A Study on Neo Banking and its impact on the overall financial landscape

The study examines the birth of neo banking, i.e., banks without physical establishments, and its transformation of the financial sector.It outlines the advantages of neo banks-they are cost-efficient, faster, better user experience, and enhanced financial inclusion.In addition, other issues are touched on, such as regulations, cybersecurity, and trust on the part of the clients.With the analysis done via reviews of literature and the industry, the paper assessed the impact that neo banks have on traditional banking and how such influence could very well mold the future of financial services.Finally, the study renders some important recommendations for regulators and other stakeholders to sustain an enabling and secure environment for digital banking.