Simply Neobanks are digital banks as they do not have any physical branches. Neo banks are supporting their customers through 100% digital platforms.
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Regulatory bodies or Regulatory agencies are government authorities tasked with enforcing and establishing standards in certain fields of activity or operations.
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A bank is a financial institution regulated by RBI to accept deposits and make loans. Banks also perform other financial activities and provide services to customers.
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In simple words, the management of money is called Finance. Finance includes activities such as banking, leverage or debt, credit, capital markets, money, and investments.
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Fintech or Financial Technology is a revolutionary step. It is an emerging industry that uses technology to improve activities in finance.