Financial institutions were built to on-board people as customers (retail) or business owners as customers (SMB); however, today there is a new class of users needing access to the underlying financial infrastructure these banks use - developers.

The largest neobank in the U.S. is Chime, which has grown to ~13 million accounts by offering no-fee banking. Unlike many “traditional” banks, Chime makes no money through exploitative fees. (Instead, Chime makes money primarily through interchange—essentially the amount merchants have to pay Visa and Chime when they accept a credit or debit card.)