Essentially neo banks are not allowed to do any form of lending, mutual fund selling, credit card issuance etc, on their own... They can only be resellers or channel partners to an existing bank, federal bank incase of Fi money. Being a reseller can only make you limited amount of money, the prize is in being able to lend/sell etc, which players like Cred, paytm, Navi are placing their bets on. That is where the real money earning potential is.. And neo banks can't do that
So there is a good chance that they will end up being great UI platforms for the underlying banks data and will be good for customers, but no real money making. Also neo banks are offering higher interest rates, over and above the rate offered by the underlying bank, I imagine they are able to do this due to fund raising, but it is not sustainable. Also how much banks would like to share data with such players is also to be seen.
See that Meesho has hired loads of PMs from ISB (I think because VP Product is an ISB Alum). Any bias towards it?
Considering ISB PMs come at high cost, the average PM salary would easily be 27-29L.
Though the company has bragged abo...
Hi Folks, Can you please let me know which startsups or organisation we should not join
Reason may be:
No Mission and Vision Pathetic HR Policies Burning investors money with 0 Revenue product Random Hiring and Layoffs Other r...
Finastra (Company in BFSI/Fintech space, deals with PG solutions) is conducting silent layoffs. Be careful before joining this company
Just got super curious
Clueless founders, panicking investors, dead market and garbage product. All combine to create these situations.
