Services Working And Advantages Of Neo Banking Training Ppt

Slide 1

This slide depicts information regarding Neo Banks. It highlights that Neo Banks are virtual banks with no physical branches providing a complete digital banking experience through mobile applications. It also mentions services that a Neo Bank offers such as account opening, payment, and money transfer, etc.

Slide 2

This slide showcases information regarding how neo bank works. It mentions that Neo Banks are customer-oriented and offer personalized services, it is data that drives their decision-making process and implementation.

Slide 3

This slide illustrates the advantages of Neo Banking. The advantages are hassle-free account creation, seamless international payments, user-friendly interface, service speed, lower fee, advanced security features, and value-added services.

Instructor’s Notes: The Advantages of Neo Banking are:

• Hassle-free account creation- Account creation in traditional banks is frequently perceived as time-consuming due to the required physical presence and lengthy process. Though there has been significant progress, the inconvenience remains. There are no such issues with Neo Banks. Because it only exists online and has no physical branches, anyone with a smartphone, tablet, or PC can create an account in a few simple steps
• Seamless international payments- International transactions are not available on cards that bank issue. Unlike traditional banks, Neo Banks allow you to conduct international transactions. Depending on the current exchange rate, one can use Neo bank cards to make purchases or transact while on an international trip
• User-friendly interface- Unlike traditional banks, Neo Banks provide a better user experience by using cutting-edge technologies. Customers do not have to deal with slow-loading net banking websites. Neo banking is available through user-friendly mobile applications and responsive websites tailored to the specific needs of consumers
• Service Speed- Transactions in a neo bank are real-time and immediate. It provides customers with a dashboard that displays an overview of all transactions and the current balance. It also assists customers in managing their finances, expenses, and savings and can be customized
• Lower Fee- One disadvantage of traditional banks is their high operating costs, which are frequently reflected in fee for services such as account statements, transaction alerts, etc. This is eliminated by neo banking, and it works digitally and provides customers with a wide range of services in a few clicks. In the case of Neo bank, there is no physical infrastructure, maintenance for physical branches, or ATMs, which saves money. Neo Banks provide their essential services for free
• Advanced Security Features- Security becomes a major concerning factor when it comes to digital transactions. The Neo bank application employs 2FA (2-factor authorization), biometric verification, RBAC (Role-Based Access Control), encryption technology, and other security measures to protect customer data. The applications are designed to ensure compliance with anti-money laundering laws, complete customer privacy, and prevent malware attacks
• Value-added Services- Banking is no longer just about money transfers. Neo Banks use AI to recommend other financial services to customers based on their account information, customer data, patterns, etc. Customers' profiles are leveraged by Neo Banks, which recommend services based on demographics. This makes it simple for customers to make their own investment decisions