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Showing posts from April, 2023

How Does Neobanking Affect The Banking Sector?

Neobanks have gained prominence in the financial technology sector over the past decade. Neobanks are cloud-based, digital-only banks with no physical branches that make money by providing banking services to their customers. According to GoodFirms, one of the most prominent B2B ratings and review platforms for IT, software, and other service providers, neobanking has three major advantages: The first is that it reduces customer transaction fees, and the second is that gamification techniques increase customer engagement and loyalty. Some neobanks, for instance, offer rewards for purchasing with a particular debit or credit card.  =It also enhances the customer experience. Neobanks employ fewer employees than conventional banks. They can significantly improve customer service with fewer employees by routing calls and processing transactions more quickly. This article will demonstrate how neobanks are transforming the financial industry and how Everest is the ideal solution for your...