Opinion | Neobanks – the next technological wave
4 years, 2 months ago

Opinion | Neobanks – the next technological wave

Live Mint  

The growth of neobanks is expected to disrupt the way we bank in the coming decade. More importantly, the mix of strengths amongst the new entrants and the traditional banks has led to innovative knowledge transfer. In many instances, neobanks have pushed the traditional banks to provide enhanced web-based customer services. These services provided by the neobanks outperform the ones provided by the traditional banks. But, these traditional banks could start to lose ground if new entrants continue to pull customers away from the revenue-generating areas.

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History of this topic

NatWest makes banking app available on Apple’s Vision Pro headset
5 months ago

NatWest makes banking app available on Apple’s Vision Pro headset

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy NatWest is making its banking …

The impact of technology on finance: Enhancing experiences and safety
8 months, 2 weeks ago

The impact of technology on finance: Enhancing experiences and safety

Hindustan Times  

The proliferation of financial technology and digital banking services has revolutionised the financial landscape, making access to finance more convenient and inclusive. The prominence of fintech platforms and the increasing digitalisation of banks have democratised financial services, expanding access beyond metropolitan cities. There is a significant increase in instances of fraudsters posing as employees of fintech platforms, attempting to obtain …

India ranks first in digital payments made globally: Report
1 year, 4 months ago

India ranks first in digital payments made globally: Report

Deccan Chronicle  

Hyderabad: Online banking and the shift to a cashless society started approximately three decades ago in India. This year, 91 billion digital payment transactions have been recorded and today India ranks first in the number of digital payments made globally. Backbase on Wednesday released the IDC Infobrief titled ‘Accelerating customer-centric transformation by balancing build and buy - A collaborative approach …

Empowering MSMEs through Fintech: The Role of Digital Lending in Financial Inclusion
1 year, 6 months ago

Empowering MSMEs through Fintech: The Role of Digital Lending in Financial Inclusion

Deccan Chronicle  

According to IBEF, since the inception of MSMEs, the sector has played a vital role in creating job opportunities and fostering socioeconomic development, particularly in India's semi-urban and rural areas. Offering Customized Loan Products and Flexibility: Fintech's cutting-edge technology and digital capabilities have enabled digital lending platforms to provide plenty of loan solutions specifically targeted to meet the requirements of …

Should you bank with the so-called neobanks?
2 years, 3 months ago

Should you bank with the so-called neobanks?

Firstpost  

Neobanks are still growing and developing to make a name for themselves and so it’ll take some time for them to gain the same trust from customers as they have for traditional banks Recent years have seen a rise in the popularity of neobanks. Neobanks are digital banks completely providing their services online whereas digital banks are an extension of …

Neobanks and fintech: What these terms really mean for the new age generation
2 years, 5 months ago

Neobanks and fintech: What these terms really mean for the new age generation

Firstpost  

Neobanks are fintech companies that offer a wide range of financial services, including lending, money transfers, mobile-first financial solutions, and many others In order to better cater to the younger generations, many financial services companies have modernised their business practices. Old customers may be satisfied with the services offered by traditional banks, but the tech-savvy new generations lack the patience …

Fintech allows small players to compete, rewards those that effectively address consumer needs
2 years, 10 months ago

Fintech allows small players to compete, rewards those that effectively address consumer needs

Firstpost  

With real-time banking capabilities getting enhanced by Fintechs, it has led to higher visibility of cash flow making banking services more effective Fintech, a combination of the words “financial” and “technology,” is a relatively new term that applies to any emerging technology that helps consumers or financial institutions deliver financial services in newer, faster ways than was traditionally available. Let’s …

Fintech firms, facing competition from mainstream banks, step up their offerings
2 years, 10 months ago

Fintech firms, facing competition from mainstream banks, step up their offerings

Live Mint  

Fintech companies have established themselves as viable competitors in the financial-services business, but now they face a new challenge: Some mainstream banks have started to offer fintech-inspired services such as early paycheck access and no-fee overdrafts. Fintechs, taking advantage of their technological prowess and lower costs, are offering more features that banks generally don’t, such as analysis of customers’ spending …

Things to know before opening a neobank account
3 years, 3 months ago

Things to know before opening a neobank account

Live Mint  

Fintech platforms, which sometimes refer to themselves as neobanks, are increasingly making inroads into the Indian market. These firms provide services such as savings accounts, instant loans, credit cards, mutual funds and fixed deposits. In addition, the tie-ups of neobanks with small banks also allow them to offer higher interest rates on savings accounts. A single neobank can tie up …

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