What is neo banking and how does it differ from traditional banking?
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Neo banking is the term for totally online banks that provide financial services through web platforms or mobile apps and do not have physical branches. Neo banks prioritize speedier services, reduced fees, and user-friendly interfaces over traditional banks. In order to offer safe and regulated banking experiences, they frequently work with licensed financial institutions. Leading fintech development firm Clarisco provides tailored neo banking solutions, such as API banking, digital wallets, analytics, and KYC integration. Businesses can introduce scalable, safe, and compliant neo banks designed for contemporary consumers and startups aiming to upend the financial system thanks to equally cutting-edge technology.
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