An interesting neo banking startup announced a funding of USD 100 million
A neo banking startup has announced its funding! What pleasant news it is.
Let us talk about neo banking. First of all, we should be aware of what is neo banking. Neo banks refer to the use of online-only financial technology, which is basically the fintech companies that have their operations only on digital means or through mobile applications. In simple words, neo banks can be referred to as digital banks which have no physical branch. The concept of neo banking is bringing a change, a disruption in the traditional banking system by using technology and artificial intelligence. This is done so that personalized services can be provided to the customers.
In other words, neo banking makes the use of a design thinking approach in solving a particular area of banking and then provides products and services tailormade in a way that makes banking simple and convenient to the final customers. The different…