Neobanks Hit It Big in 2021. Now, They May Already Be Obsolete.

In 2021, neobanks such as Chime and Varo were seeing explosive growth. With digital-first infrastructure that promised to deliver improved convenience and security to unbanked and underbanked individuals around the world, neobank accounts shot up from 23.3 million accounts to 33.5 million by the end of 2021...