According to new information from Adroit Market Research, the FinTech market is ready to hit $460 billion by 2025, at a record 11.67 percent rate of growth. In a report by GlobeNewswire, Fintech (Financial Technology) Market is set to reach $ 460 billion by 2025 While the business models determine the financial field from now on, including the neobanks, whose influence on the banking ecosystem cannot be denied, a reputed infrastructure neobank, “Neokred", established in 2019, located in Bengaluru, is empowering open banking APIs, which allows fintech, corporate and startups to launch and scale up a fintech feature customized for varied use cases. With a 35 experienced and highly skilled workforce, they develop banking APIs for clients that want to monetize on their user base. Some of Neokred's APIs power every fintech use case ranging from Prepaid Card API, Virtual Account API, and many more.

The core leadership team that leads Neokred is Tarun Nazare, Co-Founder & CEO, who takes care of product engineering, operation, and strategic decisions, has 5+ years of experience with banking instruments such as prepaid cards, AEPS, and DMT. Rohith Reji, Co-Founder & CBO, takes care of the business sales. Rohith is in strategic partnership for the last 4 years in India and overseas.

"There are lots of opportunities developing for service providers shortly and I term this as "The New Way of Banking". Corporate ecosystems are now leveraging banking instruments to serve their users with a better user experience and they want to understand the way their users behave and respond to them. This helps build customer loyalty in the long run and supply the demand of their users proactively," says Tarun Nazare, Co-Founder & CEO.

Neokred studied banking products and started surveying the challenges faced in few industries such as oil & petroleum industry, service industry, healthcare industry, retail merchants, etc. in Tier 1 & 2 markets in India

"Neobanking's TAM (Total Available Market) is still uncertain as multiple use-cases are being innovated every quarter, wherein the proverb "Any Company Can Become a Fintech" is being explored in every sector. This motivated the team to solve challenges in every sector using banking instruments. Hence the opportunity is immense and waiting to be explored. As a service provider, we understand a client's target audience and create viable products which add values to the user,” mentions Rohith Reji, Co-Founder & CBO.

Neokred studied banking products and started surveying the challenges faced in few industries such as oil & petroleum industry, service industry, healthcare industry, retail merchants, etc. in Tier 1 & 2 markets in India. Their research helped understand underlying loops that can be filled using banking APIs and the products which can help create value and increase indirect revenue for a corporate. They are now serving banking instruments to millions of users.

Neokred grows 21 percent month on month in terms of revenue with 50 percent we power those daring to enable their businesses with the best of payments, whether it is a co-branded card, or payouts we tend to take the road less traveled and enable ease of banking compliances with us so that you are onboarded quickly from client's userbase and is currently focused to serve the Indian market with challenging use cases. Neokred is the central nervous system of card management operation with different types of cards such as Prepaid, Debit, Credit, and Forex cards. There are multiple use cases under one type of card umbrella such as Salary card, student card, EMI card, and many more. "We are excited to be in the powering business and support corporates in servicing banking products with their userbase. We will be introducing a suite of innovative banking solutions in the next 3 quarters which will enhance user experience and provide immense value in the digital ecosystem," concludes Tarun.