Digipay Guru

Fintechs have been growing rapidly in the past years; one of the main revolutions in its wake is that of neobanks. Neobanking is reshaping the future of the banking industry with its innovative, fully online model. These online banks don’t have physical branches like traditional banks. Instead, they offer all their services through digital platforms, making banking more modern and convenient. This shift to digital-only banking is attracting a lot of interest. It very much becomes popular among IT-proficient citizens and businesses that appreciate its efficiency and cost-effectiveness. Here in this blog, we are going to discuss the main benefits of neobanking, which has significantly revolutionized the future of neobanking .  Top 6 Benefits of Neo Banking 1. 24/7 Accessibility This feature makes Neobanking stand out among others. In contrast to the traditional banks, which always work by fixed hours, neobanks allow you to access your account, make transfers, or apply for a financial...

Digital wallets are necessary because they provide seamless and secure financial transactions. Having the best combination of features from the right pick of the digital wallet can also increase your digital wallet system's convenience and usability, leaving you with a streamlined solution to all things in digital wallets. Here are some essential features when you build or upgrade your digital wallet. Security and Authentication Security is probably the biggest worry with any digital wallet system. Your digital wallet should protect against fraud with zero liability in case of theft or unauthorized access. This means that if your digital wallet is compromised, you won't be held responsible for any fraudulent transactions. Key security features include biometric authentication (fingerprint or facial recognition), two-factor authentication, and encryption. These features prevent unauthorized access to your information, so only you can access your information related to financial ...

Branchless banking emerged as a way to solve the problem of setting up physical bank branches, especially in areas that are hard to reach or have demographically complex regions. Studies have shown significantly more mobile phone users than traditional bank account holders. So, instead of building expensive branches, banks started using digital tools like mobile apps and online platforms to provide services.  This approach saves costs and meets the expectations of younger generations who prefer fast and easily accessible services. With this demand and the convenience of digital banking, branchless banking has grown rapidly worldwide and continues to evolve to meet modern needs. Let’s delve into what branchless banking is, how this works, its benefits, challenges, and its future in transforming financial accessibility. What is Branchless Banking? Branchless banking is a new wave of offering banking products and services without relying on traditional banks. It instead uses agents to...

Neobanks have come as a modern solution in today's time where the demand for faster & more convenient digital banking is increasing. The enhancement is because nowadays people become used to things like 5G internet and instant product delivery whether it is food or medicine. So people demand convenience in every service.  The procedure of traditional banks can be slow and restrictive, and they don’t always meet modern needs. That’s where neobanks come in. These neobanks are digital-only banks. These neobanks are a part of a broader fintech revolution. They are specifically designed to make managing money faster and simpler. Let's learn about everything you need to know about neobanks and how they work. What is a Neobank? Neobanks, also known as "challenger banks," Or “new-age banks “ is a fully digital bank that doesn't have any physical branches. It exists exclusively online. It operates mainly through mobile apps and websites. Neobanks offer various services...