Neobanks/digital banks are transforming the way banking is perceived by consumers and markets; they are simplifying the financial world by creating a customer-centric digital approach to services. Global neobanks are catering to multiple target segments and have successfully validated their business models by providing excellent customer services. The key ingredient for success is having a customer-centric approach by using technology. However, there is one major challenge—profitability seems to be an issue for most neobanks.
Tinkoff, a Russian neobank focused on providing financial services, does not have any physical location. Headquartered in Moscow, the bank has seen... |
