Financial Quotient

What is a digital bank?

A digital bank offers banking services such as deposits, loans, debit and credit cards like a traditional bank, except that transactions are performed online and the bank does not have a physical branch.

It is different from digital banking, which refers to the online banking services that traditional banks offer to its customers now via the Internet or on mobile devices.

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A version of this article appeared in the print edition of The Sunday Times on December 22, 2019, with the headline 'What is a digital bank?'. Print Edition | Subscribe