In the realm of financial technology, a profound transformation is underway—an intricate web of innovation, inclusion, economic growth, and interconnectedness. My intention to craft this blog for the financial technologist’s discerning lens delve into the multifaceted intricacies of the “Fintech-Driven Inclusive Economic Growth” nexus. At its core, this nexus embodies the fusion of fintech’s transformative prowess with the noble mission of improving lives through financial inclusion.
A neobank, short for “new bank,” is a type of financial institution that operates exclusively online or through mobile applications, without traditional physical branches. Neobanks leverage technology and digital platforms to offer a range of financial services such as banking, payments, savings, and loans. They aim to provide a more streamlined, customer-centric, and technologically advanced alternative to traditional brick-and-mortar banks.