Singaporean Fintech Company has launched Neo-Bank in India
Atlantis, a Singapore-based fintech company, recently launched Neo-Bank (Digital Bank) in India and entered the Indian financial market. Neo-Bank is a digital model where customers can make transactions online along with various financial services that are provided with the help of the internet. They have also confirmed that their bank will not have a physical branch since everything is made online.
Atlantis has said that it will empower its customers with a smart, speedy, and easy to use the podium. It also said that this digital platform is centered on initially in India and South-East Asia. Neo-Bank is said to be the Bank of Future.
Evolution of Atlantis
Atlantis was founded by Gaurav Sharma in 2019 and has worked offices in Singapore and Bengaluru. Fintech, also called Financial Technology, means the computer programs and other technology used to support and enable banking and financial services, is a financial industry collection of companies that utilize technology to make Financial Services more efficient.
Fintech can handle your finance without human intervention for the betterment and not pay for investment guidance that may or may not surpass the market. The usage of smartphones for banking, investing, borrowing services, and cryptocurrency are some examples of technologies targeting to make financial services more reachable to the general public.
The Company thinks the Neo-Bank membership will be huge since there are around millions of young citizens working in many Metros and Cities across India. With an increase in technological advancements, youths are finding a safe place to bank their savings. Neo-bank believes that they recognize the people’s affiliation with money and would assist them in dealing with their money in an easy way.
Digital mode of transactions
The Online Bank is expecting to serve more than 3000 members in the first 90 days and it intends to build a customized Experience for its each and every customer. Presently, it allows a new user either through a waitlist or by an invite from an existing customer. By now more than Five thousand clients are on the waitlist, it announced.
In addition to that, Transaction Banking and Lifestyle Business will also be launched by Atlantis during their forthcoming years, they added. Neo-Bank who is aiming for Gen Z and Millennials will push their Economic growth to a greater extent and is anticipated to grow by 80 percent in the next few years which tolls around 27 Billion US Dollars.
