Neobanks as an Element of Digital Finance Transformation
Abstract
Progressive digitization is forcing changes in the finance sector, especially in payment processing. Customers expect payments to be made quickly and safely, additionally, they avoid visiting bank branches, and prefer contact via the Internet and mobile applications. Faced with the challenges of digitization, banks are coming up with new solutions to meet customer expectations. Neobanks are the answer to the demand for mobile banking services. These entities do not need to have banking licenses on their own, and can provide services by establishing cooperation with licensed entities. The article analyzes neobanks as entities that are financial service providers in the digital age. The advantages and disadvantages of banking in this form are presented, as well as the potential for their growth is indicated.
Keywords:
Neobanks, digitalization, financial services, banksReferences
aleBank. (2021). Prawie 41 proc. Polaków najczęściej robi e-zakupy za pośrednictwem smartfona; badanie Santander Consumer Bank. Pobrano z https://alebank.pl/prawie-41-proc-polakow-najczesciej-robi-e-zakupy-za-posrednictwem-smartfona-badanie-santander-consumer-bank/?id=392252&catid=33333&cat2id=361 (11.04.2022).
Alińska, A. (2019). Alternatywne finanse. Warszawa: CeDeWu.
Alliance for Financial Inclusion. (2021). Policy Framework on the Regulation, Licensing and Supervision of Digital Banks. Pobrano z https://www.afi-global.org/wp-content/uploads/2021/11/DFSWG-framework_FINAL.pdf (13.07.2022).
Boczoń, W. (2022). Coraz mniej etatów w bankowości. Te banki zlikwidowały najwięcej miejsc pracy. Pobrano z https://www.bankier.pl/wiadomosc/Coraz-mniej-etatow-w-bankowosci-Te-banki-zlikwidowaly-najwiecej-miejsc-pracy-8298562.html (7.04.2022).
Boudet, J., Gregg, B., Wong, J., Schuler, G. (2017). What Shoppers Really Want from Personalized Marketing. [b.m.]: McKinsey & Company. Pobrano z https://www.mckinsey.com/business-functions/growth-marketing-and-sales/our-insights/what-shoppers-really-want-from-personalized-marketing (14.07.2022).
Brockhurst, J. (2019). Market Ripe for Neobank Success. [b.m.]: The Nielsen Company. Pobrano z https://www.nielsen.com/au/en/insights/article/2019/market-ripe-for-neobank-success (4.04.2022).
Brown, T., Nonninger, L., Tattersall, M. (2021). UK Neobank Emerging Features Benchmark 2021. Pobrano z https://www.insiderintelligence.com/content/uk-mobile-banking-emerging-features-benchmark-2021 (14.07.2022).
Choi, J., Santhanam, P., Wray, P., Shubhankar, S., Vandensteen, J. (2020). The Rise of Digital Banking in Southeast Asia. [b.m.]: Boston Consulting Group. Pobrano z https://media-publications.bcg.com/The-Rise-of-Digital-Banking-in-Southeast-Asia.pdf (14.07.2022).
EY. (2021). NextWave Global Consumer Banking Survey. Pobrano z https://www.ey.com/pl_pl/news/2021/12/ey-next-wave-global-consumer-banking-survey (4.04.2022).
Finnovate Research. (2018). Neo-Banks: Performance and New Ideas. Pobrano z https://irp-cdn.multiscreensite.com/91156662/files/uploaded/NeoBanks%20Performance%20and%20New%20Ideas%20Finnovate_v7_10_11_2018.pdf (14.07.2022).
Grindstad, S. (2018). What Is a Neobank Really? Mobile Transaction. Pobrano z https:// www.paconsulting.com/insights/what-is-a-neobank-really (4.04.2022).
Gudergan, G., Mugge, P. (2017). The Gap Between the Practice and Theory of Digital Transformation. [b.m.]: Hawaiian International Conference of System Science. Pobrano z https://www.researchgate.net/profile/Paul-Mugge/publication/318864420_The_Gap_Between_the_Practice_and_Theory_of_Digital_Transformation/links/59821a6fa6fdcc55a1b3bc23/The-Gap-Between-the-Practice-and-Theory-of-Digital-Transformation.pdf?origin=publication_detail (14.07.2022).
Hopkinson, G., Klarova, D. (2019). How Neobanks’ Business Models Challenge Traditional Banks. [b.m.]: Young Graduate News, International Business Centre at Aalborg University. Pobrano z https://www.researchgate.net/publication/335205599_How_neobanks%27_business_models_challenge_traditional_banks (14.07.2022).
Mergel, I., Edelmann, N., Haug, N. (2019). Defining Digital Transformation: Results from Expert Interviews. Government Information Quarterly, 36(4). doi: 0.1016/j.giq.2019.06.002.
Peitz, M., Waldfogel, J. (2012). The Oxford Handbook of the Digital Economy. Oxford: Oxford University Press. (Crossref)
Rogers, D. L. (2016). The Digital Transformation Playbook. Rethink Your Business for the Digital Age. New York: Columbia University Press. (Crossref)
Roland Berger Strategy Consultants / Bundesverband der Deutschen Industrie. (2015). The Digital Transformation of Industry. Pobrano z https://www.rolandberger.com/media/pdf/Roland_Berger_digital_transformation_of_industry_20150315.pdf (4.04.2022).
Shettar, R. M. (2020). Neo Bank: A New Landscape. Journal of Xi’an University of Architecture & Technology, 12(3), 3843–3847.
Stegmeier, C., Daniels, L. (2021). The Global Growth of Neobanks – a Geographical Analysis. W: Exton Research. Report Neobanks 2021. Shifting from Growth to Profitability. Paris–Milan–Munich–Barcelona: Exton Consulting. Pobrano z http://extonconsulting.com/wp-content/uploads/2021/01/Report-Neobanks-2021.pdf (14.07.2022).
Szyszko, A. (2021). Banki cyfrowe jako rezultat procesu zmian technologicznych w sektorze Bankowym. W: P. Łasak (red.), Tożsamość banków wobec rozwoju technologii finansowych (s. 87–102). Kraków: Wydawnictwo Uniwersytetu Jagiellońskiego.
Wachal, R. (1971). Humanities and Computers. A Personal View. The North American Review, 256(1), 30–33.
Westerman, G., Calméjane, C., Bonnet, D., Ferraris, P., McAfee, A. (2011). Digital Transformation: A Roadmap for Billion-Dollar Organizations. [b.m.]: Center for Digital Business and Capgemini Consulting. Pobrano z https://www.capgemini.com/wp-content/uploads/2017/07/Digital_Transformation__A_Road-Map_for_Billion-Dollar_Organizations.pdf (13.07.2022).
Wewege, L., Lee, J., Thomsett, M. C. (2020). Disruptions and Digital Banking Trends. Journal of Applied Finance & Banking, 10(6), 15–56.
Włoch, R., Śledziewska, K. (2018). Wpływ zmian technologicznych na pracowników sektora bankowego. Warszawa: DELab UW.
Związek Banków Polskich. (2021). Raport NetB@nk, 4 kwartał 2020 r. Warszawa: Związek Banków Polskich. Pobrano z https://www.zbp.pl/getmedia/1d47ce0a-978f-46a5-ac1d-530aec383b97/Raport-Netbank_Q4-2020 (13.07.2022).
Związek Banków Polskich. (2022). Raport NetB@nk, 4 kwartał 2021 r. Warszawa: Związek Banków Polskich. Pobrano z https://www.zbp.pl/getmedia/ebf7bd37-fd02-47ad-95f0-514cc79709bc/Raport-Netbank_Q4-2021 (13.07.2022).
