Mobiles & Tablets

Aceware launches first neobank in Kerala

Our Bureau Kochi | Updated on April 21, 2021

Neobanks operate without physical branches; target customers making financial transactions via mobile apps and other digital media platforms

Aceware FinTech Services, a leading fintech services company in Kerala, has launched the state’s first neobank, Ace Money Neobank, in partnership with YES Bank and ICICI Bank. In the first phase, start-ups, traders and business entities can open current accounts with the neobank, according to the company.

Neobank is a kind of virtual bank that operates without any physical branches. Neobanks mainly target customers who make financial transactions using mobile applications and other digital media platforms. The services of Ace Money are available at all the panchayats in Kerala and customers can make all the financial transactions at the service points of Ace Money neobank.

Also read: Neo bank — the new disruptor on the block

Apart from doorstep delivery of money, more than 100 other services, including money transfer, bill payments and recharges, land and building tax payment, bus, flight and movie ticket bookings, birth, death and marriage certificates, passport, pan card, Fastag and insurance services are available on the app.

Published on April 21, 2021

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