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Glite Dictionary
🏦 A financial company 🏦 Not from a bank
nonbank

nonbank

5.3
Not provided by a bank, such as a payment service from another company
  • adjective
  • /ˈnɒnˌbæŋk/
  • Specialized
translation icon : no bancario
  • The government is considering new regulations for nonbank lenders to ensure consumer protection.

Examples

  • After the financial crisis, nonbank institutions began to play a larger role in providing credit to small businesses.

  • It is charged to respond to systemic risks by recommending appropriate strengthening in regulatory standards and designating, as appropriate, certain financial market utilities and nonbank financial institutions (or other firms) as systemically important (and therefore subject to new regulations).

    Academic text (2018)

  • Many consumers turn to nonbank financial services for loans when traditional banks deny their applications.

Surface Forms

nonbank positive

Morphology

nonbank = bank (transparent) = non + bank

Formed by the productive prefix 'non-' meaning 'not' plus the noun 'bank'; the meaning 'not relating to a bank' follows directly.

Etymology

The word nonbank is formed from non- ('not') and bank, as in nonprofit. So, as an adjective, nonbank describes services or businesses that are 'not' provided by a bank.