Neo Banking: An Overview

The world is revolutionizing at a very fast rate. Tremendous Changes has been taken place in every aspect of life. Because of growth in population and industrial sector, financial sector also grows at very fast rate. Traditionally, Financial activities ad performed with the help of banks. It requires personal visit to a bank. Now a days, because of advancement of technology and changing demands of a customer, banking activities are with electronic mode. That is there is a digitalization of banks. With this changing scenario new system of banking to provide various banking facilities has been emerged. That new system is considered to be neo banking. The present research study is undertaken by the researcher with a view to understand neo banking concept. It also focuses on analyzing the significance of neo banking. At last researcher evaluated the challenges before neo banking system.