Islamic Fintech

If we were to think of the advantages of a Neo Bank of using the services of a near bank one of the key ones I think would be number one is hassle-free account creation if anybody here has gone to open up a bank account with a Traditional Bank you know these large Banks which are physical branches you would know how difficult is you know you need the ID you need to book an appointment and

Some people are using the word digital Banks some people are using the word virtual Banks some people are using the word challenge banks some people are using the word alternative banking these are all the terms and everybody uses these terms differently so there's no codified  terminology right you have to see the context within which the term and the word

Neo is a Greek term okay which means new translated as new meaning it's new banking so what is new about this type of banking well I guess there's many things which I knew about New Year banking but really it's the the whole 2008 Global financial crisis that's when things started to really change

The majority of conventional alternative financing platforms whether that's you know it's crowdfunding whether it's P2P financing whether it's  you know micro-lending whether it's invoice factoring are all forms of  alternative Finance whether it's venture capital these are different areas

P2P lending for what's known as peer-to-peer lending  P2P for short it's also known as crowd lending and there's many terms and to be honest the area of crowdfunding has depending where you are in

Crowdfunding is literally what the word says it's a crowd who's funding, whereby we are removing again remember the whole idea and notion of Finance is to remove the traditional intermediaries yes or concept the traditional intermediary