How to Build a Neobank and Seize the Digital Opportunity

It won’t be wrong to say that online banks revolutionized the way we used to get banking services. Most banking services are now accessible at our fingertips, and it has opened a new industry. Hence, many entrepreneurs want to come into the industry and want to create a neobank. So the question that arises is, how to build a Neobank?

Starting a Neobank can be a tricky task. But not to worry, as in this article I will be helping you with all the information on how to start a neobank.


So let’s get into the topic right away:

How To Build a Neobank?

Build Your Neobank Core

The first step of how to start a neo bank is to build its core. You need a backend for your app, and under it, you have to create a couple of modules. For instance, you need to integrate modules or tools like APIs, card processing apps, back-office tools, and more.

The API will handle all your data and send information from one app or server to another. Like it will be used in your payment gateways, handling authentication modules, and more.

The car processing unit will be responsible for handling all transaction-related operations. And the back-office tools will help you to manage your Neobank core.

Apart from this, depending on what features you will need for your Neobank, you have to create them—for instance, email notification modules, user management databases, and more.

Build Frontend of your Neobank App

Once you are done with the backend, the next job is to work on the frontend of your app. The front end is what your customers will interact with, and you want to make sure it is engaging.

Under the front end, you not only have to make your app look awesome. But it should have features like account, account history, statement, budget, investment options, notification, customer support, etc.

Also, depending on what types of services you are going to offer, you have to include those features. Although to fast forward your process, you may think of using third-party modules. But make sure to choose well-established and secure ones.

Secure Your Neobank

You also have to think about securing your Neobank. Banking services are always under threat from hackers. Hence to avoid financial losses, you must develop multi-layer security that combines custom-built solutions and tools from trusted vendors.

Also, you can implement different technologies like machine learning. So you can track the security of your app at a deeper level.

Test Your Neobank

Lastly, before you open a neobank for the end-users to use, you need to make sure it works. Hence, you need to run a couple of tests and improve your app.

For example, you can start with unit testing. This helps you figure out how your app will perform when more users onboard the app.

Also, you need to run other tests that will help you understand how third-party services integrated into your app are working. Also, you need to run tests like security testing, regression testing, etc.

The main motive behind running different tests is to ensure that your app is stable and capable of handling many users. Also, it helps you to improve your app on the go.

Final Words:

So that was all about how to build a Neobank. Overall, developing a Neobank from scratch is a pretty complicated task. And before you jump into it, you need to make sure you have done proper research. Along with that, you will also need a team of developers who can work behind the app and improve it as you run your business.