We build client-owned, licensed neobanks for wealthy families and family offices

Neobank is an established business term. Neobanks are regulated entities with financial licences issued by national central banks. Depending on the licensing country and region, these licences may be called EMI, PEMI, PI and so on.

A neobank can open payment accounts, process transfers, issue cards, exchange currencies, and manage the financial system and its flows. Some banking functions — deposits, lending and investments — are available to neobanks only in partnership with traditional banks.

Several banks do not create unified control

The family’s accounts and cards may be spread across countries, currencies and banks. Each bank remains a separate contour with its own interface, limits and permissions; those permissions do not extend to other banks. As a result, several banks create several interfaces, not one management system.

A bank serves an individual client, account or company

To a bank, each person or company is a separate client. A bank does not see the family as one system and does not create shared access rules, limits and approvals for relatives, assistants, staff and related companies.

Delegation becomes a manual process

When assistants, accountants, property managers and other employees prepare payments, the family must either grant overly broad permissions or approve transactions manually.

Approvals move into spreadsheets, emails and messengers, and execution rules depend on particular people.

Expenses are fragmented

The family’s, staff’s, property and related-company expenses are recorded separately. The history of decisions, permissions and transactions becomes distributed across bank portals and employees.

Dependence on one bank and external AML and KYC procedures

If one bank changes its terms or restricts operations, part of the family’s payments may stop.

Different family members repeat AML and KYC checks at each bank, under different procedures and with different outcomes.

Accounts, cards and family payments in one system

The neobank brings together the transactions of the family, its partners, companies, relatives, assistants and staff in one system.

A family member can have their own accounts and cards; an assistant can make required payments or only prepare them; employees or managers can have access only to assigned transactions or to all transactions. Limits and permissions are created separately for each person.

Permissions and approvals

Limits can be set by amount, currency, category, recipient and period. For example, an assistant prepares a payment, the head of the family or family office approves it, and the payment is then executed.

Additional approval can be required for large or unusual payments. An employee’s permissions can be changed or disabled without issuing new details or rebuilding processes.on.

Automated recurring expenses

Recurring bills can be paid automatically under pre-approved rules. This reduces manual actions while preserving the defined limits and control.

Expense history and reporting

Payments, documents and user actions are stored in one system. Spending can be viewed by person, country and asset instead of being collected manually from different bank portals. Reports are generated instantly.

Several banking or payment partners

A neobank can work with multiple currencies, banks and payment partners. This reduces the critical dependence of daily payments on one bank.

Own AML and KYC

The neobank conducts AML and KYC procedures for its clients itself. The family is less dependent on a set of fragmented checks at each external bank.

With a family office

The family office controls rules, limits and permissions, sees the family’s transactions in one system and approves payments that require its involvement. Assistants and employees carry out daily operations within pre-set rules.

Without a family office

The head of the family sets the rules. Daily operations may be carried out by trusted assistants, accountants, property managers or an external team within pre-set permissions and limits.

The owner of the neobank can be the whole family, one of its members or a family company.

The neobank is created as the family’s own financial and payment system, with day-to-day management carried out by the family or its family office.

Norlerr creates the neobank and transfers it and its infrastructure to the family. If required, Norlerr continues to support and manage it.

Limits of the solution

The neobank does not take deposits or provide lending. Such products may be available together with a partner bank selected by the family.

The family’s money remains with banks. The neobank manages accounts and payments; it does not turn the family’s funds into its own balance.