Definitions

1. adjective

relating to or involving a financial institution that is not a bank

“The nonbank lender offered competitive interest rates for mortgages.”

2. noun

a financial institution that is not a bank, such as a nonbank lender or a nonbank financial company

“The nonbank’s investment services were popular among high-net-worth individuals.”

3. noun

a company or organization that provides financial services outside the traditional banking system, such as payment processing or money transmission

“The nonbank was fined for violating money laundering regulations.”