Neobank

Fintech Weekly Deep Dive — India’s Neobank Reckoning & Global Payments Shift | Week of March 29 – April 05, 2026 Executive Summary This week’s fintech narrative is defined by a structural reckoning in India’s neobank sector and a parallel transformation in global payments infrastructure. India’s prominent neobank Fi announced the wind-down of its banking services after nearly four years of operation in partnership with Federal Bank, directing over 3.5 million customers to migrate to the bank’s native app. This development — coming just months after Fi raised $137 million — signals deeper fractures in the Indian neobank model that relies on banking-as-a-service partnerships rather than owning a full banking license. ...

Neobanks — Digital-Only Banks: Complete 101 Guide Last updated: March 2026 What is a Neobank? Neobanks are digital-only banks that operate exclusively through mobile apps and web platforms, without physical branch infrastructure. Key Characteristics 100% digital experience No physical branches Tech-first approach Lower operational costs Instant account opening How Neobanks Work Account Opening Download app Submit documents (DigiLocker, Aadhaar) Video KYC verification Instant account activation Virtual debit card issued Services Offered Service Examples Savings Account Fi, Jupiter Current Account Razorpay, Open Loans Slice, Uni Investments Groww, INDmoney Regulatory Framework RBI-regulated (through partner banks) Partner bank responsible for deposits PPI license for wallets Compliance with KYC, AML Consumer Rights Deposit insurance (via partner bank) Transparent fee structure Data privacy protection Grievance escalation process