Neo Banks - Low-Cost Enablers Of Accessing New Markets: Systematix
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Systematix Research Report
We hosted SaveIN – a fast-growing social finance based neo-banking platform in India.
Key takeaways are:
Neo banks will support India’s digital transformation and help develop a progressive relationship between products and customers. They would continue to work in collaboration with the traditional banking system and provide an enhanced customer experience.
The Reserve Bank of India’s view is also positive on the development of neo banks in India. They are likely to evolve into symbiotic partners for banks and financial services companies, driving further penetration of not just credit but also liability and fee-based products for new-to-banking customers like millennials, blue/grey colour workers and micro, small and medium enterprises.
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