Neo Banking Business Model

We specialize in Neo banking, the digital-only banking model. Our expertise in market research, competitor analysis, revenue models, and customer experience strategy helps clients build innovative and sustainable Neo banking business models for success in the digital finance industry.

Develop a comprehensive strategy, business model, and business plan for establishing a Neo Bank specifically catering to the SME segment

Ask

Conceptualize Neo Bank Model for SME on Top of Accounting Platform: Our client seeks guidance in conceptualizing a Neo Bank model specifically designed for SMEs, leveraging an existing accounting platform. They want to explore how the Neo Bank can integrate with the accounting platform to provide seamless financial services to SME customers.
Guide on Creating a Stack of Banking Services as Part of the Neo Bank: Our client expects assistance in creating a comprehensive stack of banking services that will be offered as part of the Neo Bank. This includes defining the range of services such as core banking functionalities, lending solutions, payment systems, cash flow management tools, and other relevant financial services tailored for SMEs.
Help in Creating a Business Plan: Our client requires guidance in developing a well-structured business plan for the Neo Bank. This includes conducting market analysis, defining the target customer segment, formulating a value proposition, determining the revenue model, outlining the operational and technology requirements, and preparing financial projections for the business.

Our Approach

Engaging with the Founders Team and Understanding Expectations: We initiated the engagement by closely collaborating with the founders’ team to gain a deep understanding of their vision, objectives, and expectations for the Neo Bank targeting SMEs. This allowed us to align our efforts with their specific goals.

Understanding the Current Business Model of the Accounting Platform: We thoroughly examined the existing business model of the accounting platform to understand its functionalities related to accounting, invoicing, and expense management. This understanding provided insights into how the Neo Bank could seamlessly integrate with the platform and leverage its existing capabilities.

Assessing Financial Services Needs for SMEs and Building Neo Bank Business Proposition: Through market research and analysis, we assessed the financial services needs of SMEs. This evaluation helped us in crafting a compelling business proposition for the Neo Bank, ensuring that the offered services catered to the specific requirements and pain points of SME customers.

Developing Business Strategy, Plan, Functional, and Technology Architecture for Neo Bank with a Set of APIs: We formulated a comprehensive business strategy and plan for the Neo Bank, outlining the market positioning, target customer segments, revenue streams, and operational framework. Simultaneously, we designed the functional and technology architecture of the Neo Bank, including the development of a set of APIs to enable seamless integration with the accounting platform and other financial services.

Building Customer Journeys on the Neo Bank Platform and Engagement Model for Various Financial Services: We focused on creating optimal customer journeys on the Neo Bank platform, ensuring a user-friendly and intuitive experience for SME customers. Additionally, we developed an engagement model for different financial services offered by the Neo Bank, ensuring personalized and efficient interactions.

Planning for Outreach Program and Building Awareness among the Banking and Financial Ecosystem: We devised an outreach program to raise awareness about the Neo Bank among the banking and financial ecosystem. This included strategic initiatives such as partnerships, collaborations, and marketing campaigns to position the Neo Bank as a trusted and innovative player in the industry.

Solution

Strategy for Neo Bank Platform for the SME Segment: We developed a comprehensive strategy for the Neo Bank platform, specifically tailored to serve the needs of SMEs. This strategy encompasses market positioning, target customer segments, competitive analysis, and a value proposition that sets the Neo Bank apart in the market.

Use Cases, Customer Journeys, and Roadmap for API Integrations: We created use cases and customer journey maps that outline the key interactions and experiences of SME customers on the Neo Bank platform. Additionally, we developed a roadmap for integrating APIs, ensuring seamless connectivity with relevant external systems and services to enhance the functionality and offerings of the Neo Bank.

Technology Architecture and Roadmap for Platform Development: We designed a robust technology architecture that forms the foundation of the Neo Bank platform. This architecture includes considerations for scalability, security, data management, and integration capabilities. Furthermore, we developed a roadmap outlining the phased approach for platform development, ensuring a structured and efficient implementation.

Outreach to Startups/Banks and Assistance in Onboarding Banking Partners for APIs: We facilitated outreach programs targeting startups and banks to promote the Neo Bank platform. We provided support in building partnerships and collaborations with banking institutions, enabling the onboarding of banking partners for APIs as part of the Bank’s open banking initiative. This collaboration enhances the range of financial services available to SME customers.

Result

The result of our engagement was the successful launch of a Neo Bank that seamlessly integrated accounting and banking services. The client was able to create a unified platform that catered to the needs of SMEs, providing them with a comprehensive suite of financial services.
Additionally, we assisted the client in onboarding a banking partner, enabling them to extend their banking services specifically tailored for SMEs. This partnership strengthened the Neo Bank’s offerings and allowed for a broader range of services to be provided to SME customers.
Overall, the client achieved their goal of establishing a Neo Bank that combined accounting and banking services, and successfully onboarded a banking partner to serve the SME segment. This resulted in an enhanced financial ecosystem for SMEs and positioned the client as a leading player in the market.