 "Neo Banks")
This report has been updated
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts.
This trend is being seen as the next major wave in the country’s banking, financial services, and insurance (BFSI) sector.
Neo banks exist solely online and operate independently or in partnership with traditional banks.
Their market size is expected to grow to $395 billion in 2026, up from about $19 billion in 2018, according to PwC.
Such banks, spread across the United States (US), the United Kingdom (UK), Australia, and Japan, are looking to
