nonbank
/ˌnɑnˈbæŋk/
adjective
- Describing a financial institution that offers some banking services but does not have a full banking license.
- The government introduced new rules for nonbank institutions to protect consumers.
- Many people use nonbank lenders for mortgages and personal loans.
- A nonbank financial company may offer higher interest rates on savings.
noun
- A financial institution that provides certain banking services but is not a traditional bank.
- Some nonbanks specialize in currency exchange and money transfers.
- Investors are increasingly putting money into nonbanks for better returns.
- The nonbank offered quick approval for small business loans.
Antonyms