
TwirlyDonut
Stealth8mo
I used to work in a neo-bank earlier. These are my observations
- ability to innovate is hard. Dependencies on RBI and banks are impediment.
- neo banks are a tech layer on existing banking infrastructure. You depend on bank for any changes. Freedom to experiment is almost nil.
- can’t make money, lending is the only way to make money. Again macro economics and monetary policies govern the margins of a neobank to make money.
- can’t have a super app for banking. Incumbents are getting there with their tech stack. So new young companies cannot move faster.
- consumers don’t pay for services for banking, they are paying for their primary banks regardless.
- consumers already have primary bank accounts, why have an alternative. It does serve a marginal section of user base.
I think, for his calibre or anyone at this level need to have the wiggle room to make impact. Outcomes tightly coupled and aligned with governance is stifling. This is my view.

SqueakyWalrus
Student8mo
Ans: bcaz of that PM who joined just now
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