Neo Banks vs Incumbent Banks

Hero Fincorp01 Aug, 2022Finance

The advent of technology and digital innovation has led to an increase in competition, as well as higher productivity in the financial services space. An example of such innovation is the concept of neo banks, which put very simply is the digital version of a traditional bank. However, as they evolve in the Indian context and worldwide, neo banks are trying to establish themselves as being not only online financial companies but also one who offer a superior customer experience.