Things Traditional Banks can learn from Neo Banks and FinTech Companies

Traditionally, banks and their branches spread across the globe have catered to all our financial requirements like loans, issue of credit cards, debit cards, opening or closing of banking accounts, insurance etc.

    


However, FinTech companies have emerged with fuss-free next-generation financial solutions by introducing neo-bank software. FinTech companies offer a wide range of contactless payment solutions by using money management apps and online payment software for their customers.

In 2021, the global neo-banking market size was valued at 47.39 billion according to grand view research data. Neo-Bank Solution will continue to grow rapidly at an annual CAGR of 53.4% from 2022 to 2030.


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