Tag 'neobank'

it just depends on the life cycle where a Neo bank is in its life cycle because think of a near Bank having an economic life cycle and a business life cycle it begins like any Venture Capital right venture capital if anybody sees the life cycle of venture capital where it's in the start of phase and it's in you know  Venture Capital phase and it's in growth phase maturity and decline these are the different phases that a company goes through its business life cycle and so a Neo Bank is

there's a number of issues firstly Neo banks will definitely I mean the apps will definitely be used to some degree because of the service that they provide until traditional Banks don't catch up and they will catch up but these traditional banks are huge they're powerhouses they can you know afford to buy out these Banks and you know incorporate them into their services Nothing Stops them like that and they have the funds available they have the power so until that doesn't happen until

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