What do neo-banks offer and should you try them?6 min read . Updated: 01 Jun 2020, 11:01 PM IST
- These fintechs offer banking solutions and savings account from a traditional bank
- Neo-banks are offering solutions for expense management, investments, forex needs and so on
To make banking simple, convenient and meaningful, some financial technology (fintech) startups are launching neo-banks for retail customers in India. These fintechs are partnering with traditional banks and offering better solutions by using technology such as artificial intelligence (AI) and machine learning (ML). Initially, the neo-banks that were launched in India, including Open by Open Financial Technologies and RazorpayX, targeted only business customers.
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