Neobank app development

There are a lot of business models for neobank. Neobanks can make a large percentage of their profit from interchange fees paid by businesses whenever customers purchase with a neobank’s debit card or credit card. They also benefit from interest charges on deposits and account opening. They also earn on the ATM fees. Each neobank has its own business model that fits its targeted audience the most.

Hands down, it’s a discovery phase. The customer research should support your brilliant business idea, or else you’re going to spend money on making a product that no one needs. The discovery phase has to provide you with facts and data that is closely related to the wishes, intentions, motivations, and demands of your customers that will be solved with a neobank.

It depends on the budget you have. Revolut was started by 3 talented founders. Other teams got investments soon and built up huge teams of thousands of people. The number varies a lot, and there’s no one right answer. But what we’re sure about is that you don’t have to spend all in one place: the solid team of DevOps won’t develop a whole app, as well as 300 marketers won’t write you a single line of working code. Keep everything in harmony.

When it comes to the neobank features, you may drown in the abundance of available features and invent a ton of new ones. We at Devlight use the Kano model to prioritize the development of features, and this approach has never betrayed us. You may read about how to use it in our dedicated section of the whitepaper.