Using various sciences in solving problems have been developed significantly in recent years. In 1979 Kahneman and Tversky proposed a new school premises known as behavioral finance. In behavioral finance, by using the combination of psychology and finance, a perspective is presented which is able to explain financial decisions. The purpose of this research is the study of neurofinance literature by using the psychological science. neurofinance is a very young discipline that attempts to relate the brain processes to behavior. In this study by providing the answers for 5 questions in 7 sections, the process of emergence of neurofinance, brain function in decision making, design, methodology and approach, the difference between behavioral and neuro finance, their applications, Criticisms in this area and the results of this study are investigated . The findings showed that human’s brain is similar to a black box. When an event occurs, the brain records every moment and therefore we can prevent mistakes by processing recorded features. By knowing this, decision makers can make optimum decisions.

In this paper, first a review survey on standard finance has been done, it has been a base and foundation of financial and economic markets, then the problems of that are mentioned, also it is noted that Standard finance is not adapted to reality. The newer school of thought in finance which has been common for some years is called: Behavioral Finance; this school is more real than the Standard finance. Some biases caused the Behavioral Finance to be found. This school showed only the result but no answer for the causes. It makes researchers try more to discover another philosophy or school, results are derived from. The consequence of such an attempt directed scientists to the newest view of thought in finance, which is neurofinance, the school of thought which has been according to human brain and neurologic system.Neurofinance found the reason of many results in Economics and Finance science.

In behavioral finance and economics; the role of natural reactions of (not necessarily rational) human behaviors as an influencing variable on other economic and financial variables (which has not been considered in the past) is studied with further emphasized. The main issue is the existence of various behavioral biases in the decision making pro-cesses and selection of banking network in financial markets. Delphi and Excellence method test for data collection. In this research, we used a grounded theory approach initially based on data gathering through interviews with 74 experts, taking field notes, participatory obser-vation, documentation, abstract events, data generation, data analysis with a systematic ap-proach, open coding, axial coding, selective coding, and finally, after evaluating the model's validation with the approval of 222 subject matter experts, the model is presented with four dimensions and 20 categories and 239 features. Behavioral Finance for Private Banking: From the Art of Advice to the Science of Advice’ is nonetheless a far-reaching architecture for client-centric bespoke private wealth management, entailing a symbiosis of behavioral finance and private banking, handling state-of-the-art domains of FinTech and neuroscience.