Neobanks, also known as digital banks or challenger banks, are financial institutions that operate exclusively online or through mobile applications, without traditional physical branches. They leverage digital technologies and innovative business models to offer a range of banking services, such as savings accounts, payments, loans, and financial management tools, often targeting tech-savvy and digitally native consumers. Neobanks typically provide streamlined, user-friendly experiences and may specialize in niche markets or innovative products.
Published in Chapter:
FinTech, RegTech, and Financial Development in India's Industry 4.0 Landscape
Copyright: © 2024
|Pages: 23
DOI: 10.4018/979-8-3693-3322-8.ch004
Abstract
This study examines the impact of fintech on India's financial landscape from 2021 to 2021. Using advanced regression techniques and accounting for various factors, the authors find a positive link between fintech and financial development, including improved access to loans and increased savings. They also highlight the potential of regtech in enhancing financial development. The findings stress the importance of balanced regulatory frameworks to foster fintech growth while managing risks. Additionally, they show how policy measures like interest rate liberalization can positively influence financial development. In conclusion, they propose a comprehensive policy framework to promote equitable fintech growth in developing nations.