Theoretical scenario

Given you switched from IDFC First bank to this niyox app(with ESFB) I have a couple of questions to ask.

  1. Should I expect a change in bank partnership in future?
  2. If that happens will I be forced to use the bank’s own app afterwards?
  3. What will happen to my existing 2in1 niyox account? Should I manage my investments in niyo money app seperately?

Hi @Ranjeth good morning! It was unfortunate to inform our users that we are no longer having partnership with IDFC First Bank, and we’ve sent communication to all the Niyo IDFC customers to migrate to New IDFC mobile banking app.

Let me try to answer your queries here:

  1. We’ve no plans to end our partnership with Equitas Small Finance Bank. Our team is working tirelessly round the clock to give the best banking experience to all of our customers through NiyoX.

  2. As said above, we are planning to expand our business with Equitas Small Finance Bank, which also leads to a healthy business relationship. :slightly_smiling_face: But if it happens, we’ll communicate to our customers that what needs to be done further. Please be assured that, your account is safe and secure with Equitas Small Finance Bank.

  3. You can always manage your investments through Niyo Money app at any point of time. The investment option which you are seeing in NiyoX app is the integration of Niyo Money app.

Hope I have answered your queries. Feel free to connect with us if you have any further queries.

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Yep this answers my question. Here’s my thoughts…

I like the UI and simplicity of NiyoX. I can manage my savings account and investments all in one app. BUT niyo money as a standalone app I don’t like that very much in terms of UI/actionable features.

So I will give NiyoX its time to evolve and stabilize as a Neobanking platform with my own set of expectations. Until then I’m not going to make a shift towards NiyoX. Let NiyoX prove itself.

Regards,
Ranjethkumar

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@Ranjeth I’m glad that was able to answer your questions :relaxed:

We’re happy to hear that you liked NiyoX. Our team is working to deliver the best neo-banking experience to our esteemed customers. Tune to our social media handles to hear more about our products and features. Stay safe, stay healthy! :slightly_smiling_face:

Cheers,
Deepak

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