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DIFFERENCES BETWEEN NEOBANK AND DIGITAL BANK

 

Neobank

  • Exists solely online –no physical branches-
  • Business model mainly based on third parties
    *Interchange fees paid by merchant for purchases-
  • Most services are free of charge
  • All services are provided online

 

Digital Bank

  • Are the online subsidiary of an established bank
  • Business model based mainly on banking fees
    *Costs paid by customers for the services provided
  • Services provided have specific costs
  • Services are provided only in own branches.

NEOBANK TENDENCIES

The US rank of Neobanks account holders will swell to 53.7 million in 2025, up from 29.8 million this year, per Insider Intelligence forecasts. -Bank of America and Citibank combined had only 45.3 million active mobile users in Q2 2021.

THE GLOBAL VENTURE CAPITAL MARKET:

  • Starling Bank has raised more than $900 million, per Crunchbase
  • Chime has raised $1.5 billion. Monzo has raised nearly $650 million.
  • Neobank Juni raised $21.5 million in July. Novo, raised $41 million in June. Nubank has raised $2.3 billion. FairMoney has locked down +$50 million.

NEOBANK MAIN CHALLENGES

Neobanks are usually specialize in payment transfers

Lack of services and benefits –i.e. salary in advance, e-wallet, etc.-

Neobanks rely on prepaid card as the only payment means

Great for the US market. Not applicable in other regions -lack of POS penetration-

Сompile with regulations

Software development companies may develop a nice look and feel, but understanding of banking regulations is a must.

Total dependence on access to mobile line connectivity

Mobile phone signal sometimes is poor outside large cities.

Integration with the ”real world”

The world is not “mobile”, requires integration with Non Banking Correspondent networks to solve the lack of point of contact with customers

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ECOBANK™ OUR NEOBANK SOLUTION

We provide a complete ecosystem, ready to face the challenges of different market needs. Not just an application, but different modules for other markets, i.e., Retail chain networks to accept cash recharge and withdraw, etc.-

ECOBANK also provides a branded e-wallet apart from debit cards

We offer the API to be integrated into cash register platforms, POS, other mobile solutions, etc. Not dependency on branded cards, and lower costs for merchants.

The only Neobank solution that uses the customer ID as a means of payment

Adapted to the reality on low-quality signal locations. A Neobank customer can use their personal id in case the smartphone is not available

Integration with the ”real world.” Cash-In and Cash-Out Services adapted to the market

The world is not “mobile,” which requires integration with Non-Banking Correspondent networks to solve the lack of point of contact with customers.

Сomply with regulations: A solution designed to fulfill different market needs

ECOBANK was designed in modules, ready to be implemented in different markets and scenarios, and according to banking regulations.

ECOBANK™ LIST OF SERVICES


Digital onboarding
ID Control /Selfie. KYC.
Searches in black lists.


Card issuance
Instant card issuance. Visa, Mastercard, UPI


E-Wallet
Your mobile payment device for smartphones


Bill payments
Recharges, Telephone, Transportation, Utilities, etc


Massive disbursement
Donations and Social
Disbursement

Government subsidies.


Core bank processor
Multi-bank and multi-processor platform. Ready to interconnect multiple organizations


Loans
Cash in advance on account. Algorithm to calculate founds available according to income.


Money Transfer
Local and international
Western Union IT provider
PtoP, BtoC, CtoB, BtoB.


Payroll
Application for companies. Pay wages in real time. Salary in advance

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ECOBANK™ ECOSYSTEM

OPPORTUNITY FOR LARGE COMPANIES

  • Leverage international footprint.

  • Take advantage of client portfolio.

  • Traditional banking is losing market.

  • Neobank as the fastest growing business

ALL BRANDS YOU NEED

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BANKING

TARGET INDUSTRIES

GAS STATIONS

RETAIL

E-COMMERCE

B2B

TRANSPORT

FOOD INDUSTRY

PHARMA

MEDICAL

LOGISTICS

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