In a 2018 report, Accenture captured a revenue growth of 33%, transferring to new entrants of the banking industry. It included digital-savvy challenger banks, FinTechs, non -bank payment institutions etc. A year later, when they dived deep into the numbers and studied a cohort of 161 banks to find out if a digital transformation in banking co-relates to any substantial returns, in any case. (12% were digitally focused, 38% were digitally active, and 50% didn’t have any visib
Neobanks are what Slack is for physical offices. Keeping the idea of digitisation and financial inclusiveness at the core, the traditional banks have moved from brick and mortar to adapting the digital versions of their services. Neobanks take it a step further with a digital-only approach. Neobanks are a fully functional digital-only bank with advanced features. 1. Minimum overheads attract more users. The most significant expense of traditional banks is their physical branc
Ankur Mishra is COO of PayNet Systems, one of the leading digital banking and payments solution. He is a visionary leader whose flamboyant management style has given profitable results for the company. He believes in the mantra of giving 100% to his work.