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Shibabrata to Disrupt India's Banking Equilibrium with his “Neo Bank”

Shibabrata Bhaumik, popularly known as u201cFintech Chanakyau201d the ex banker of Lloyds and Barclays and the founder of Fintech startup PayQ recently started its banking unit as PayqNeo.<br>Read more at : https://cutt.ly/7hlZ3BQ

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Shibabrata to Disrupt India's Banking Equilibrium with his “Neo Bank”

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  1. Shibabrata to Disrupt India's Banking Equilibrium with his “Neo Bank”   

  2.  By Admin /   2020-12-01 11:03:10 Shibabrata to Disrupt India's Banking Equilibrium with his “Neo B

  3. Shibabrata Bhaumik, popularly known as “Fintech Chanakya” the ex banker of Lloyds and Barclays and the founder of Fintech star recently started its banking unit as PayqNeo.    Though the neo-banking ecosystem in the country is already getting crowded, Shibabrata wants to engender unified experience throug and technological innovations which includes Artificial Intelligence (AI) and a superior mobile banking experience through an app or a we A neo-bank is a digital banking platform, which offers all basic banking services like account opening, credit, insurance and others, b branch-led model. Startups or Small Businesses with global customer outreach typically prefers to work with a Neobank as the account opening proced and less complex and you can use the banking services worldwide without any cross border hassle and dominion limitation.

  4. Shibabrata’s UK start up PayQ aims to offer a wide range of services like faster account opening, mobile deposits, digital debit card, payments and many more without the burden of a physical network. The biggest challenge that PayQ might face is the hard-hitting directives by the Indian banking governing body RBI. Reserve Bank doesn’t recognize digital banks, though they experiment with payment banks and small finance banks, these are not full-service di platforms. India does not offer any neo-banking license unlike other countries like Singapore and Hong Kong. But NeoBank companies’ banks, riding on their licenses, to create a digital banking experience for their consumers. That’s why Shibabrata kept the regulations of the company PayQ under the law of the United Kingdom, where EU régime is stress-free partnership is rather simpler than in India. Therefore, PayQ Neo officially being headquartered in the United Kingdom can actua worldwide customers and acquire new banking relationships. Neo Banks in India are rising but will take some time to disrupt. Neo Banks is expected to raise $394 bn by 2026. In India too, Neo Bank scaling up and they raised $90 mn last year. Currently, 10 Neo Banks are operating in India along with PayQ and a few more are in th begin their operations.

  5. What is PayQ doing different from its predecessor and other Neo Bank Prototypes?   BESIEGED CUSTOMER SEGMENT PayQNeo is proficient in easier customer acquisition- customers include tech savvy millenarian, Pursuing the Asian SME and MSE a salaried class, which are not the focus areas of legacy banks at the moment. TRUNCATED PRICING CUTTING Lower costs, due to lack of physical branches and low capital investment, minimal staff and no additional operating cost. LOWER FEES/CHARGES AND EASIER CUSTOMER ACQUISITION As the cost of operations is trivial, the company can offer the cashbacks and offer much loftier than the traditional bank that opera obdurate limits. 

  6. BORN IN THE CLOUD’ TECH PLATFORM The chances of physical damage of the server is almost impossible as the data is backed up in cloud server and can be recalled into any secure nodes , with encryption technology. SPECIALISED BUSINESS BANKING SOLUTIONS  With a whole array of services including payments, receivables, budget and spend management. Globally, the PayQNeo also operate in, forex cards and payments, cash flow management and business banking services, expense management and loan products.   Latest Article Covering Shibabrata Shibabrata Bhaumik on Forbes Shibabrata Bhaumik on Daily Hunt Shibabrata Bhaumik on ZeeBiz Shibabrata Bhaumik on Hindustan Times Shibabrata Bhaumik on News Patrolling Shibabrata Bhaumik on Ani

  7. Shibabrata Bhaumik on Business Standard My Blog While emerging with PayQ, one thing that capture most of my enthusiasm is being a venture capitalist, I see hundreds of new and small scale businesses thrive and nourish online with excellent competencies by young and dynamic entrepreneurs. I get the privilege to have an interesting conversation with founders and review their business plan, being their Payment Partner and underwrite their business and see them growing over the years. Read The Blog

  8. Contact Full Name* Email* Message* +44-7887-627-440  mail@shibabratabhaumik.com  SUBMIT NOW    Copyright 2018-2020, All Right Reserved

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