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Neo banks open Banking and platform banking are not the same right but there's a there's also the word called Shadow banking so if we talk about open banking is means none Banks access data from customers' bank accounts that's what the whole area of open banking is where uh third-party providers or other companies using their data of people's bank accounts and integrating that data into their platforms right that open banking whereas platform banking now is

Most people would have seen the word SAS I know there are all these funny acronyms right but you know software as a service past platform as a service there's infrastructure as a service but this whole new area of as a service where you can get anything as a service or everything as a service as well right it all goes back down to cloud computing where

Honestly a University and Galaxy of opportunities you know there are people there are so many entrepreneurs coming with you know in different countries crowdfunding platforms you know investment platforms I've seen stock screeners I've seen you know Neo Banks coming forth I've seen wealth management funds coming there's a number of things you can do at in

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

The only way to mitigate that is one of the strongest mitigates for non-compliance risk is to have Scholars involved who would export scholars in this space who can review advise structure Pro you know develop and audit and so from a layperson perspective I guess to your first Port of Call would be to see is a Sharia advisor involved right do they have a scholar and if they have a scholar really you are absorbed you are not required then to investigate further you can trust from an Islamic perspective it's you can trust the Scholar's View

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