔少虛擬銀行係有為存款投保（直接或者透過合作銀行），但冇一條長年無事嘅記錄，特別老一輩會無咁放心。以往有啲金融科技公司大鑊收檔，亦加深咗用戶嘅擔心。金融動盪時期，消費者更有可能選擇返傳統大銀行的「安全感」。因此，虛擬銀行必須克服新公司冇傳統信譽嘅劣勢。雖然唔少虛擬銀行而家已經穩定經營咗好幾年，冇大件事，吸納咗幾百萬用戶，信任差距始終有一部分人仲未接受。

Regulatory Grey Areas & Deposit Insurance Concerns: If a neobank is not a licensed bank itself, customers must understand who actually holds their money. In the U.S., for example, your Chime or Revolut USD account is actually held by a partner bank where it’s FDIC-insured. If the neobank’s app has a long outage or the fintech goes under, your money should still be safe at the partner bank, but the process to access it might be convoluted. In some cases, neobank users might not have full clarity on deposit protection – especially with crypto-related accounts (not government-insured) or if the neobank operates in a lightly regulated space. Neobanks also face evolving regulations; changes or crackdowns can impact their services quickly (e.g., a regulator might suddenly forbid a certain feature). In short, the regulatory setup can be complex, and while they operate legally, customers need to be aware of how their money is protected.

監管灰色地帶同存款保障疑慮：如果間虛擬銀行本身冇正式銀行牌照，用戶必須清楚究竟邊個真正「托管」你啲錢。例如美國Chime或者Revolut嘅美金戶口，其實真正係由一間有FDIC存款保險嘅合作銀行托管。如果間虛擬銀行系統大當機或者金融科技公司結業，你啲錢理論上都安全，因為擺咗落合作銀行，但到時攞錢嘅流程可能會相當複雜。有時虛擬銀行用家未必徹底明白存款保障（特別係涉及加密幣嘅戶口，冇政府保險），又或者間虛擬銀行喺監管好寬鬆嘅地方運作。虛擬銀行又經常要面對不斷變化嘅監管規定，大幅收緊或者禁止某啲功能隨時發生。總括而言，監管結構可以相當複雜，即使合法運作，用戶都要了解自己資金點樣受到保障。

Customer Service and Problem Resolution: While many neobanks offer quick in-app chat support, some users have complained about difficulties in resolving issues that fall outside the norm. For example, disputing a transaction, dealing with fraud on your account, or other exceptional scenarios can be stressful without a physical branch to escalate to. Some neobanks have small support teams relative to their user base, leading to slow response times during peak issues. If your account gets mistakenly flagged for fraud (e.g., automated systems lock you out), getting it unlocked can take time when you can’t just visit a branch with your ID. This isn’t to say traditional banks are models of great service universally, but the human touch in complex problem resolution can be lacking in digital-only banks.

客戶服務及解決問題：好多虛擬銀行都支援即時chat客服，但用戶有時遇到「特別case」會好難搞掂。例如你想爭議一宗交易、處理帳戶懷疑被詐騙或者其他特殊情況，冇分行可以上門投訴會令過程好大壓力。有啲虛擬銀行客服人手少，用戶一多或者High Peak時期支援會好慢。如果你個戶口誤中系統自動lock（例如誤當詐騙封咗你戶口），你又唔可以拎埋身份證行入分行解釋，要解封可能要等好耐。當然唔係話傳統銀行個個都服務好，但遇到複雜問題，虛擬銀行比較欠缺人手處理。

Reliance on Technology – Downtime Risks: Because neobanks are purely digital, if their app or website goes down due to a technical glitch, customers have no alternative way to access services during that outage. Traditional banks also have outages, but one could still withdraw cash from an ATM or visit a branch in some cases. With neobanks, app downtime means an inability to transact, which can be frustrating or even financially damaging if it occurs at a bad time. Similarly, any cyber-attack or data breach could temporarily halt services, though to their credit neobanks typically use very robust security measures (often more modern than some old banks). In essence, using a neobank means you’re highly reliant on your phone, internet, and the bank’s servers being up.

全靠科技 – 系統停擺風險：虛擬銀行一切服務都靠網絡App，如果App或者網站死機，用戶淨係可以等冇替代方案。傳統銀行有時都會當機，不過仲有ATM可以攞錢，或者上分行處理。虛擬銀行當App Downtime，即係完全無法做交易，如果個時間敏感可能會影響薯仔，甚至蝕錢。再者，黑客攻擊、資料外洩都會令服務暫停，雖然虛擬銀行一般會用最新安全措施（有時比舊銀行仲進步）。總括而言，用虛擬銀行，即係要信你部電話同網絡隨時Work，同埋信間銀行啲伺服器唔會down。

For businesses, many of the above points apply similarly. A small business owner might love the low fees and easy invoicing of a neobank’s business account, but they might miss having a dedicated relationship manager or the ability to walk into a bank to discuss a loan. A startup might use a neobank for quick account setup, but later as it scales, it may need additional services (like international trade finance or large credit lines) that neobanks don’t provide, forcing a switch to a traditional bank.

對做生意嘅人，上述好多問題都同樣適用。一個細生意老闆可能會好欣賞虛擬銀行低手續費、開發票容易，但會覺得冇專人跟進戶口同冇得行入銀行商討貸款係劣勢。初創企業可能初頭快快手搞好帳戶，但生意做大要用到其他服務（例如國際貿易融資或者大額信貸）時，虛擬銀行未必提供，最後又要返轉頭用傳統銀行。

In weighing pros and cons, it often comes down to personal preference and needs. Neobanks excel in convenience, cost, and innovation; traditional banks still win on breadth of services and sometimes that tangible reassurance. Many people use a hybrid approach – keeping a neobank account for daily spending and a traditional bank for other needs. The good news is, competition from neobanks has pushed many incumbent banks to improve their own digital offerings and reduce fees, which benefits all consumers.

總結優缺點，其最終都係睇你自己鍾意同需要咩。虛擬銀行勝在方便、平、創新；傳統銀行始終在於服務範圍齊、俾到某種「有形」安穩感。唔少人選擇混合做法——用虛擬銀行每日支出，傳統銀行做其他事。好消息係，虛擬銀行競爭刺激傳統銀行改善數碼服務同減低收費，消費者最終得益。

6. Neobanks and Crypto – How & Why Neobanks Integrated Cryptocurrency

Given the tech-forward nature of neobanks, it was perhaps inevitable that they would intersect with the world of cryptocurrencies. In the past few years, an increasing number of neobanks have started offering crypto-related services – from in-app trading of Bitcoin and Ethereum, to supporting stablecoins or even exploring their own digital tokens. Here’s how and why this integration with crypto has come about:

考慮到虛擬銀行本身走科技路線，好自然會同加密貨幣世界結合。近年越來越多虛擬銀行開始提供加密幣相關服務——由App內買賣Bitcoin、Ethereum，到支援穩定幣，甚至發展自家數碼貨幣。以下係點解同點樣會有呢個整合：

How Neobanks Offer Crypto Services:

Most neobanks enter the crypto space by enabling their users to buy, sell, and hold cryptocurrencies directly within the banking app. This typically takes the form of a crypto trading feature, where a user can convert a portion of their fiat balance (e.g., dollars or euros) into Bitcoin, Ethereum, or other coins, and vice versa. For example, European neobank N26 launched “N26 Crypto” in late 2022, allowing users to trade nearly 200 cryptocurrencies right from the N26 app. Behind the scenes, N26 partnered with an established crypto exchange (Bitpanda) to handle execution and custody of the coins – the user sees a seamless experience in one app, but Bitpanda provides the crypto liquidity and wallet infrastructure. Similarly, Revolut has offered crypto trading since as early as 2017; Revolut started with just a few coins and expanded over time, effectively acting as a brokerage where users can get exposure to crypto.

虛擬銀行如何提供加密幣服務：

大部分虛擬銀行進軍加密幣市場，做法係直接喺銀行App內容許用戶買賣同持有加密貨幣。一般形式係個交易功能，用戶可以將部份法定貨幣（例如美金、歐元）兌換成Bitcoin、Ethereum等幣，同時亦可以換返做法幣。例如歐洲虛擬銀行N26喺2022年尾推出「N26 Crypto」，俾用戶直接喺App入面交易近200種加密幣。實際上，N26係同Bitpanda（一間加密幣交易所）合作，由佢負責執行同保管代幣——用戶App內見到體驗好流暢，但背後Bitpanda提供流動性同錢包基礎設施。Revolut咁早喺2017年就開始做加密幣買賣，只係頭先得幾隻幣，之後逐步擴展，實質係做broker俾用戶投資加密幣。

Neobanks typically do not become full-blown crypto exchanges themselves; instead, they integrate via partnerships or in-house teams using third-party APIs. They add a “Crypto” or “Trading” section in their app where users can see their crypto balances alongside their fiat balances, making it easy to manage both in one place. Transactions are usually instant, with fees clearly displayed (e.g., N26 charges around 1.5% for Bitcoin trades). Some neobanks even allow scheduled buys or rounding up card purchases into crypto (similar to saving spare change, but into Bitcoin). Another service some offer is crypto rewards – for instance, offering cashback in Bitcoin instead of points. Neobank ZenGo (which is crypto-focused) provides a debit card that gives cashback in crypto. In the U.S., fintech app Current experimented with giving users yield by partnering with decentralized finance (though that was a pilot).

一般嚟講，虛擬銀行本身唔會做足加密幣交易所角色；通常用外部API或者建立自家團隊，同第三方合作。App內會有「Crypto」或「Trading」版面，用戶可以一齊睇到加密幣資產同法幣資產，一App管理。交易多數即時完成，手續費會清楚展示（例如N26買賣Bitcoin要收一點五個百分比手續費）。有啲虛擬銀行仲支援定期自動買入、甚至每次刷卡「零頭入比特幣」（好似零錢儲落豬仔錢罌咁，不過儲Bitcoin）。仲有啲會俾加密幣獎賞——即現金回贈唔係俾積分，而係俾Bitcoin。以主打加密幣金融服務嘅ZenGo為例，佢有張扣賬卡，回贈畀你係Crypto。美國Fintech App Current仲試過同DeFi合作，畀用戶賺到額外收益（雖然係試驗性質）。

Beyond trading, a few neobanks have

（以下有需要可根據原文繼續補完）explored supporting stablecoins, which are cryptocurrencies pegged to fiat currencies. In 2023, reports emerged that Revolut was considering launching its own stablecoin tied to the value of a fiat currency. While as of this writing Revolut hasn’t released a stablecoin, the fact that a major neobank is exploring it underscores the link-up: a stablecoin issued by a neobank could allow instant global transfers among its users, or integration into crypto payment networks. Some neobanks already let users hold and send stablecoins; for example, Bankera (a smaller European digital bank) offers crypto wallets with stablecoin support.

探索支援穩定幣，這類加密貨幣係同法幣掛鈎嘅。喺2023年，有報道指出Revolut考慮推出自家發行、同法定貨幣價值掛鈎嘅穩定幣。去到目前為止，Revolut仲未真正推出穩定幣，但一間大型虛擬銀行有探索呢件事，已經反映出兩者越來越有聯繫：虛擬銀行發行嘅穩定幣，可以令用戶之間做到即時全球轉賬，亦可以同加密貨幣支付網絡融合。有啲虛擬銀行已經俾用戶持有同發送穩定幣；例如歐洲細規模數碼銀行Bankera，已經有支援穩定幣嘅加密貨幣錢包。

Why Neobanks Are Embracing Crypto:

虛擬銀行點解積極採納加密貨幣：

Several factors are driving neobanks to integrate crypto services:

有幾個主要因素，令虛擬銀行加快整合加密貨幣服務：

Customer Demand and Demographics: The user base of neobanks skews younger and more tech-savvy – the very demographic that is most interested in crypto investing. These customers were likely going to crypto exchanges or apps anyway. By offering crypto directly, neobanks keep those users engaged in their ecosystem and meet their needs. For instance, Bunq, a Dutch neobank, noted strong customer demand for crypto investments, which prompted it to add crypto trading in 2023 via a partnership with Kraken. Essentially, neobanks don’t want to risk users leaving their app to use a crypto platform; offering it in-app provides convenience (and retains users).

客戶需求同用戶組成：虛擬銀行嘅客戶群通常都比較年輕又精通科技——正正係對加密貨幣最有興趣嘅一班人。呢啲客戶本身可能都會去用加密貨幣交易所或者相關App。如果虛擬銀行直接提供相關功能，就可以令到用戶長期留喺自家生態圈內，滿足佢哋需求。例如荷蘭虛擬銀行Bunq，留意到客戶對加密貨幣投資需求強勁，於是喺2023年同Kraken合作加設加密貨幣交易。實際上，虛擬銀行唔想客戶為咗炒幣而流失去其他平台；App內置呢類功能，可以大大提升方便性（同時鎖住啲用戶唔流失）。

New Revenue Streams: Many neobanks are still on the path to profitability and are looking for additional revenue sources. Crypto trading can be lucrative, as exchanges typically earn through trading fees or spreads. By enabling crypto buying/selling, neobanks can earn a fee on each trade. For example, N26 shares revenue with Bitpanda for trades made in its app. In the case of Revolut, crypto trading turned into a significant revenue contributor during boom times – Revolut’s “Wealth” division (which includes crypto trading) saw revenues grow 300% year-on-year, largely driven by crypto activity. In 2024, Revolut’s profits surged, with a substantial boost from crypto exchange use by its customers. This demonstrates that offering crypto helped some neobanks monetize their user base more effectively (especially during crypto bull markets when trading volumes are high).

新收入來源：唔少虛擬銀行仲未實現盈利，都積極搵緊新出路。加密貨幣買賣可以提供利潤來源，因為交易所一般都會收交易費或價差。只要提供買賣渠道，虛擬銀行每單交易就有得分一杯羹。例如N26同Bitpanda分盈利，而Revolut喺加密貨幣市旺時，相關業務部門（包括加密貨幣交易）收入按年曾經急增3倍。去到2024年，Revolut盈利大幅提升，主要都多得客戶用其App炒幣。呢個例子證明，加密貨幣確實幫部份虛擬銀行發揮現有用戶經濟價值（特別喺牛市期間，交易量爆升）。

Differentiation and Competitive Edge: As more fintech apps crowd the market, offering crypto is a way for a neobank to differentiate its product. A few years ago, having crypto functionality was novel and could attract media attention and early adopters. Even today, not all neobanks provide crypto services – so those that do can market themselves as forward-thinking or a “one-stop-shop” for finance. It aligns with the innovative brand image that neobanks cultivate. For example, Wirex is a fintech that started as a crypto-friendly digital account and gained users by targeting crypto enthusiasts who wanted a debit card to spend their crypto.

差異化同競爭優勢：金融科技App愈來愈多，虛擬銀行加入加密貨幣功能都係一種突圍而出嘅方法。幾年前，支援加密貨幣仲算新奇，易吸引傳媒和早期用家。即使到而家，都唔係每間虛擬銀行都做埋加密貨幣服務——做到嘅可以標榜品牌創新或者一站式服務，符合虛擬銀行一貫形象。例如Wirex，就係以主打支援加密貨幣帳戶起家，吸引炒幣人士想攞Debit Card洗幣。

Enhancing User Experience (All-in-One Finance App): From a user’s perspective, it’s inconvenient to manage many separate apps for different financial needs. Neobanks are in a race to become the primary financial app for their customers. Adding crypto means users can see their Bitcoin alongside their bank balance, trade seamlessly, and even cash out crypto gains back to fiat in the same app. This convenience is highly valued. For instance, with N26’s integration, when users sell crypto it goes straight back into their bank account balance – no need to transfer money from an external exchange back to your bank. Such tight integration simplifies crypto investing for newcomers who might be intimidated by standalone crypto exchanges.

提升用戶體驗（一站式理財App）：對用戶嚟講，要用幾個App管理唔同財務需要，其實好煩。虛擬銀行都想做用戶「主力理財App」。加入加密貨幣功能後，用戶就可以同時睇齊自己Bitcoin同儲蓄，隨時炒幣落袋，再即時兌換返去法幣——全部喺同一個App處理。呢種方便用家好受落。例如，N26整合後，用戶賣幣收入會直接入返銀行戶口，唔洗拎錢走外部交易所再入戶。新手都唔怕因太複雜而卻步。

Bridge Between Traditional Money and Digital Assets: Neobanks often position themselves as bridging old and new financial systems. Crypto is an emerging asset class; by integrating it, neobanks strengthen their role as the bridge for users to seamlessly move between fiat and crypto. They handle the complex parts (custody, compliance) via partners, and present a friendly interface to the user. This is especially powerful for enabling things like cross-border remittances using crypto (senders convert fiat to crypto, move it, recipient converts back – all within one app). Some neobanks in developing markets see crypto as a way to offer cheaper international transfers or hedge against local currency inflation using stablecoins.

連接傳統資金同數字資產：虛擬銀行成日標榜自己係傳統同新式金融之間嘅橋樑。加密貨幣係新型資產，開放呢方面功能令虛擬銀行加強自己作為法幣同加密貨幣轉換橋樑嘅定位。畀合作方處理繁複部分（託管、合規），自己就做個簡單前端用戶體驗。咁做特別適合例如用加密貨幣做跨境匯款（發款人用法幣買加密，轉賬，收款人一App內直接轉返法幣）。有啲發展中國家虛擬銀行仲以加密貨幣作為更平嘅國際匯款、或對沖本地通脹用穩定幣。

Future-Proofing and Innovation: From a strategic standpoint, neobanks don’t want to be left behind as financial technology evolves. Crypto and blockchain innovations like decentralized finance could disrupt banking further. By getting involved early, neobanks can learn and adapt. Some are experimenting beyond just trading: a few neobanks have looked at giving crypto custody solutions (safekeeping of digital assets) or enabling customers to earn yield on crypto holdings through partnerships. While regulatory uncertainty still limits some of these offerings, neobanks are preparing for a world where digital assets might become a routine part of finance.

前瞻性部署同創新：從長遠佈局嚟睇，虛擬銀行唔想畀金融科技淘汰。加密貨幣同區塊鏈（例如DeFi）仲有機會進一步顛覆銀行業。早啲參與，趁機學習適應。有啲虛擬銀行更進一步，除咗普通交易，仲有提供加密託管或者合作畀用戶持有加密資產賺收益。雖然有啲受制於監管不明，但已經為一個「數字資產做日常理財」嘅未來做準備。

Examples of Neobank Crypto Offerings:

虛擬銀行加密貨幣例子：

Revolut: One of the first movers, it started offering crypto trading in 2017. Revolut users can buy, hold, and sell dozens of cryptocurrencies. While initially users couldn’t withdraw crypto to external wallets (it was more like trading IOUs), Revolut has since allowed certain crypto withdrawals. In 2023, Revolut even launched its own crypto exchange and was exploring creating a Revolut stablecoin. Crypto trading is cited as a big contributor to Revolut’s recent revenue growth.

Revolut：屬最早進場之一，2017年已提供加密貨幣交易服務。用戶可以買、揸、沽多款加密貨幣。最初未能提取去其他錢包（即係好似只係帳面交易），後來已經開放特定幣種提幣功能。2023年甚至開設自家交易所，同時有探索發行Revolut穩定幣。據指炒幣收入對Revolut近年營收增長影響好大。

N26: Launched N26 Crypto in partnership with Bitpanda in 2022. It started in Austria and rolled out to more European markets, allowing easy trading of ~100 tokens. N26 emphasized the benefit that users don’t need a separate account – it’s all integrated.

N26：2022年同Bitpanda合作推出N26 Crypto。先係奧地利再逐步拓展其他歐洲地區，方便用戶輕鬆交易大約100款代幣。強調唔洗開新戶口——全部一App搞掂。

Bunq: In 2023, Bunq partnered with U.S.-based exchange Kraken to offer crypto investments to its European users. Bunq integrated Kraken’s crypto-as-a-service toolkit so that users could open a crypto account “in seconds” and trade 20+ coins inside the Bunq app. This move came alongside Kraken launching a broader service to enable banks/fintechs to provide crypto to clients.

Bunq：2023年Bunq同美國Kraken交易所合作，為歐洲用戶提供加密貨幣投資。接駁咗Kraken嘅工具包，讓客戶「幾秒」內開加密帳戶，直接App炒幣20款以上。呢個合作都係因為Kraken推出咗專門俾銀行/金融科技公司圍內炒幣服務。

Cash App: While not a bank in the traditional sense (it’s a payment app with banking features), Cash App (by Block, Inc.) has been a major player in bringing Bitcoin to mainstream audiences in the US. It allowed Bitcoin buying/selling since 2018 and even supports Bitcoin Lightning Network payments now. Many consider Cash App’s crypto offering a template that neobanks followed.

Cash App：雖然唔係嚴格意義下嘅銀行（主要係個Payment App、加埋部分銀行功能），但由Block, Inc.搞嘅Cash App一直都係美國推動比特幣普及嘅重要角色。2018年起賣得買得Bitcoin，仲而家支援Lightning Network付款。好多人都覺得Cash App對虛擬銀行做加密貨幣有示範作用。

PayPal: Again, not a neobank per se, but worth mentioning – PayPal (which has a huge digital finance user base) enabled crypto buying/selling in 2020 and in 2023 launched its own U.S. dollar stablecoin (PYUSD). This highlights the trend of major fintech platforms diving into crypto.

PayPal：同樣唔算係虛擬銀行，但值得一提——PayPal本身用戶基數龐大，2020年開放加密貨幣交易，2023年發行自家美元穩定幣（PYUSD）。反映大型金融平台都積極入場炒幣。

Xapo Bank: An interesting case, Xapo was originally a Bitcoin wallet provider that evolved into a fully licensed private neobank. It now offers USD and EUR accounts and also crypto services – even paying interest on deposits in either USD or stablecoins. It’s an example of a crypto-native company entering banking, which is the flip side of banks entering crypto.

Xapo Bank：好有趣，Xapo本身係比特幣錢包供應商，後來做到有牌照私人虛擬銀行。用戶可以開美元/歐元戶口、加密貨幣服務，甚至存美元或穩定幣都收息。呢類就係由加密界出身後轉行做銀行——同傳統銀行走去搞加密貨幣剛剛相反。

Overall, the integration of crypto into neobanking is still unfolding. Not every neobank has embraced crypto (some are cautious due to regulatory issues or skepticism – for instance, UK’s Starling Bank took a strict stance against crypto transactions citing fraud concerns). But a growing number see it as aligned with their digital innovation mission. They are effectively becoming crypto-friendly banks, aiming to be the place a user manages both old money and new money. This trend also reflects broader convergence in fintech: exchanges like Coinbase are adding bank-like features (debit cards, direct deposit), while neobanks add exchange-like features. The endgame could be a unified financial super-app where crypto is just another part of one’s portfolio – and neobanks are positioning to be that app.

總括而言，加密貨幣功能同虛擬銀行融合仲係進行中。唔係每間虛擬銀行都肯做，有啲基於監管風險或對炒幣有疑慮（例如英國Starling Bank敏感於詐騙風險，堅持禁炒幣）。但越嚟越多虛擬銀行將呢啲新業務納入創新使命，特意做好「虛擬銀行等於鬆手歡迎加密貨幣」形象，目標就係客戶可以同時管理新舊錢。呢股潮流都反映行業趨於融合——例如Coinbase等交易所加晒銀行功能（Debit Card、直接過數），而虛擬銀行又加咗交易所啲機能。最終可能會形成一個金融超級App，加密貨幣只係組合其中一件——虛擬銀行正爭住做呢個App！

7. Neobank–Crypto Partnerships – Notable Examples

7. 虛擬銀行與加密公司合作——重點例子

As neobanks venture into crypto, many have formed partnerships with established crypto companies to leverage each other’s strengths. These collaborations allow neobanks to offer crypto services without having to build secure trading platforms from scratch, and they give crypto firms access to large user bases of fintech apps. Here are some notable partnerships between neobanks (or fintech banks) and crypto platforms:

隨住虛擬銀行進軍加密貨幣領域，好多都選擇同現有加密公司合作，互補短長。呢啲合作可以令虛擬銀行唔洗由零開始起安全交易平台，就可以即時提供加密貨幣服務，而加密公司又可以接觸到虛擬銀行龐大用戶基礎。以下係部份值得留意嘅合作例子：

N26 and Bitpanda: One high-profile partnership is between German-origin neobank N26 and Austrian crypto exchange Bitpanda. Announced in 2022, this partnership powers N26’s in-app crypto trading feature. Bitpanda’s infrastructure handles trade execution and custody of assets, while N26 provides the interface and banking integration. This has enabled N26 to offer nearly 200 cryptocurrencies to its 8 million+ users without directly dealing with the complexities of crypto custody. It’s a symbiotic arrangement: N26 can expand its product offering (and earn commission on trades), and Bitpanda gains a large funnel of retail users trading crypto through a familiar bank app. This model has been successful enough that other fintech apps (like French app Lydia) also partnered with Bitpanda for offering crypto and stocks within their platforms.

N26同Bitpanda：最受關注之一係德國N26同奧地利加密交易所Bitpanda合作。2022年宣佈合作，令N26可以App內推加密貨幣交易。Bitpanda提供後台基礎設施（負責落盤、託管資產），N26則做介面及銀行功能對接。咁一來，N26就可以俾800萬+用戶買賣成200隻加密貨幣，但自己又唔洗搞託管啲複雜嘢。屬於雙贏——N26產品線可擴展（啲交易有佣收），Bitpanda就賺到大批慣用銀行App嘅零售客。呢個模式夠成功，好多其他金融App（如法國Lydia）都同Bitpanda合作埋一齊提供買賣幣同炒股票服務。

Bunq and Kraken: In April 2025, Netherlands-based neobank Bunq revealed it teamed up with Kraken, one of the world’s largest crypto exchanges, to launch Bunq’s crypto service. Through this partnership, Bunq users in select European countries can create a crypto account almost instantly and trade 20+ major cryptocurrencies in-app. Kraken provided a Crypto-as-a-Service solution (called “Kraken Embed”) that Bunq integrated. This allowed Bunq to go live with crypto trading quickly, riding on Kraken’s secure trading engine and compliance framework. The partnership was mutually beneficial: Bunq met user

Bunq同Kraken：到2025年4月，荷蘭虛擬銀行Bunq宣佈會同全球最大加密交易所之一Kraken合作，推出Bunq專屬加密貨幣服務。通過呢次合作，部分歐洲用戶可以即時開加密帳戶，喺App內炒超過20款主流加密貨幣。Kraken提供Crypto-as-a-Service方案（叫「Kraken Embed」），Bunq負責整合，令Bunq好快就可以靠Kraken安全交易引擎同合規做出加密貨幣交易業務。合作係雙贏：Bunq可以即時滿足用戶...demand for crypto investments, and Kraken showcased its plug-and-play solution for fintechs with Bunq as a flagship example. It’s worth noting Bunq’s positioning – they framed it as having “everything you need to save, spend and invest – including crypto – on one platform”. This indicates how central crypto has become in marketing a complete financial hub.

對加密資產投資嘅需求持續上升，Kraken 就用 Bunq 作為旗艦例子，展示其一站式解決方案畀金融科技公司使用。值得留意嘅係 Bunq 嘅定位——佢哋標榜一個平台就有齊你儲錢、消費、同投資（包括加密貨幣）所需一切。呢點反映出加密貨幣已經成為宣傳完整金融樞紐時不可或缺嘅一環。

Revolut and Paxos: Revolut initially did most of its crypto offering in-house, but there were reports that in the U.S. market Revolut partnered with Paxos (a regulated crypto brokerage API provider) to offer crypto trading in compliance with U.S. regulations. Paxos provides the underlying liquidity and custody, while Revolut handles the UX. This wasn’t heavily marketed, as Revolut positions the feature as native, but partnerships like these are common behind the scenes. Similarly, other U.S. fintechs like Wealthfront and Interactive Brokers partnered with Paxos to offer crypto.

Revolut 同 Paxos：Revolut 一開始係自家處理大部份嘅加密貨幣功能，但據報導，喺美國市場，Revolut 同受規管嘅加密經紀API供應商 Paxos 合作，確保提供嘅加密交易符合美國法規。提供流動性同資產託管嘅係 Paxos，而歸 Revolut 負責用戶體驗。由於 Revolut 將呢項功能標榜為原生功能，所以佢哋冇特別大力宣傳，但其實類似嘅幕後合作十分普遍。美國其他金融科技公司，包括 Wealthfront 同 Interactive Brokers，都有同 Paxos 合作推加密貨幣服務。

Chime and Crypto Exchanges: Chime (the U.S.’s largest neobank) hasn’t directly launched crypto trading, but it did allow connectivity with external crypto apps. For instance, Chime users can link their accounts to Coinbase or Gemini to fund crypto purchases. In some sense, the partnership is indirect – via open banking APIs that let crypto exchanges verify Chime accounts for ACH transfers. While not an official co-branded integration, it shows neobank and crypto platforms interlinking for user convenience.

Chime 同加密貨幣交易所：Chime（全美最大嘅新型銀行）暫時未推出直接買賣加密貨幣嘅功能，但就容許用戶連接其他加密貨幣應用程式。例如，Chime 用戶可以連接自己戶口去 Coinbase 或 Gemini，咁樣就可以入錢買加密貨幣。嚴格嚟講，呢種合作比較間接，係透過開放銀行API，等加密貨幣交易所可以驗證 Chime 帳戶進行 ACH 轉賬。雖然未算官方品牌聯名，但反映出新型銀行同加密平台會互相配合，提升用戶體驗。

Visa and Crypto Rewards Fintechs: Several neobanks or fintech card programs have partnered with crypto platforms through Visa’s network. For example, Crypto.com and Coinbase launched their own Visa debit cards (letting users spend crypto via a card), which isn’t exactly a neobank partnership, but blurs lines between a crypto company and banking services. There are also fintech credit cards that give rewards in Bitcoin (e.g., BlockFi’s card, or Gemini’s card), effectively acting like neobank offerings with crypto tie-ins, done in partnership with card issuers and crypto brokers.

Visa 同加密獎賞金融科技：不少新型銀行或金融科技信用卡計劃，都經 Visa 網絡同加密平台合作。例如，Crypto.com 同 Coinbase 推出咗自己品牌嘅 Visa 借記卡，用戶可以直接用加密貨幣消費，雖然唔算嚴格意義上嘅新型銀行合作，但已經打破咗加密公司同傳統銀行服務之間嘅界線。另外，市面亦有提供比特幣回贈嘅金融科技信用卡（例如 BlockFi 或 Gemini 嘅信用卡），同時同信用卡發卡機構同加密券商合作，打造帶有加密元素嘅新型銀行體驗。

Traditional Banks’ Digital Arms and Crypto: We also see partnerships in cases where an incumbent bank’s digital-only spin-off integrates crypto. For example, Marcus (Goldman Sachs), while not offering crypto to retail, partnered with Coinbase to manage some of its operations and considered crypto offerings through its consumer app. In the Asia-Pacific context, Revolut partnered with Apollo in Singapore for crypto services compliance. And in Australia, neobank Volt (before its closure) had explored partnerships with crypto exchanges to allow funds flow between accounts easily.

傳統銀行數碼品牌與加密：亦有例子係傳統銀行旗下純網上分支同加密平台合作。例如高盛（Goldman Sachs）嘅 Marcus 雖然未有為散戶推出加密服務，但曾經同 Coinbase 合作做部分業務運作，亦有考慮過喺其消費者App 中引入加密功能。亞太區方面，Revolut 曾喺新加坡同 Apollo 合作，確保合規推加密服務；而澳洲已停運嘅 Volt 亦曾探索同加密貨幣交易所合作，方便客戶資金流轉。

These partnerships generally follow a pattern: the neobank provides the customer base and user interface, while the crypto firm provides the trading engine, liquidity, and regulatory compliance for crypto transactions. This division of labor makes sense – each side sticks to its core competency. It’s similar to how many neobanks partner with banks for fiat services; here they partner with crypto specialists for digital assets.

呢類合作大致上都有個套路：新型銀行負責提供客戶基礎同用戶介面，而加密公司則提供交易技術、流動性同合規方案。大家各司其職，發揮專長。正如好多新型銀行會同傳統銀行合作處理法定貨幣服務，處理由加密專家夥伴搞掂數碼資產就更合適。

From the user’s perspective, these tie-ups mean they can activate crypto features with a few clicks, often agreeing to some terms from the partner (e.g., Bitpanda’s terms) but without ever leaving the neobank’s app. The integration is deep enough that it feels like one service. For instance, in N26, your crypto portfolio is displayed right in the banking app interface, and you fund trades directly from your N26 account balance. In Bunq’s case, they even prepared educational materials within the app to guide new crypto investors, showing a joint effort with Kraken to make the experience smooth and informed.

對用戶而言，呢類合作即代表佢哋可以一兩個掣就開通加密功能，通常只需認同合作夥伴（例如 Bitpanda）嘅服務條款，但無需離開新型銀行 App。整合程度之高，可視為一站式服務。例如 N26 會直接喺App 顯示你嘅加密投資組合，資金亦可由 N26 帳戶即時提取進行交易。Bunq 更特登喺 App 內加入教育材料，配合 Kraken 一齊推動用戶投資加密時更順暢更有知識保障。

It’s also notable that some partnerships extend to crypto rewards and payments. For example, fintech app Fold (a Bitcoin rewards debit card) partnered with a small bank to issue the card and with Visa’s Fast Track program, showcasing a multi-way partnership: fintech + bank + crypto. While Fold isn’t a full neobank, it behaves like one with checking and Bitcoin cashback.

留意有部分合作更伸延至加密獎賞同支付功能。好似金融科技 App Fold（比特幣回贈借記卡）就同細銀行合作發卡，亦加入咗 Visa Fast Track 計劃，形成多方夥伴配合：金融科技 + 銀行 + 加密貨幣。雖然 Fold 唔算新型銀行，但有查數同比特幣回贈功能，用法幾乎一樣。

Lastly, partnerships are crucial for compliance. By working with regulated crypto entities (like Kraken in Europe, or Paxos in the US), neobanks ensure that the crypto services are compliant with anti-money laundering laws and other regulations. This shields the neobank from some risk, since the partner handles KYC/AML for crypto transactions and the custody of assets in a compliant way.

最後，與受監管加密機構合作對合規好重要。經同 Kraken（歐洲）或 Paxos（美國）等受監管加密公司合作，新型銀行確保加密服務符合法洗及相關法規。咁樣新型銀行可以分擔風險，因加密交易及資產託管嘅 KYC/AML 程序都交由夥伴合規處理。

We can expect more such alliances. As crypto regulation matures, more banks (neo or traditional) will feel comfortable offering crypto via partnership. Likewise, crypto companies are eager to tap into mainstream distribution – being inside a popular banking app is a great way to reach new users who might not sign up on a standalone crypto exchange. The lines between banking and crypto services are increasingly intersecting through these collaborations.

相信以後呢類合作會越來越多。隨住加密監管更成熟，無論新型定傳統銀行都會更願意以合作方式推出加密服務。同時加密公司亦想打入主流分銷渠道——成功進入大眾銀行 App，即可接觸到未必會開加密賬戶但又肯試新野嘅客群。金融服務同加密生態圈嘅界線，經呢啲合作會越嚟越模糊。

8. Top 10 Neobanks in the World (2025)

The neobanking sector has exploded globally, with dozens of players rising to prominence. Below are ten of the world’s leading neobanks (and digital-only banking platforms), selected based on their user base size, valuation, global reach, service breadth, and innovation. These are not ranked purely by one metric but collectively represent the cream of the crop in the neobank landscape as of 2025:

全球新型銀行行業高速發展，出咗好幾十間出色嘅品牌。以下係根據用戶基礎、估值、全球擴展、產品多元同創新等綜合指標，精選出全球十大新型銀行（包括純數碼銀行平台），代表 2025 年全球最頂尖行列。排名無分先後，重點係行業翹楚。

1. PayPal – The Global Digital Finance Giant: While some debate whether PayPal is a “neobank,” it operates as a digital-first financial platform offering payment services, bank-like wallets, and even savings and crypto trading. With 392 million active customers globally, PayPal is by far one of the largest online financial services providers. It has an $80 billion market cap and has ventured into crypto (enabling Bitcoin/ETH trading and launching its own PYUSD stablecoin). PayPal’s sheer scale and global reach (200+ markets) make it a cornerstone of digital banking for many, bridging traditional payments and modern fintech.

2. PayPal – 全球數碼金融巨頭：雖然有啲人會質疑 PayPal 算唔算「新型銀行」，但事實上佢運作模式同新型銀行極為相近——主打數碼化金融平台，提供支付服務、銀行級電子錢包、以至儲蓄及加密資產買賣。全球有超過3.92億活躍客戶，係全世界最大網上金融服務供應商之一。市值約800億美金，更已踏足加密金融（開放比特幣/以太坊交易及發行自家穩定幣 PYUSD）。超大規模及超過200個市場覆蓋，令 PayPal 成為全球數碼銀行領域嘅基石，連繫住傳統銀行與現代金融科技。

3. Nubank – LatAm’s Purple Superstar: Brazil’s Nubank has emerged as the world’s most valuable neobank, with a valuation around $45–$50+ billion and over 100 million customers across Brazil, Mexico, and Colombia. Renowned for its purple credit card and app, Nubank revolutionized banking in Brazil by eliminating annual fees and providing a slick mobile experience in a market previously dominated by fee-heavy banks. It has expanded into lending, investments, and insurance. Notably, Nubank embraced crypto in 2022, allowing its Brazilian users to buy Bitcoin and Ethereum in-app, reflecting its innovative edge. With backing from investors like Berkshire Hathaway, Nubank is not only huge in user count but also a bellwether for fintech success in emerging markets.

4. Nubank – 拉丁美洲紫色新星：巴西 Nubank 已成為全球估值最高嘅新型銀行，市值約450至500億美金，客戶超過1億，遍布巴西、墨西哥、哥倫比亞。以紫色信用卡及 app 著名，Nubank 改寫咗巴西銀行格局——無年費、靚仔易用手機體驗，打破傳統高收費舊式銀行壟斷。產品線已拓展至借貸、投資、保險。2022年開始，Nubank 開放巴西用戶直接App 買比特幣及以太幣，積極擁抱創新科技。身後有巴菲特等重量級投資者，成績唔淨止靠用戶量，更係新興市場 fintech 成功標竿。

5. Revolut – The Global Fintech Super-App: Born in the UK and now serving customers across Europe, North America, and Asia-Pacific, Revolut boasts around 50 million+ users worldwide (crossing 52 million by 2024). It started with travel money and low-cost currency exchange, but today Revolut offers everything from bank accounts, stock and crypto trading, to insurance and business accounts – truly aiming to be a “super-app.” Valued at $33 billion in its last funding round, Revolut is known for rapid innovation: it was one of the first neobanks to integrate crypto trading (now offering dozens of coins), and it continually adds new features (like budgeting tools, donation features, etc.). Revolut’s global ambitions and ability to localize (it obtained bank licenses in Europe, and is pursuing one in the UK and potentially the US) put it at the forefront of the neobank revolution. It’s often cited as the closest to a global neobank, though it faces the challenge of navigating many regulatory regimes.

6. Revolut – 全球金融科技超級App：Revolut 源自英國，現已服務歐洲、北美、亞太區用戶，全球用戶五千多萬（2024 年突破5,200萬大關）。一開始主打旅遊換匯同外幣低費用交易，如今產品線已涵蓋銀行帳戶、股票加加密貨幣投資、保險、商業業務，志在成為「超級App」。最近一輪融資估值高達 330 億美元。最早一批整合加密買賣功能嘅新型銀行之一，主打創新，現已支援數十款加密貨幣投資，並陸續加新功能（預算管理、捐款等）。具備全球化雄心，亦懂作本地化調整，持有歐洲銀行牌，並積極申請英美等地牌照。係最接近全球性新型銀行之一，不過要應付各地不同監管挑戰。

7. Chime – US Challenger Champion: Chime is the leading neobank in the United States, with an estimated 20+ million customers (reports indicate 22 million in 2023). Focused on simplifying banking for everyday Americans, Chime offers no-fee checking accounts, early access to paychecks, and a savings account, all through an easy app. Its viral growth and heavy marketing have made it a top fintech brand in the US, especially appealing to those fed up with monthly fees at big banks. Chime has yet to delve deeply into crypto services, likely due to a cautious regulatory environment in the US, but it has solidified its position with features like credit builder cards and a large free ATM network via partnerships. With a valuation that was around $25 billion in 2021 (though the market has fluctuated since), Chime is a standout for proving a neobank can scale in the crucial U.S. market.

8. Chime – 美國市場挑戰者冠軍：Chime 係美國最大新型銀行，估計用戶逾2千萬（2023年更達2,200萬）。主攻簡化普羅大眾銀行體驗，零月費帳戶、提前收人工、連儲蓄戶口都全App 處理。高速增長同性格化宣傳，令 Chime 成為美國頂級金融科技潮牌，特別吸引慣咗俾銀行收昂貴月費嘅美國人。Chime 尚未大力推出加密服務（可能考慮到美國監管較嚴），但已靠信用增建卡、大型ATM網絡（經合作夥伴助力）鞏固地位。2021 年估值高達250億美元（雖然市況有時波動），證明新型銀行喺美國一樣可以做大做強。

9. Cash App (Square) – Payments App Turned Neobank: Cash App, developed by Jack Dorsey’s Block, Inc. (formerly Square), started as a simple peer-to-peer payment app but has evolved to offer many banking-like services. It has about 50–57 million monthly active users as of 2024 – making it hugely popular in the US. Cash App provides users with a debit card, the ability to deposit paychecks, buy stocks, and crucially, buy and sell Bitcoin (Cash App was an early adopter of Bitcoin integration). While not a bank by charter, Cash App functions as a de facto neobank for many young Americans who use it as their primary account. Its integration of Bitcoin and even the Lightning Network for payments aligns well with crypto enthusiasts. Cash App’s success underscores how a fintech app can blur the line with banking, and its parent company Block’s focus on crypto innovation keeps it at the cutting edge.

10. Cash App（Square）– 由支付App進化成新型銀行：由 Jack Dorsey（前 Twitter CEO）名下的 Block, Inc.（前稱 Square）開發，最初只係簡單P2P支付程式，但而家已經變成多功能銀行App。2024年每月活躍用戶已達5千至5千7百萬，深受美國年輕用戶歡迎。Cash App 提供借記卡、人工存款、股票投資，仲係最早整合比特幣買賣功能嘅App之一（早過不少銀行）。雖然無正式銀行牌照，但好多人都當佢係主力銀行賬戶用。連比特幣付款閃電網絡都整埋，正合加密圈用家需要。Cash App 之成功，證明金融科技App 可以打破同銀行界線，而母公司 Block 對加密創新重視，永遠走喺潮流尖端。

11. SoFi – From Student Loans to Financial One-Stop: SoFi (Social Finance) is a U.S.-based fintech that began with refinancing student loans and expanded into a broad suite of financial services. Now a public company, SoFi has about 10–11 million members and offers banking (SoFi Bank – it obtained a national bank charter in 2022), investing in stocks and crypto, personal and home loans, credit card, and more, all through its app. SoFi’s

12. SoFi – 學生貸款起家，成為綜合金融一站通：SoFi（Social Finance，美國公司）最初主打學生貸款再融資，後來發展成完整金融服務平台。現已上市，會員逾千萬，涵蓋銀行（SoFi Bank，2022年獲頒美國全國銀行牌）、股票和加密資產投資、個人及房貸、信用卡等全部服務，全數可喺App一站式搞掂。SoFi...value lies in its ecosystem approach – users are drawn in by one product (say, a loan) and cross-sold into using SoFi Money (checking accounts) or SoFi Invest, etc. SoFi has embraced crypto by offering trading of major cryptocurrencies within SoFi Invest, making it one of the first U.S. fintechs to do so in a regulatory compliant way. With a market cap around $6–8 billion in 2025 and continuing growth in its banking division, SoFi is often highlighted as a successful “fintech to bank” story and a major neobank player in North America.

其價值在於生態圈策略——用戶可能因為其中一款產品（例如貸款）被吸引，之後再被交叉銷售至 SoFi Money（支票帳戶）、SoFi Invest 等等。SoFi 積極擁抱加密貨幣，在 SoFi Invest 內引入主流加密貨幣交易，成為美國首批合規推行加密幣交易的金融科技公司之一。到了 2025 年，SoFi 的市值約 60 至 80 億美元，銀行業務亦持續增長，經常被認為是一個“從 fintech 轉型為銀行”的成功案例，也是北美區主要的新型網上銀行代表。

7. N26 – Pioneering European Neobank: Germany’s N26 was one of Europe’s first app-based banks, and has about 8 million customers across the EU (as of mid-decade). It’s known for its minimalist, user-friendly app and early expansion across Europe using a German banking license “passported” to other EU countries. N26 offered features like instant push notifications and Spaces (sub-accounts for savings goals) that set the standard early on. Although N26 had some setbacks (like withdrawing from the UK and US markets), it remains a dominant player in continental Europe. Valued at around $9+ billion in its last funding, N26 has continued to innovate – it introduced N26 Crypto in partnership with Bitpanda to allow crypto trading, and it’s exploring stock trading as well. N26 is often mentioned alongside Revolut as a European challenger success, though with a more European focus (fewer global ambitions than Revolut).

8. N26 – 歐洲開創性新型網上銀行：德國的 N26 是歐洲首批應用程式銀行之一，截至十年中期在歐盟有約 800 萬個用戶。N26 以其極簡舊且易用的手機 app 聞名，並且早期便運用德國銀行牌照「護照權」（passporting）迅速擴展到其他歐盟國家。N26 引入即時推送通知、Spaces（儲蓄目標子帳戶）等功能，早早成為業界標準。雖然 N26 也曾遇上挫折（如退出英國和美國市場），但在歐洲大陸仍然屬主導地位。上輪估值超過 90 億美元，N26 持續創新——聯同 Bitpanda 推出 N26 Crypto 讓用戶交易加密貨幣，也在探索股票交易。N26 經常與 Revolut 一同被提及，不過其重心更偏向歐洲區（不像 Revolut 那麼強調全球化）。

9. Monzo – UK’s Beloved Banking App: Monzo, famous for its coral pink debit card, is one of the UK’s leading neobanks with around 9-10 million customers by 2024. Monzo built a strong community through its beta launch and became a cultural phenomenon for a while among UK millennials. It offers personal and business accounts, lending, and has marketplace integrations for things like energy switching. Monzo hasn’t aggressively expanded internationally (a small US pilot aside), but in the UK it’s been a trailblazer for features like instant spending notifications, fee-free travel spending, and easy bill splitting. While Monzo has not focused on crypto trading services (as UK regulations and perhaps the bank’s own priorities have kept it more traditional in product scope), it has indirectly allowed connectivity with crypto apps and has been observing the space. Monzo’s recent moves into profitability (it turned a profit in 2023) and growing deposits show neobanks can mature into sustainable businesses. It’s valued around $4.5 billion (2022) and considered among the top tier of neobanks globally for its innovation and loyal user base.

10. Monzo – 英國人氣新型銀行 app：Monzo 以珊瑚粉紅色提款卡聞名，是英國領先的數碼銀行，到 2024 年客戶人數約為 900 至 1,000 萬。Monzo 透過 beta 版召集強大社群，一度成為英國千禧世代之間的文化現象。產品覆蓋個人及商業戶口、貸款，並與第三方平台整合（如能源轉換服務等）。Monzo 並無大舉拓展國際市場（美國只有簡短試點），但於英國屢創先河，推出即時消費通知、免手續費外遊消費、輕鬆分帳等功能。雖然 Monzo 沒有主力發展加密貨幣交易（受英國當地監管及本身產品策略所限，較傾向傳統），但已間接與加密幣 app 接軌，並持續留意這領域的發展。Monzo 最近實現盈利（2023 年起錄得利潤），存款穩步上升，證明新型數碼銀行可以逐步成為可持續經營的生意。2022 年估值約 45 億美元，全球創新與用戶忠誠度均排頂尖。

11. WeBank – China’s Mega Digital Bank: WeBank, launched in 2014, is China’s first online-only bank and is backed by tech giant Tencent. It operates primarily through the WeChat super-app. With a staggering 200+ million customers (some sources even claim over 300 million), WeBank is possibly the world’s largest digital bank by user numbers. It provides consumer and SME loans, payments, and deposit services all through digital channels. WeBank achieved scale by tapping into Tencent’s ecosystem (WeChat and QQ) for user acquisition. It’s highly profitable and has inspired similar models elsewhere in Asia. While WeBank does not engage in cryptocurrency (China bans retail crypto trading and ICOs), it has been innovative in blockchain on the enterprise side and in fintech infrastructure. WeBank’s inclusion in a global top list is important to note the scale achievable in populous markets through digital banking. It might not be well-known in the West due to its exclusively China focus and the fact that it doesn’t market itself internationally, but sheer size and success make it a top neobank globally.

12. 微眾銀行 – 中國超級數碼銀行：微眾銀行於 2014 年成立，是中國首間純線上銀行，由騰訊作大股東。微眾主要依靠微信這個超級 app 營運，客戶人數高達 2 億以上（有些說超過 3 億），極有可能是全球用戶最多的數碼銀行。業務涵蓋個人及中小企貸款、支付、存款，全數碼渠道處理。微眾能夠迅速擴張，全靠利用騰訊生態系統（微信、QQ）吸引用戶。微眾銀行盈利能力強，並啟發了亞洲區內類似發展模式。儘管中國嚴禁散戶加密幣交易及 ICO，微眾無涉足加密貨幣，但在企業區塊鏈和金融基建領域甚有創新。微眾銀行能夠入選全球頂尖數碼銀行，反映人口密集市場透過全數碼銀行能達到的效益規模。微眾國際知名度不高，主因業務專注中國本地，亦不積極海外宣傳，但以規模和成績而言，絕對是全球首屈一指的新型銀行。

13. Starling Bank – The Profitable Innovator: Starling is another UK-based neobank, smaller in customer count (3+ million customers, including many small businesses) but highly regarded in fintech circles. Founded by Anne Boden, Starling took a slightly different path by focusing not just on retail accounts but also heavily on business banking and offering Banking-as-a-Service to other fintechs. Starling became one of the first neobanks to reach sustained profitability (from 2021 onwards), proving the viability of the model. It offers a full checking account with lots of features, and has marketplace integrations with third-party financial products. Starling hasn’t integrated crypto trading into its app (in fact, it was cautious, temporarily blocking crypto exchange deposits citing risk concerns in the past). However, its strong fundamentals and innovative approach to banking (like providing payments infrastructure to fintech partners) earn it a spot among the top neobanks. Starling’s success, especially in SME banking (where it has a significant UK market share in new business accounts), demonstrates that neobanks can compete in multiple segments. With a valuation around $3 billion (as of 2022) and growing, it might not be the largest, but it’s influential and often referenced as a model for building a sustainable digital bank.

14. Starling Bank – 盈利型創新者：Starling 亦屬英國新型數碼銀行，客戶數雖較少（超過 300 萬，包括大量中小企），但在金融科技界享有極高聲譽。由 Anne Boden 創辦，Starling 走與眾不同的路線，不僅專注零售戶口，更主攻商業銀行業務及向其他科企提供 Banking-as-a-Service。自 2021 年起，Starling 成為首批可持續盈利的新型銀行，證明其模式可行。它提供功能齊全的支票戶口，設有多款特色功能，並連接第三方金融產品開放市場。Starling 並未支援加密貨幣交易（過去更因風險考量一度暫停客戶存入加密幣交易所），但其穩健根基和創新銀行策略（例如向金融科技業夥伴提供支付基建）令其穩佔新型銀行頭十位。Starling 在 SME 銀行業務成績尤其突出（新成立業務戶口市佔率高），證明新型銀行可在多區塊競爭。估值至 2022 年約 30 億美元並持續上升，規模未必最大，但非常有影響力，常被視為可持續數碼銀行的優秀範例。

(Honorable Mentions:) There are many other notable neobanks close on the heels of these ten. Wise (formerly TransferWise) isn’t a bank but offers multi-currency accounts to 16+ million users, playing a big role in cross-border finance. KakaoBank in South Korea has over 18 million users and a strong IPO debut in 2021, making it a major Asian neobank. Varo Bank in the U.S. made history as the first fintech to get a full national bank charter. And in other regions, players like Grab’s GXS Bank (Southeast Asia), TymeBank (South Africa), Yono/SBI Yono (India, via SBI), and Banco Inter (Brazil) are shaping digital banking. The top 10 list above, however, covers the most globally impactful names to date, spanning the Americas, Europe, and Asia.

（其他值得一提的）：除上述十大之外，還有不少新型銀行表現突出。Wise（前稱 TransferWise）雖然不是銀行，但為 1,600 萬名用戶提供多貨幣帳戶，跨境支付影響重大；韓國 KakaoBank 用戶逾 1,800 萬且 2021 年上市表現強勁，成為亞洲重要新型銀行；美國 Varo Bank 是首間獲完整全國性銀行執照的金融科技公司。其他地區，例如東南亞 Grab 的 GXS Bank、南非 TymeBank、印度 Yono/SBI Yono（由印度國家銀行主導）、巴西 Banco Inter 等，也在推動當地數碼銀行發展。不過上述十間，仍屬至今最具全球影響力的一批，涵蓋美洲、歐洲及亞洲。

9. Regulatory Considerations and Regional Differences (EU vs US vs APAC)

Neobanks operate under the shadow of banking regulations, which vary significantly by region. Regulatory frameworks determine how neobanks can launch, whether they can call themselves “banks,” how they handle crypto, and how they expand. Here’s a breakdown of the landscape in Europe, the United States, and the Asia-Pacific (APAC), highlighting key differences and considerations:

9. 監管考量及地區差異（歐盟 vs 美國 vs 亞太）

新型數碼銀行運作時均受當地銀行監管架構約束，而這些監管模式因地區差異極大。監管規範決定了 neobank 如何成立、能否自稱為「銀行」、如何處理加密貨幣及業務擴展方式。以下詳細說明歐洲、美國、亞太區的情況，突顯一些主要分別及注意事項：

Europe (EU/UK): Europe has generally been a fertile ground for neobanks, thanks to conducive regulations and initiatives to boost competition. In the EU, regulations like the PSD2 (Revised Payment Services Directive) mandated open banking and allowed licensed fintechs to access banking data with user consent. This encouraged new entrants and collaborations. Many European neobanks started with an “e-money institution” license – which is easier to get than a full bank license – allowing them to handle payments and electronic money, but not to call themselves a “bank” or hold deposits on their own balance sheet. Examples include Revolut and Monese using e-money licenses in their early stages. However, the EU also provided pathways for full bank authorization; for instance, N26 obtained a full banking license from German regulators relatively early (2016), and others followed in various countries. An EU banking license can be passported across member states, enabling an entity like N26 or Revolut to serve many countries once authorized in one, albeit with coordination with each national regulator.

歐洲（歐盟／英國）：歐洲相對更有利於新型銀行發展，監管環境友善，又積極推動市場競爭。例如歐盟 PSD2（最新支付服務指令）要求銀行開放數據授權，讓持牌金融科技公司在用戶同意下可接入銀行數據，促進新競爭者加入和跨界合作。大部分歐洲新型銀行最初都是以“電子貨幣機構”牌照起家，較全銀行牌照容易獲批，能處理支付和儲值但不可以自稱“銀行”或以自身名義持有存款（如 Revolut、Monese 早期都是如此）。當然，歐盟也容許業者申請完整銀行牌照，例如 N26 2016 年已在德國取得銀行牌照，其他國家亦陸續有新例子。歐盟銀行牌照具「護照權」，意即一間在某成員國取得批核的銀行，協調國家監管機關後，可於多國經營，例如 N26 或 Revolut 可因此同時服務多個市場。

The United Kingdom, while now outside the EU, also championed challenger banks post-2010. UK regulators created a more accessible regime for new bank licenses, leading to the launch of Monzo, Starling, Atom, etc. The UK allowed a “mobilization” phase where a new bank could get an authorization with restrictions, launch in a limited way, then get fully authorized. The result was a vibrant challenger bank scene. The UK has also been updating its regulations around fintech and crypto – for instance, as of 2023-2024, the FCA has been tightening rules on crypto promotions, which could affect how integrated crypto services are marketed by fintechs.

英國方面，雖然已脫歐，但自 2010 年後一直積極推動新興挑戰者銀行。當局簡化新銀行牌照審批程序，促成 Monzo、Starling、Atom 等新銀行誕生。英國另設有「動員階段」，新銀行可先獲有限授權及投入市場運作，累積經驗再申請全面授權，鼓勵市場多元化。近年英國亦頻繁檢討科技金融和加密貨幣監管——如 2023-2024 年 FCA 已收緊對加密資產宣傳推廣規範，可能影響金融科技公司將加密業務整合入主流銀行業時的營銷策略。

A key consideration in Europe is use of the term “bank.” Regulators insisted that only licensed banks use that term to avoid customer confusion. This is why Revolut, which lacked a UK banking license for years, marketed itself carefully and obtained a Lithuanian banking license to call itself a bank in the EU. Similarly in the U.S., we saw Chime’s disclaimer “Chime is not a bank” enforced – a similar logic is applied in Europe. Neobanks have had to make sure their customers know who is providing the underlying protections. European deposit insurance schemes (like the EU-wide €100k guarantee per bank, or the UK’s FSCS £85k guarantee) apply to licensed banks. So if a neobank isn’t a bank, it must clarify that user funds are safeguarded via a partner bank which has the insurance.

在歐洲，「bank」的稱呼有嚴格規管。監管機構要求只有持牌銀行才可稱「銀行」，避免誤導用戶。例如 Revolut 長年無英國銀行牌，需小心推廣，並在歐盟區域透過立陶宛銀行牌照自稱銀行。美國 Chime 也因沒有持有銀行牌，要公開聲明 “Chime is not a bank”，歐洲同有類似做法。此舉亦令新型銀行需向客戶清楚交代存款由哪間有保險的銀行保障。歐洲的存款保障計劃（如每間銀行存 €100,000，英國則 FSCS £85,000 上限）只適用於持牌銀行，所以若非銀行則要聲明所有用戶資金由合作銀行負責保護。

Regarding crypto in Europe, regulation is moving toward clarity with the new MiCA (Markets in Crypto-Assets Regulation), expected to be in force by 2024/25. MiCA will create an EU-wide licensing regime for cryptoasset services. This could actually make it easier for neobanks to integrate crypto, as they’ll have clear rules to follow or partners who are MiCA-compliant. Already, European neobanks have been active (as seen with Bitpanda partnerships, etc.), but they had to navigate each country’s interpretation of EU directives. The EU is relatively open to innovation, as long as consumer protection is in place.

歐洲方面，針對加密資產的監管正逐漸明朗化，2024/25 將實施最新 MiCA（加密資產市場條例），為全歐盟統一建立加密服務牌照制度。有了透明規則，將有利於 neobank 整合加密貨幣服務，因無論本地還是合作夥伴，只需符合 MiCA 標準便可。歐洲新型銀行其實一直很活躍於加密領域（例如與 Bitpanda 合作），只是過去要理清不同成員國對 EU 指令的解讀。只要保障消費者前提下，歐盟對創新態度仍然開放。

Regionally within Europe, differences exist: Germany’s BaFin is quite strict (N26 faced some regulatory constraints to slow growth until compliance caught up), France required some local specifics for banks, Lithuania became a fintech licensing hub, etc. But overall, the EU provides a passportable regulatory environment conducive to cross-border digital banks. The EU’s Second Electronic Money Directive also helped in establishing fintechs that aren’t fully banks.

歐洲區內監管細節有異：德國 BaFin 監管嚴格（N26 一度被要求放慢增長確保合規）；法國對銀行有本地特色要求、立陶宛則成為金融科技牌照樞紐等等。不過整體而言，歐盟 cross border 監管體系靈活，例如銀行牌照護照權十分有利，加上第二代電子貨幣指令亦推動了非全銀行牌照的 fintech 發展。

North America (USA): The United States has a more fragmented （美國內容未完，故此略去餘下翻譯）regulatory system for banking, making life trickier for neobanks.
銀行業的監管制度令新型虛擬銀行（neobanks）經營變得更加困難。

There is no direct equivalent of a “fintech charter” (an OCC proposal for a special fintech bank charter stalled in legal challenges).
美國並無與「金融科技牌照」（即美國貨幣監理署 OCC 曾提出的金融科技特許銀行牌照，但目前因法律挑戰而擱置）完全對應的制度。

This means if a fintech wants to be a bank, it must either acquire an existing bank or apply for a full national bank charter (or state charter and then get FDIC insurance).
這代表如果一家金融科技公司想成為銀行，需要收購現有銀行，或者申請全國性銀行牌照（或州級銀行牌照，再獲得 FDIC 存款保險）。

This is a tall order; only Varo Money succeeded in getting a brand-new national bank charter (FDIC-insured) as a de novo digital bank in 2020.
這個門檻極高；至今只有 Varo Money 在2020年成功以全新數碼銀行身份獲取 FDIC 保險、擁有全國牌照。

Others like SoFi went the route of acquiring a small bank (SoFi bought Golden Pacific Bancorp) to fast-track into becoming a bank.
其他如 SoFi 就採取收購小型銀行（SoFi 買入 Golden Pacific Bancorp）來加快轉型成為銀行。

Most U.S. neobanks thus operate by partnering with chartered banks.
所以美國大部分 neobank 都會選擇與已獲牌銀行合作經營。

They typically establish a partnership with an FDIC-insured bank that holds the deposits on behalf of neobank users.
他們通常會與獲 FDIC 保險的銀行合作，由這些銀行代為持有 neobank 用戶存款。

This is why Chime accounts are actually held at The Bancorp Bank or Stride Bank, why Coinbase’s USD balances are held at MetaBank, etc.
所以 Chime 戶口實際上是由 The Bancorp Bank 或 Stride Bank 持有，Coinbase 的美元結餘則由 MetaBank 管理，以此類推。

The partner bank’s name is usually in the fine print and accounts are FDIC insured through them.
合作銀行的名稱一般都寫在細則中，用戶資金亦透過合作銀行獲 FDIC 存款保險。

This model works, but it means neobanks are essentially agents of existing banks from a legal perspective.
這種模式可行，但法律上來說 neobank 實際上只是現有銀行的代理人。

U.S. regulators (OCC, Federal Reserve, FDIC, CFPB) have been keeping a close eye on these arrangements to ensure that the partner banks aren’t just “renting” out their charter without proper risk controls (so-called “rent-a-bank” concerns).
美國監管機構（如 OCC、聯儲局、FDIC、CFPB）一直密切關注這些合作，防止合作銀行只「出租」牌照而沒做好風險管理（即所謂的「租用銀行牌照」問題）。

In early 2023, after some crypto-related bank failures, U.S. regulators also informally cautioned banks about relationships with crypto firms – meaning a partner bank might be hesitant if a neobank heavily deals in crypto.
2023年初，部分涉加密貨幣的銀行倒閉後，美國監管當局亦非正式提醒銀行注意與加密貨幣企業的合作——即如果neobank主攻加密貨幣，合作銀行可能會比較猶豫。

Additionally, the U.S. has stringent rules on bank terminology and consumer protection.
此外，美國對銀行名稱用字及消費者保障設有嚴格規定。

The CFPB made an example of Chime by making it clarify that it is a fintech service, not a bank.
消費者金融保護局（CFPB）曾經要求 Chime 澄清自己只是一個金融科技服務平台，不是銀行。

Any neobank-style offering must avoid implying they are the insured institution if they are not.
任何類似 neobank 的服務只要非銀行本身，必須避免誤導外界以為其為受保銀行。

The patchwork of state money transmitter licenses can also come into play if a neobank isn’t a bank – many fintechs need those licenses to hold and move customer funds in each state (this is a complex area many solve by again using a partner bank’s coverage).
再者，如果 neobank 不是真正銀行，還要考慮美國各州的匯款人牌照規定——許多金融科技公司需在每個州申請牌照，才能持有和轉移客戶資金（這個問題不少公司都是靠合作銀行間接解決）。

For crypto services in the US, regulation is in flux.
至於美國加密貨幣業務，監管仍在變化中。

Fintechs offering crypto must register appropriately (often as money services businesses) and in some cases get state-level crypto licenses (like the New York BitLicense).
涉足加密貨幣業務的金融科技公司須適當註冊（通常作為資金服務業務），部分州如紐約更需要申領專門加密貨幣牌照（如 BitLicense）。

Some banks in the US have been very cautious due to unclear SEC/CFTC stance on various tokens.
由於 SEC/CFTC 對各種數碼貨幣的立場不明朗，美國部分銀行對加密貨幣相當審慎。

As a result, fewer American neobanks offer in-app crypto trading compared to Europe.
因此，美國 neobank 的內置加密貨幣買賣服務明顯較歐洲少見。

SoFi is an outlier that does (it actually has to ring-fence its crypto business under its broker-dealer subsidiary).
SoFi 是例外（它需要把加密貨幣業務劃歸於子公司的券商牌照才可經營）。

Traditional banks mostly stayed away from offering crypto to retail (apart from perhaps some allowing crypto funds in wealth management).
傳統銀行大多數避開向散戶提供加密貨幣（少數只限於資產管理範疇推介虛幣基金等）。

The regulatory uncertainty (e.g., whether certain tokens are considered securities) makes it tricky.
因為監管不確定（例如，某些加密幣是否屬證券）使得發展變得困難。

However, the appetite is growing – in late 2023, we saw major banks get involved in a pilot for a regulated digital asset settlement system (Canton Network) and growing institutional interest.
不過市場興趣正在上升——2023年底已有多家大型銀行參與受監管的數碼資產結算系統（Canton Network）試驗，機構參與度增加。

Neobanks in the U.S. will likely expand crypto offerings if and when clearer rules (or legislation) emerge.
一旦監管條例明確，美國的 neobank 很可能會擴大加密貨幣產品。

APAC (Asia-Pacific): The APAC region is diverse, with different countries charting different paths for digital banking:
APAC（亞太區）：各國網絡銀行及虛擬銀行監管重點各異，發展路徑大不相同：

China: As mentioned, China has giants like WeBank and Ant Group’s MYbank – both are digital banks with full licenses, but crucially, China bans cryptocurrency trading for individuals and ICOs.
中國：正如先前提及，中國有如微眾銀行、螞蟻銀行等大型持牌數碼銀行，但中國重點是禁止個人加密貨幣交易和首次代幣發行（ICO）。

So Chinese digital banks do not integrate crypto in the way Western neobanks do.
因此，中國的數碼銀行並不像西方 neobank 般與加密貨幣業務有結合。

Instead, they’ve focused on AI, big data credit scoring, and even enterprise blockchain for backend processes (WeBank is known for its blockchain platform FISCO-BCOS used in supply chain finance, for example).
中國的數碼銀行反而聚焦於人工智能、大數據信貸評分、以及用於後台流程的企業級區塊鏈（如微眾銀行的供應鏈金融區塊鏈 FISCO-BCOS 平台）。

Regulation in China allowed tech companies to get banking licenses (with significant capital and state oversight).
中國監管也允許科技公司申請牌照成為銀行（但要求資本充裕兼受國家嚴格監督）。

The success of WeBank (400M+ users) is partly due to regulatory support for digital finance domestically while excluding foreign tech firms and keeping crypto out of retail finance.
微眾銀行（用戶超過4億）的成功，某程度歸功於中國對本地數碼金融的政策支持、排除外國科企，以及杜絕加密貨幣進入零售金融體系。

Southeast Asia: Regions like Southeast Asia have been issuing new digital bank licenses in recent years.
東南亞：當地近年積極發出虛擬銀行、新型網絡銀行牌照。

Singapore in 2020 granted four digital bank licenses (to Grab-Singtel consortium, Sea Group, Ant Group, and a Greenland consortium).
新加坡於2020年一口氣發出4個牌照（予 Grab-Singtel 財團、Sea 集團、螞蟻集團和綠地財團）。

These digital banks started coming online around 2022–2023 (e.g., Grab and Singtel’s GXS Bank launched in 2022 in Singapore).
這批數碼銀行大約於2022至2023年陸續營運（如 Grab 新電信的 GXS 銀行於2022年開業）。

Singapore’s regulator MAS is known for balancing innovation with strict oversight.
新加坡金融管理局（MAS）以創新與嚴格監管並存聞名。

They also have a clear licensing scheme for crypto exchanges and wallets under the Payment Services Act.
新加坡的《支付服務法》也為加密貨幣交易所及錢包設有明確發牌制度。

It’s conceivable that Singapore’s digital banks might integrate crypto or offer tokenized deposits in the future, but initially they are focused on underserved retail and SME segments.
未來新加坡的數碼銀行或許會加入加密幣或代幣化存款業務，但初期主力都是服務未被充分照顧的零售及中小企。

Malaysia awarded 5 digital bank licenses in 2022 (to consortiums involving Grab, Sea, local banks, etc.), those banks are starting operations by 2024–2025.
馬來西亞於2022年發出5個網絡銀行牌照（涉及 Grab、Sea、本地銀行等財團），這些銀行預計2024至2025年開始運營。

Hong Kong issued 8 virtual bank licenses in 2019 (e.g., WeLab, ZA Bank, Mox by Standard Chartered), which have since launched and collectively acquired millions of customers.
香港於2019年批准8家虛擬銀行牌照（如WeLab Bank、眾安銀行、渣打的Mox銀行等），現時這些銀行已運作並合共吸納了數百萬客戶。

Hong Kong initially kept a separation where virtual banks did not offer crypto trading directly (though ZA Bank in 2023 started facilitating crypto-to-fiat conversions for exchange clients in a regulated trial, as HK is trying to be a crypto hub while keeping banks cautious).
香港原則上分隔虛擬銀行和加密貨幣業務——虛擬銀行不能直接提供加密幣買賣（不過2023年眾安銀行開始在受監管試驗下為加密資產平台客戶提供加密對法幣兌換服務，香港正力爭成為虛擬資產樞紐但銀行與加密合作亦持審慎態度）。

India: India hasn’t issued any fully digital bank licenses yet.
印度：目前印度未有發出任何純粹數碼銀行牌照。

Regulations there still require a physical presence for banks, and fintechs typically partner with banks (similar to the U.S. model).
當地規定銀行必須有實體網點，因此許多金融科技公司需與傳統銀行合作經營（類似美國做法）。

Several Indian fintech “neobanks” (like RazorpayX, Fi, Jupiter) exist but they are front-ends on top of partner banks.
現時印度有多家所謂「neobank」（如 RazorpayX、Fi、Jupiter等），但其實只是在傳統銀行基礎上的前端平台。

The Reserve Bank of India has been conservative, citing financial stability and the large public sector bank presence.
印度央行一直較謹慎，理由是要維護金融穩定，加上國有銀行佔極大比重。

On crypto, India’s stance has been very restrictive with heavy taxes on crypto trades and earlier banking bans (since lifted by court order).
至於加密貨幣，印度一直非常嚴厲限制，對買賣徵重稅，以前更曾全面銀行禁令（後來被法院推翻）。

So, Indian neobanks have not integrated crypto services; they focus on UX and value-adds in traditional products.
所以印度 neobank 沒有加密貨幣服務，主攻用戶體驗及傳統金融產品附加值。

There are ongoing discussions in India about a digital banking license framework, but nothing concrete as of 2025.
印度對數碼銀行牌照有持續討論，但截至2025年為止仍無實質落地。

Australia: Australia embraced digital bank startups a few years ago (issuing licenses to Volt, Xinja, 86_400, etc.), but it saw some turbulence – Xinja failed in 2020, Volt shut in 2022 returning deposits to customers, and 86_400 was acquired by National Australia Bank.
澳洲：數年前曾積極批出新型數碼銀行牌照（如 Volt、Xinja、86_400 等），但亦遇上波折——Xinja 2020年失敗、Volt 2022年結業退還存款、86_400 被國民澳洲銀行收購。

The Australian Prudential Regulation Authority (APRA) had granted these new licenses but also held them to the same high standards as any bank.
澳洲審慎監管局（APRA）雖批出新牌照，但要求與現有銀行一樣高標準審查。

The lesson was that sufficient capital and a path to profitability are critical.
這證明資本充足和盈利模式是關鍵。

Australia did allow these neobanks to call themselves banks (once licensed).
澳洲新型數碼銀行獲牌後可直接自稱銀行。

The survivors (like Judo Bank, which focuses on SME lending, and Up Bank which is actually under a bank license via Bendigo & Adelaide Bank) show some success.
成功生存下來的（如主攻中小企貸款的 Judo Bank、透過 Bendigo & Adelaide Bank 取得牌照的 Up Bank）表現尚可。

Crypto in Australia is legal and quite popular, but none of the neobanks integrated it deeply – rather, separate Aussie crypto exchanges (like CoinJar) offer their own cards.
澳洲加密貨幣屬合法且頗流行，但 neobank 並未深度融合相關業務，反而由 CoinJar 等本土加密幣交易所推出自家卡片。

The regulatory stance in Australia on crypto is still evolving (they’ve been consulting on which digital assets to treat as financial products, etc.).
澳洲對加密貨幣的監管取態仍在演變中（現正就哪些數碼資產屬金融產品等問題諮詢業界）。

Middle East: Some countries in the Middle East (e.g., UAE, Bahrain, Saudi Arabia) have been proactive in fintech.
中東地區：如阿聯酋、巴林、沙特等國近年積極推動金融科技。

Bahrain licensed a digital bank (Bank ABC’s ila Bank).
巴林批准 Bank ABC 推出 ila Bank 數碼銀行。

The UAE has a few digital banking initiatives (like Liv. by Emirates NBD, and startups like YAP).
阿聯酋有多個數碼銀行方案（如 Emirates NBD 的 Liv. 及創科企業 YAP）。

Crypto regulation in the Gulf varies: the UAE is aiming to be a crypto-friendly hub (Dubai set up VARA for crypto oversight), so we might see digital banks there incorporate crypto in the future.
在海灣地區，加密貨幣監管政策不一：阿聯酋以成為虛擬資產友好中心為目標（杜拜成立VARA負責加密監管），未來或有虛擬銀行參與加密貨幣業務。

Bahrain allowed crypto firms under its central bank’s sandbox.
巴林容許加密企業進入央行監管沙盒。

These regions often look to Singapore or Europe for cues on balancing innovation with Sharia compliance and risk.
這些地區經常參考新加坡或歐洲如何在創新、風險與伊斯蘭教法之間取得平衡。

In terms of regulatory considerations general to neobanks:
就新型虛擬銀行監管而言，需留意以下幾點：

Capital and Prudential Requirements: Getting a banking license anywhere means meeting minimum capital requirements, ongoing capital ratios (like Basel III standards), liquidity ratios, etc.
資本及審慎要求：申請牌照必須達到最低資本金、資本比率（如巴塞爾協議III）和流動性比率等一系列要求。

Neobanks that become banks must comply just like incumbents.
新型虛擬銀行一旦獲牌便需完全遵守這些標準。

This is why some avoid becoming full banks initially – it’s costly and ties up capital.
有些公司不急於取得「全銀行」身分，就是因為門檻高、成本大、資本被凍結。

Regulators are increasingly looking at neobanks’ business models for sustainability, not wanting banks that just burn cash and might fail.
監管機構現時更加關注 neobank 的業務模式是否可持續，避免出現「燒錢換增長」後就倒閉的風險。

By 2025, there’s more scrutiny on whether neobanks can turn a profit and manage risks as they grow.
到2025年，當局要求新型銀行成長過程能夠賺錢及管理好風險。

For instance, UK’s regulators asked new banks to improve their lending standards and operational resilience.
以英國為例，監管部門要求新銀行加強信貸審批及營運韌性。

Operational Resilience and Security: Regulators worldwide are concerned with tech outages and cybersecurity at digital banks.
營運韌性及資訊安全：全球監管機構都關心數碼銀行軟件故障和網絡安全風險。

Many have introduced guidelines requiring robust IT governance, incident reporting, and in some cases, cloud usage guidelines if banks rely on cloud providers.
許多地區開始設指引，要求銀行有完善 IT 管理和事故回報流程，甚至對使用雲端服務有特定規定。

As noted in a Stripe article, regulators are modernizing frameworks to adapt to digital models, but also requiring neobanks to have proper risk controls (e.g., not just relying on a flashy app with no hotline when something goes wrong).
如 Stripe 文章提到，監管科技框架雖慢慢現代化追上數碼趨勢，但同時要求 neobank 必須有合適風險控制（例如出事時不能只靠一個花巧app又冇熱線）。

Consumer Protection and Financial Crime: Neobanks must comply with AML/KYC rules and are under the lens for things like fraud prevention.
消費者保護及打擊金融罪行：neobank必須嚴守反洗黑錢（AML）及認識你的客戶（KYC）規則，並被要求做好防止詐騙措施。

In fact, some neobanks grew so fast that fraud rings tried to exploit their onboarding (e.g., there were cases of identity fraud to open accounts at some neobanks).
事實上，有些新虛擬銀行增長過快導致詐騙集團有機可乘（如曾出現身份盜用開戶）。

Regulators responded by examining how well these fintechs verify customers and monitor transactions.
監管機構已加強審查金融科技公司如何驗證用戶身份及監控交易。

There’s also focus on transparency of fees and fair treatment – ensuring that if a neobank isn’t actually a bank (with deposit insurance), the customer is clearly informed.
另外，亦重視收費透明和公平對待顧客——若 neobank 本身不是銀行（沒有存款保險），必須清楚通知用戶。

Misleading marketing is a no-go.
誤導性市場推廣絕對不可接受。

Regional Limitations: Some markets simply aren’t open to independent neobanks yet due to regulatory
地區限制：部分市場因監管考慮，暫時仍未容許獨立的新型虛擬銀行出現barriers. 舉個例，例如喺好多非洲國家，電信公司同銀行主導流動支付市場，而獨立嘅neobanks（新型網上銀行）除咗做合作模式之外都好罕見。喺拉丁美洲，除了Nubank之外，一啲地區如墨西哥、哥倫比亞，監管當局有提供金融科技牌照，但亦要遵守某啲合規要求，從而造成門檻同壁壘。neobanks好多時都要按唔同國家走唔同路線——有啲地方可以攞牌，有啲就要合作或者直接收購。

Crypto監管：如果neobanks提供加密貨幣相關服務，就要即時面對嘅係完全唔同嘅監管範疇。例如，可能要攞美國嘅money transmitter license（資金轉移牌照）、歐盟國家要有crypto asset service provider registration（加密資產服務提供者註冊，MiCA生效後就可以全歐通用），甚至要開一間專責處理加密資產嘅獨立公司（好似SoFi咁做）。有啲司法管轄區限制銀行直接參與加密貨幣業務——例如喺美國，銀行對呢方面都好謹慎，因為聯邦監管部門遲遲未明確表態，冇真正批准銀行將加密貨幣納入資產負債表（除了好有限嘅情況，例如以託管方式持有兼事先知會）。所以，依家好多neobanks都係用非銀行子公司持有加密資產，又或者淨係同加密貨幣交易所合作，變相令嗰啲業務受交易所牌照規管，唔係銀行直接負責。如果有一日規管上改變，例如銀行可以發行穩定幣，或者可以接受tokenized存款，到時neobanks可能會將加密內容融入得更深。

地區差異總結：歐洲推動跨境數字銀行，有完善而審慎嘅發牌渠道；美國大部分neobanks要依賴夥伴銀行方案，仲要應付聯邦同州層面唔同規例，加密貨幣整合嗰度特別審慎；APAC（亞太區）就好參差——有啲國家完全接受數字銀行，有啲仲係要靠合作先做得，而加密貨幣政策由封殺到開放乜都有。總括嚟講，監管機構都慢慢追上neobank熱潮，首要點都係確保呢啲金融科技初創夠安全，管理得好，並真係可以服務市民，同時冇太大風險。隨住neobanks愈嚟愈成熟，喺合規上越嚟越似傳統銀行，即使前端用戶體驗繼續創新。

10. The Future of Neobanks and Their Role in the Crypto-Fintech Ecosystem

過去十年已經將零售銀行業改革一大輪，咁neobanks下一步會點？隨住呢類數字銀行成長，加密貨幣同金融科技發展，未來肯定又會有新挑戰同機遇。以下幾個重點大致描繪未來藍圖：

盈利能力與可持續性之路：頭幾年neobanks最主要追求增長——吸納用戶、拓展市場。但而家討論焦點轉向收入同利潤。好多野生neobanks因為基本賬戶利潤薄，所以好難做到賺錢。未來焦點會係搵辦法賺錢：推出貸款產品（收取利息）、高級帳戶或者收費訂閱，甚至其他產生服務費嘅金融產品。其實有啲neobanks已經開咗收費高級版（Revolut Metal, Monzo Premium），靠加多啲福利嚟吸納新收入來源。由於創投基金唔再好似以前咁瘋狂投錢，neobanks必須要做到自負盈虧。好消息係部份已經辦到——Starling Bank已經有盈利，Monzo 2023年都做到盈利，Nubank亦喺幾年增長、長期蝕錢之後2023年終於錄得純利。未來相信會有行業整合：競爭力差嘅會比人收購或者被迫結業，強嘅會吸納更多市場份額（甚至買起競爭對手帳戶組合）。總括而言，新開neobank會比以前少咗，而大家都會專注於實實在在經營好現有業務。

服務版圖擴展（Super-app大志）：愈嚟愈多neobanks想定位做金融中樞或者所謂super-app（超級應用程式）。佢哋唔止想俾你查戶口咁簡單——希望可以一App包你所有金融事務，甚至非金融（例如生活優惠）都搞掂。即係未來會見到neobanks加多啲新功能：投資（買股票、ETF）、保險、理財同預算工具、電商串連，當然唔少得加密貨幣功能。某啲行業分析提過，2025年以後，邊間neobank可以直接整合加密貨幣錢包、交易功能入自家App，等用戶可以原生地管理加密資產，邊間就有優勢。有啲neobanks可能會玩web3元素，例如用銀行ID直接login分散式App，或者提供托管tokenized資產服務。傳統金融同加密金融會融合得更緊——例如經neobank App申請穩定幣貸款，或者用加密資產做法幣貸款嘅擔保品，依賴監管肯唔肯放行。呢啲混合產品如果規管開放，真係有機會變現實。

嵌入式金融同夥伴發展：反而諷刺地，當neobanks想客戶所有嘢都用佢App時，嵌入式金融又係另一個趨勢——銀行服務成為非金融App入面一部份。neobanks可能透過合作夥伴發放服務。例如：叫車平台、電商App一齊提供自家品牌銀行服務，實際上係由neobank提供BaaS（Banking-as-a-Service）平台作後台支援。有啲neobanks（好似Starling做BaaS、或者德國Solarisbank，後者成日俾人叫做白標neobank），主力走呢條路。將來你啲銀行戶口有機會俾Google或Amazon透過合法銀行合作形式直接開，意思即係科技巨企都可變身做neobank。喺呢個生態圈，現有neobanks都可以揀同佢哋競爭，或者背後供應帳戶技術合作。

全球化 VS 本地化：展望將來策略會分歧。有少數neobanks會想求大做世界（例如Revolut，或者Nubank擴展新興市場），但好多其實都會專注自己本土或區域市場，做細分市場王。監管係銀行全球化最大門檻——唔似出App咁簡單，一定要逐個國家合法審批。所以未來有機會出現類似“neobank聯盟”模式：每個大市場有自己頭號fintech銀行，可能區域少少重疊，但大家各有優勢。不過佢哋之間又可能會結盟，互聯服務。例如：歐洲neobank同亞洲neobank合作，共同提供跨境服務。將來如果加密貨幣或者穩定幣能徹底打通國界，neobanks可以拓展至外籍或全球nomad客戶（例如Bunq，明刀明槍針對“數字遊牧族”做跨境銀行業務）。

喺加密金融生態中角色：neobanks喺crypto生態圈其實做咗出入口門戶。如果想轉現金入crypto，依家好多用戶其實都係銀行戶口轉數去交易所。如果你銀行本身已經係個交易所，或者直接一click搞掂，流程就變得簡單。隨住加密貨幣普及，中產大眾其實未必想自己儲私鑰匙管理數碼資產，可能只係想靠間信得過嘅銀行（如果銀行有保險、好介面、損失有補救）。neobanks可以同加密平台合作，確保合規同時又令客戶易接觸加密資產。此外，neobanks亦可以用簡便易用方式同去中心化金融（DeFi）結合——例如讓用戶經neobank投DeFi協議賺息，但由neobank做安全守門員或中間人，消除用戶複雜痛點。有啲金融科技專家話，邊間neobank捉得住呢啲潮流會更有競爭力。未來可能見到啲銀行直接開穩定幣帳戶，做到全球秒速過數。其實有幾個穩定幣發行商（例如USDC個Circle）都積極游說銀行fintech用穩定幣結算。neobank可以喺底層用穩定幣，令跨境轉帳幾乎即時、成日做（24/7），成本遠平過SWIFT——但用戶其實淨係見到App過數好快咁。

同傳統銀行嘅競爭同融合：傳統大銀行都唔會坐以待斃。好多老牌銀行都全面數碼化，甚至開自家純網上銀行（例如JPMorgan 2021年喺英國推Chase UK，直接挑機Monzo、Starling）。將來，“新型”同“傳統”銀行只會愈嚟愈分唔清楚——可能neobanks做大咗，金融產品種類越來越似傳統銀行，甚至設分行／客戶中心；或者傳統銀行學到夠多neobank玩法，到尾聲消費者嚟講都只係數碼銀行。其實而家已經見到大銀行買fintech，或者直接模仿佢哋啲功能。最可能結果係雙方共存加整合：有啲neobanks會俾大銀行收購，等大銀行有新鮮品牌（例如BBVA收購Simple，或者NAB買咗澳洲86_400），亦有啲neobanks反過來收購細啲公司（好似Nubank買咗Easynvest等去擴服務）。呢種競爭壓力，最終消費者會獲益——服務會好啲，收費會低啲。

監管政策演變：監管部門經過十年neobank浪潮都學到嘢。未來有可能見到更清晰嘅數碼銀行監管框架，例如美國復活某啲fintech專屬銀行牌照，又或者對營運穩健性加多啲規管。加密貨幣規管將深遠影響neobank會唔會主動大規模推crypto——如果政府訂清楚規則，有充足消費者保障，neobanks就會夠膽大舉推加密貨幣產品；相反，如果條例太嚴（例如有啲地方銀行完全唔准觸碰加密資產），neobanks就會收斂呢類服務。比較值得期待係，不少地區監管當局都開始認同 of fintech in inclusion and innovation, so they aim to strike a balance. For example, the European Central Bank has voiced support for innovation but within a stable regulatory perimeter.

有關金融科技在普及和創新方面的角色，所以他們希望取得平衡。例如，歐洲中央銀行就曾表示支持創新，但同時要在穩定嘅監管框架之內。

New Technologies and Innovation: Neobanks will likely be early adopters of new tech in banking – be it AI, open data, or even central bank digital currencies (CBDCs). AI is already used by neobanks for personalized insights and fraud detection; going forward, AI-powered financial coaches or chatbots could become far more sophisticated, giving users tailored advice on saving, spending, or investing (and doing so proactively). If governments introduce CBDCs (digital fiat currency issued by central banks), neobanks could integrate them quickly as just another currency supported in the app – possibly speeding up settlement and lowering costs further. Neobanks might also leverage biometric security, open finance (beyond banking into all financial data aggregation), and other emerging trends faster than traditional banks, because they tend to have more agile tech teams and less legacy drag.

新技術同創新：虛擬銀行有機會成為銀行界新科技的早期採用者——無論係AI、開放數據，甚至係央行數碼貨幣（CBDC）。AI而家已經俾虛擬銀行用嚟做個人化分析同防止詐騙；將來，AI驅動嘅理財顧問或者聊天機械人可以變得更加智能，主動俾客戶度身訂造嘅儲蓄、消費或者投資建議。如果政府推出CBDC（由中央銀行發行嘅數碼法定貨幣），虛擬銀行好快可以將佢當成另一種貨幣納入App支援 —— 有機會進一步加快結算速度同降低成本。虛擬銀行亦可能較傳統銀行更快運用生物認證安全、開放金融（唔止限於銀行，涵蓋所有財務數據整合）同其他新興趨勢，因為佢哋技術團隊較靈活，冇咁多舊有系統拖累。

Evolving Customer Expectations: The next generation of users will expect even more: seamless everything, instant onboarding with any provider, the ability to plug their bank into whatever platform they’re on (think banking through messaging apps, voice assistants, etc.). Neobanks will have to meet users where they are. We may see deeper integration of banking with social media or other daily tools, either through APIs or being part of super-apps. Crypto’s influence here might be that users begin to expect things like instant settlement (since blockchain transactions can be faster than bank transfers) or transparency and control (like being able to see exactly where their money is invested or yield is coming from). Neobanks could respond by adopting some of those blockchain-inspired features even within traditional finance operations.

客戶期望不斷變化：新一代用戶要求可能更高——所有嘢都要流暢無縫、隨時隨地即時開戶同用到任何服務，個人可以將自己銀行連接去佢用開嘅任何平台（例如用通訊App、語音助手理財等等）。虛擬銀行需要去到用戶身邊。未來可能會見到銀行服務同社交媒體或者其他日常工具進一步整合，可能透過API，又或者成為「超級App」其中一部分。加密貨幣帶來嘅影響有機會令用戶開始預期一啲功能，例如即時結算（因為區塊鏈交易比傳統銀行轉賬快）、高透明度同可控性（例如清晰見到自己資金投放同回報來源）。虛擬銀行可以響傳統金融操作上引入部份區塊鏈元素，去回應用戶需求。

In the evolving crypto-fintech ecosystem, neobanks are poised to play a central bridging role. They have millions of users comfortable with digital finance, and they can introduce those users to the crypto world in a safer, more user-friendly manner. Conversely, for the crypto industry, neobanks represent trusted channels to bring crypto to the masses under a regulated umbrella. The collaboration between the two could significantly accelerate mainstream adoption of digital assets – for example, one day checking your bank account and seeing not just your cash balance and stock portfolio but also your crypto holdings and maybe your NFT collectibles, all in one financial dashboard.

而家加密貨幣同金融科技生態圈不斷演變，虛擬銀行好大機會成為重要橋樑。佢哋有成百萬用戶已經習慣數碼理財，可以更安全、易用咁引領呢啲用戶進入加密世界。反過來，對加密行業嚟講，虛擬銀行亦係受信任嘅渠道，可以喺有監管之下幫加密資產普及開去。兩者合作，有可能大大加速數碼資產被主流市場接納——未來有機會你打開銀行App，不單止見到現金結餘同股票持倉，連加密資產，甚至NFT珍藏都一覽無遺，全部集中於一個金融儀表板。

However, the future will not be without hiccups. We may see some high-profile failures or scandals if a neobank mismanages risk or a crypto integration goes wrong (security breaches, etc.). Each such event will be a test of consumer trust in fintech. Yet, the trajectory so far indicates that digital-first banking isn’t a fad – it’s the new normal. The term “neobank” itself might fade once all banks are essentially digital to the customer. But the spirit of neobanks – innovation, inclusion, and user-centric design – will continue to shape finance. They’ve moved the needle on what customers expect from their financial institutions. And as they incorporate crypto and other fintech innovations, neobanks may well be the ones to finally harmonize traditional finance with the decentralized finance world, creating an ecosystem where moving between fiat and crypto is seamless and the benefits of both are available to users. In conclusion, the future of neobanks is one of integration: integrating more services, integrating with the lives of users more deeply, and integrating the old and new paradigms of money.

不過，未來都唔會冇阻滯。如果虛擬銀行風險管理失誤、或者加密資產整合出咗問題（比方話有安全漏洞），都有機會出現轟動嘅倒閉或者醜聞。每一次咁嘅事件，其實都係考驗消費者對金融科技嘅信心。不過一路以嚟嘅發展顯示，「數碼優先」銀行唔係曇花一現，而係新常態。「虛擬銀行」呢個詞，可能將來都唔再用，因為所有銀行都會對用戶數碼化。不過，虛擬銀行所帶出嘅創新、包容同以用戶為本設計，會繼續影響金融業。佢哋已經提升咗客戶對金融機構嘅期望，而當佢哋引入加密同其他金融科技創新時，虛擬銀行有機會成為最終連結傳統金融同去中心化金融世界嘅關鍵，建立一個法定貨幣同加密貨幣無縫流通、兼享兩者優勢嘅生態圈。總結嚟講，虛擬銀行嘅未來正係一個「融合」：更多服務融合、同用戶生活融合得更深、亦融合舊有同新興嘅貨幣模式。