Paper Title
Sustainable Finance in The Digital Age: A Review of The Neobanking Phenomenon

The emergence of neobanks, epitomized by their exclusive online presence and reliance on cutting-edge technologies, has brought a paradigm shift in the traditional banking landscape. This paper examines the past, current and potential role of neobanks in the global pursuit of sustainability across environmental, economic, and social domains. The main aim of this paper is to establish a synthesis of current research on neobanks’ role in achieving global sustainability. Using the qualitative research methods netnography and case studies, we examined the existing scientific literature, as well as industry reports and statistical data to comprehend a better understanding of the current relationship between neobanks and sustainability. We summarised our findings in a comprehensive literature review. Based on our findings, we devised several potential contributions of neobanks towards higher global sustainability. We find neobanks have significant potential to contribute towards global sustainability.Firstly, their paperless and online-only operations inherently reduce the environmental impact associated with traditional banking practices. Neobanks also often emphasize transparency and financial literacy, fostering responsible and sustainable financial behaviour among their users. Furthermore, neobanks support the development of sustainable global economy by enabling and promoting sustainable investments. Some of them even offer only investments in sustainable businesses. By incorporating ethical and eco-friendly criteria into their financial products, neobanks can encourage environmentally conscious decision-making among the consumers. Thus, our findings present a first comprehensive scientific review of neobanks current and potential role in achieving sustainable global economy.While neobanks alone may not single-handedly solve global sustainability challenges, their agility, innovative technologies, and customer-centric approach position them to play a significant role in fostering a more sustainable financial ecosystem. With rapidly growing number of users, we can expect their positive impact on global sustainability to increase in the future. Keywords - Neo banks, Sustainability, Sustainable Finance, Digital Banking