We have processed over $20 billion in transactions: Open CEO Anish Achuthan

We have an advantage over fintechs that offer lending based on credit bureau scores or conventional bank statements, said Achuthan

Open has just raised $100 million from Temasek, Google, Visa International and SBI Investment, with existing investors Tiger Global and 3one4 Capital also participating.

Targeted at small businesses, it is one of the fastest-growing neo-banking platforms in Asia. Anish Achuthan, co-founder and chief executive officer, spoke to Raghu Mohan on his plans. Edited excerpts:

What, essentially, is the difference between a neo-bank and a digital lender?

A neo-bank is a financial technology firm or a non-bank which offers banking service to customers, and can technically offer an entire spectrum of services that a licensed bank offers. In most cases, neo-banks operate without such