Neobanking

Neobanks are the upcoming FinTech trends of 2020 and are trending concept in the world of banking and finance. Neobanks operate similarly as banks with the only major difference being that they are strictly online operational. Neobanks are financial institutions which don't have physical branches and offer banking services, which may be limited to savings accounts. Still, customers are drawn towards this concept as the interest rates is higher as compared to many traditional banks with less fees. Neobanks are latest upcoming technology in finance as the world is moving towards digital technologies,hence the concept of Neobanks is gradually becoming favorite of the masses.