Business And Markets

Iran's First Neobank Launch Next Year

One or more neobanks will start operation in 2021, the Central Bank of Iran's deputy governor for innovative technologies said. 
"Robotic process automation and neobanks are among the latest innovative technologies adopted by banks across the world. Neobanks have no physical branches and their services are offered exclusively online," Mehran Moharramian was quoted as saying by way2pay. He did not provide details. 
Neobank is a new type of bank available to customers only through mobile applications and personal computer platforms. These financial institutions are reinventing the practices and processes associated with traditional banking. 


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