Digital-Only Banks Boom Globally As India Eyes Neobank Disruption
Mint examines India's potential for digital-only bank growth using UPI and Aadhaar.
TLDR
A post from Mint states that digital-only banks have expanded from niche apps to full banking relationships for hundreds of millions worldwide. It notes that India already has UPI, Aadhaar and a large digital user base as possible foundations. The post adds that regulation, trust, cybersecurity and incumbent banks may determine whether the country sees similar disruption. The accompanying article summary repeats that digital banks are booming and India could follow.
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