Financial crime risk by business model
Select a firm type to see its inherent risk matrix, regulatory obligations, applicable typologies, and suggested controls.
Neobank / Digital Bank
App-only bank with fast remote onboarding and rapid customer growth.A neobank delivers current accounts, cards, instant payments and increasingly lending entirely through an app, with fully remote onboarding and very fast growth. The combination of frictionless onboarding, instant rails and scale means financial-crime controls must keep pace with customer numbers, which is where the model is most often tested.
Services, products, customers & market examples
Holds a banking licence (PRA and FCA) or operates on an e-money permission, with AML obligations under the Money Laundering Regulations 2017.
Typical services
Products
Primary customers
In the market
Monzo
App-only UK current accounts, cards and instant payments.
Starling
Digital bank for personal and small-business banking.
Revolut
Multi-product app spanning accounts, cards, FX and crypto.
Chime
US app-based banking through partner-bank rails.
Named firms illustrate the business model only. They show what an archetype looks like in the real market and are not an allegation of any control weakness or wrongdoing.