Annotated Bibliography on Neo Banks
Sorensen, E. (2019). What is Neo Bank? How Does it Differ from Traditional Banks? Mobile Transaction. Retrieved from https://www.mobiletransaction.org/what-is-a-neo-bank/
The writer defines ‘neo’ as a Greek word, which means new. She argues that neo banks offer the same services as traditional banks and appeal to those who are technologically informed or people who will benefit from low entry financial solutions. She talks of the differences between conventional banks and neo banks in terms of service platform, time established, customer relationship, support, fees, banking, bank branches, and approval processes. She further classified neo banks, those with bank licenses, those without, and those with alternative bank licenses.
Neo Banks and the Next Banking Revolution. (n.d.). Pwc. India. Retrieved from https:www.pwc.in/consulting/financial-services/fintech/fintech-insights/neobanks-and-the-next-banking-revolution.html.
The writer argues that neo banks challenge traditional banks by being cheap, customer-centric, and easier to work with. The article explains that digital banks are different from neo banks in that they belong to an established bank while a neo bank only exists online without any physical branches. However, they can partner with traditional banks. It further explains the advantages of neo banks, which are: smooth customer experience, automated bank services (e.g., balance sheets), APIs that are easy to use, and provision of profound insights. Don't use plagiarised sources.Get your custom essay just from $11/page
Berkmen, P., Beaton, K., Gershenson, D., Granado, J., Ishi, K., Kim, M., . . . Rousset, M. (2019). Fintech in Latin America and the Carribean: Stock Taking. International Monetary Fund. Retrieved from https://www.imf.org/en/Publications/WP/Issues/2019/03/26/Fintech-in-Latin-America-and-the-Carebbean-stocktaking–46677
The writers explain about opportunities and challenges of neo banks in the Caribbean, the problems being legislation issues, cybersecurity, and lack of capacity and standards by countries to adopt the technology. They argue that fintech provides opportunities in financial, development, innovations, competition, and regional inclusion. The paper also focuses on stability risks and considerations for central bank currencies in Latin America and the Caribbean. There is, however, a variation in financial development in different countries Brazil, Chile, and Barbados ranking highest while Paraguay and Haiti ranking lowest.
Alois, D. (2019). 3 Biggest Fintech Trends Shaping Latin America. Crowdfund Insider. Retrieved from www.crowdfundinsider.com/2019/06/148284-3-biggest-fintech-trends-shaping-latin-america/
The writer argues that Latin America is one of the fastest-growing regions in the world, with a mobile usage of 61%, with some companies preparing to deploy 5G connectivity. She states that the region is a leader in mobile payment options with mobile payment platforms such as MercadoLibre in Buenos Aires, Clip in Mexico, and Ripio Credit Network in Argentina. The second trend is that neo banks are bringing the region’s unbanked population online who were unable to own bank accounts due to many traditional banks’ requirements. The final trend is the ease of shopping online by accessing digital banking services such as e-wallets; this promotes e-commerce growth.
Fintech Companies Preview Big. Innovations and Changes in Finance Markets in Latin America: IADB. (2017). InterAmerican Development Bank- IADB.org. Retrieved from www.iadb.org/en/news/fintech-companies-preview-big-innovations-and-changes-financial-markets-latin-america
The article speaks about the rapid growth of fintech in Latin America and challenges in their regulation. The statistics are that one out of four fintech companies is alternative finance platforms, a quarter of the deal in payments, and the remaining are wealth management, insurance enterprise, and personal financial management digital banks. The article states that countries with the most significant numbers of startups in Latin America are; Brazil, Mexico, Colombia, Argentina, and Chile, which have 90% fintech activity.
References
Alois, D. (2019). 3 Biggest Fintech Trends Shaping Latin America. Crowdfund Insider. Retrieved from www.crowdfundinsider.com/2019/06/148284-3-biggest-fintech-trends-shaping-latin-america/
Berkmen, P., Beaton, K., Gershenson, D., Granado, J., Ishi, K., Kim, M., . . . Rousset, M. (2019). Fintech in Latin America and the Carribean: Stock Taking. International Monetary Fund. Retrieved from https://www.imf.org/en/Publications/WP/Issues/2019/03/26/Fintech-in-Latin-America-and-the-Carebbean-stocktaking–46677
Fintech Companies Preview Big. Innovations and Changes in Finance Markets in Latin America: IADB. (2017). InterAmerican Development Bank- IADB.org. Retrieved from www.iadb.org/en/news/fintech-companies-preview-big-innovations-and-changes-financial-markets-latin-america
Neo Banks and the Next Banking Revolution. (n.d.). Pwc. India. Retrieved from https:www.pwc.in/consulting/financial-services/fintech/fintech-insights/neobanks-and-the-next-banking-revolution.html
Sorensen, E. (2019). What is Neo Bank? How Does it Differ from Traditional Banks? Mobile Transaction. Retrieved from https://www.mobiletransaction.org/what-is-a-neo-bank/