Neobanks and the future of the banking industry
"Financial institutions must be able to deliver an easy-to-navigate, seamless digital platform that goes far beyond a miniaturised online banking offering."
Jim Marous
Did you know?
Here are some interesting facts we discovered during our research.
$ 2,048.53 billion
In revenue in the digital banking market by 2030
54.8%
The Compound Annual Growth Rate (CAGR) from 2023 to 2030
The case
In the era of digitalisation, financial technologies are becoming increasingly popular among millennials and the prior generations. Services like digital wallets, internet payment gateways (IPG), KYC, KYB and digital banking technologies are highly favoured by neobanks, startups and traditional banks. One of the reasons for this change could be the shift to digital services during the pandemic.
As people were forced to avoid physical shops, agencies and institutions, many companies started digitalising their business models to prevent bankruptcy. Some possible challenges when incorporating neobanking services include data privacy and compliance risks, expensive and long licensing processes, and a lack of proper IT infrastructure. Fortunately, the issues above can be effectively addressed with the right partner by your side.
The SEPA Cyber Tech Group Approach
SEPA Cyber offers a full range of innovative and secure white-label FinTech solutions to help you open a neobank with your design in mind. Our fully scalable and modular open banking solution allows you to establish a neobank in just a few months.
- SEPA CoreX – white-label, easy-to-use digital banking suite, suitable for neobanks
- Intuitive UI/UX
- Reporting Tools and Features
- Web and Mobile Interface
- Seamless Integration
- Politically Exposed People (PEP) and Sanctions
- Consultancy Services
- Applicable to Your Business Model
- BIN Sponsorship