Too Long; Didn't Read
FinTechs and neobanks are an amalgamation of technology and financial spaces. These companies provide the benefit of scalability and 21st-century innovation to an industry that has been available for over a millennium. While traditional banks might still have comparatively large customer bases, the emergence of these digital banking institutions is undeniable. The fact that these new organizations are small means that they have the freedom to relate with customers in a positive and progressive manner. These new millennium companies are revolutionizing the finance space and causing a headache to some of the most popular traditional banks.