Neobanks have lately witnessed a significant surge in user adoption among India’s SMEs by catering to the needs of entrepreneurs by offering them fintech-powered and highly customized solutions and seamless services. Furthermore, the one-stop-shop model created by them through apps and websites can provide SMEs access to various financial services ranging from banking to remittances and utility payments to money transfers and personal finance. They also help SMEs save time and money by providing digital and mobile-first financial solutions. Thus, by addressing the unique needs of small business owners, neobanks may enable India to emerge as the SME capital of the world.
