Why dont we use this thread to post all comments/publications relating to neo bank development? Current and future.

Any new ideas like @mikerich.

I found this article on https://internationalbanker.com/banking/does-the-future-of-banking-lie-in-the-hands-of-neobanks/

Worth a read

DOES THE FUTURE OF BANKING LIE IN THE HANDS OF NEOBANKS?

Key take outs

- neo banks trasnforming the very notion of banking: provide customised digital solutions vs traditional banks that mainly focusing on deposits and loans
- 39 m neo bank users end of 2019
- start ups already attracting capital and valuations of biggest neo banks in tens of billions of $
- europe leading the charge; 1 in 4 under 37 in western europe use digital banks
- international payments, cryptocurrency services and wealth-management tools very popular services used by customers : currently neobanks function primarily as niche products.
- Latin America expected to to be a global leader in neo banking. high smart phone penetration, under-banked population are reasons
- NuBank in Brazil has been a great success - valuation around $10 b
- scalability thanks to cloud based infrastrucure

Happy reading