The above mentioned products are used only for clear understanding. We don't have control of the brand and are not doing direct & indirect partnerships with them. We are also not doing promoting activities for them.

Banking Solutions

What is Neo Banking, Why You Should Invest in This Fintech Revolution?

Share:
...

$3,406.47 BILLION by 2032. The market for neo-banking solutions is getting to raise this much share, which shows the importance of paperless banking in the future. The increasing use of smartphones, digital transactions, and UPI payments will lead to attracting more users to neo banking. With this fintech revolution, there is a chance getting created for entrepreneurs in the industry. In this blog, we will learn about neo banking, and why investing in this will be a profitable business idea.  

What is Neo Banking?

Neo banking is a fully digital form of banking that works without physical branches. Unlike traditional banks, neo-banks operate entirely online through websites or mobile apps. They are designed for customers who prefer quick, easy, and flawless banking experiences.

For example, a neo banking solutions like N26, Phonepe allows customers to open an account in just a few minutes, receive real-time alerts about their transactions, transfer money instantly, and make international payments without fees. Customers can manage their accounts directly from their phones without ever needing to visit a physical bank.  

Neo Banking vs. Digital/Traditional Banking

Neo banking services are different from both traditional and digital banks in some ways.