I am new to this game, can you please help me understand the differences and what suits whom?
@jamutsav the simple difference is that here you get everything like customer service and help online and you don’t have the need to visit the branch itself…for your conventional banks you need to visit branch for opening account and other things…where here the process is more hassle free
Hope it helps
@jamutsav Think neo-banking as an alternative to customised product of the partner bank i.e vintage banks in your terms, by a fin tech.
This custom product makes life easier for users like us to an extent.
Do note Neo banks are currently unregulated but your money is always safe as it sits with the parent bank which is licensed by RBI so fully regulated.
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