Team Niyox(aka Niyo), last year , in 2020 you came with great initiative with IDFC First Bank and called off that partnership without any update to those users. Now that Bank is doing own stuff and so many changes. Which were unexpected and not that good as we trusted Niyo team and they did very well.
Now you guys have again started new product NIYOX and that looks very good as of now. But how would you assure long term app and banking support as well as truly online (NEO BANKING) functionality with promising services without losing trust of people? Equitas Bank has very limited presence and as of now most important things like signature update and other critical data changes are not possible completely online yet. So what’s your assurance on this? Will Niyox last forever with great service experience or not?
Please answer everything promptly. No loops please…
Thanks for reaching out to us. I Will try my best to answer your questions below:
Each of our products has been launched in partnership with different partner banks, each with a set of offerings and specifications that they are able to commit to the product.
In the first case, the feature development has leaned more towards the partner bank’s end. NiyoX has been developed afresh and from learnings of the past, and we are confident that this new product will support your goals, both in savings and investments and stand true to the values offered by neo banks across the globe.
Equitas Small Finance Bank has been a truly supportive partner when if comes to the savings account aspect of NiyoX and we’re looking forward to nurturing and sustaining this fruitful partnership in the years to come.
Steadily, we’re also doing the best we can to build a solid neo-banking product, with services you can enjoy from the comfort of your homes without the need to step out.
In case of the IDFC partnership, we have been rigorously communicating to our customers about the transition through SMSs, calls, in-app communication and emails.
