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A digital bank represents a virtual process that includes online banking and beyond. As an end-to-end platform, digital banking must encompass the front end that consumers see, back end that bankers see through their servers and admin control panels and the middleware that connects these nodes.

OSAs are often characterized by a higher interest rate or lower fees, compared with traditional savings accounts. Many of these high-yield accounts have no minimum balance. Account holders may link their OSAs to their existing external bank accounts for easy transfer of funds between multiple accounts. Some also offer ATM cards so customers can ...

Internet banking provides personal and corporate banking services offering features such as viewing account balances, obtaining statements, checking recent transactions, transferring money between accounts, and making payments. Some banks operate as a "direct bank", where they operate entirely via the internet or internet and telephone.

A neobank (also known as an online bank, internet-only bank, virtual bank or digital bank) is a type of direct bank that operates exclusively online without traditional physical branch networks. [1] [2] [3] The term "challenger bank" is used in the UK to refer to a number of fintech banking startups that emerged in the wake of the 2007–2009 ...