Published Paper Details:

There are many banks are existed in the world if we take the example of neo banks and traditional banks is that neobanks operate completely online, offer no-fee accounts and bundle financial software with financial services; whereas traditional banks require you to visit a physical branch, have high account fees and focus mostly on offering as many financial services Traditionally, banks have provided all of our financial needs, including loans, deposit accounts, debit and credit cards, and insurance. The banks have met the needs of the majority of their customers with the help of their branches all over the world. However, by introducing new banks, start-ups and fintechs have now created a convenient and hassle-free new era banking experience. Robotics, machine learning and artificial intelligence technologies are used by fintech companies to provide a variety of solutions to problems faced by customers of traditional banks. This article will give a brief glance over the overview of neo banking in India. Neo bank means the bank which operates only on the digital platform. This present study focus on the growth of the Neo Banks and its operations in India. The Bengaluru-based start-up Finin is the first full-fledged consumer Neo-bank in India. Finin in partnership with State Bank of Mauritius (SBM) issuing instant personalized savings account with Visa Debit Card. The main feature of Neo Bank is they don't have any physical presence in their operations. Neo Banking having a bigger opportunity in the current scenario as the customer are averting banking activities in branches.