March 18, 2019
For the last decade or so, we have witnessed evolution in many industries. The transportation industry evolved with the emergence of companies such as Uber, and the tourism industry has evolved with the emergence of companies such as Airbnb. A transformation in the banking industry was due – and neobanks are bringing that transformation.
A neobank is a digital bank which often works only through a mobile app and has no physical branches. Neobanks provide a wider user experience than a traditional bank. We have categorized neobanks into the following three categories:
1. Licensed Digital Banks: Startups whi ...