SME Neo-Banks | Global Overview
August 2, 2020
SME Neo-Banks | Global Overview
Neo-banks, especially the ones focused on SME sector, has emerged as #AntiFragiles in #FinTech with massive digitalisation sweeping across the SME sector in the time of pandemic.
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Whats #Neo in SME Banking?
Neo-banks, especially the ones focused on SME sector, has emerged as #AntiFragiles in #FinTech with massive digitalisation sweeping across the SME sector in the time of pandemic.
Key trends across the globe in the SME Neo-Banking space:
- Creative-destruction needs a fresh perspective is well established with 66% of Neo-banks’ founders being outsiders.
- #Chinese SME Neo-banks are unique in their ownership (owned by the #TechFins) with a unique business model which is intertwined with their parents’ business model. This helps them embed banking in the core-product offerings and enables them to acquire millions of customers super-efficiently.
- #Europe being the breeding ground for Neo-Banks, maintains a lead in terms of Number of Neo-banks with #Banking-as-a-Service, #OpenBanking and #MarketPlace Banking as key operating models.
- In #India, the sustained creation of digital public infrastructure (#OCEN being the latest one), along with the govt. focus to revive the MSME sector and players who are digitalising the SME value-chains, presents a unique opportunity for SME Neo Banks.
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