Big banks are losing money on the average consumer, who gets turned off by unexpected fees and penalties. The customer acquisition costs of running a bank are so high that it is difficult for any bank to be profitable on the average bank account.

So it’s no surprise that they’re losing to digital wallets that are easily scalable and only charge only for what you use, with no physical branches or ATMs.

How can traditional banks compete with this disruption from Fintech? Find out more on our Youtube channel at Ticker Symbol: YOU.

Neobanking: Building Framework to Take Neobanking Mainstream

Open Banking is witnessing increased support from banks, with #neobanking use cases growing in India and worldwide. To discuss this, as well as how #neobanks and #DigitalBanks would coexist and the long-term profitability and sustainability of this segment.

Panelists:
Anup Kumar Agarwal, South Asia Fintech Lead, IFC – International Finance Corporation
Ashutosh Singh, President & CBO, NSDL Payments Bank
Vipul Sharma, Founder & CEO, Chqbook
Gurjodhpal Singh, CEO – India, Tide
Nimesh Shah, Founder, Xebra

Moderator:
Kunal Varma, Co-Founder & CEO, Freo

#banking #finance #bfs2023 #financialservices #bharatfintechsummit2023 #digitalfinance #onlinebanking #financialinclusion #financialliteracy #digitalbanking #banks #fintechs #bfsi #nbfc
#neobanks #digitalstrategy

Click here for more updates:
https://www.bharatfintechsummit.com/

Walkthrough of the original VIZZ·E dashboard, People’s Choice winner of the Deloitte Viz Games 2023.

What if we told you that you can create a bank account without ever leaving your home? Neobanks or sometimes “challenger banks” are the present and future of financial technology. They’re a purely digital, and sometimes decentralised, financial platform that eliminates the red tape and constant paperwork that come with traditional banking. In less than a minute and a half, we explain how they work and why you should care about it.