Neobanks ???

By sheils, September 26, 2019

Hi Travis, can you shed some light on this stock and what are you thoughts on Neobanking.
As per email from Daily Reakoning
We are witnessing the end of an era in Australian business.’

John McDuling,
The Age

Australia’s Banks

Are About to Get

‘CRAIGSLISTED’

If you’d bought stock in 34 companies that ‘spun off’ from Craigslist in 2010, it ‘would likely [have been] one of the best venture funds of the decade’, according to famous venture capitalist Andrew Parker.

A similar opportunity is building. But this unfolding story is a lot BIGGER than the breaking up of some outdated classifieds site.

This time around, a certain set of ‘spin off’ companies

could be about to break up Australia’s big banks.

They’re coming from all sides. And owning them

now — while no one’s heard of them — could be like owning a

‘Craigslist portfolio’ at the start of this decade…

Daily Reakoning – Expotential Investor. Ryan Dinse – Money Morning. The best ’neobank’ stock on the ASX right now!

American Banker reports:
‘In 17 deals globally, challenger banks — generally speaking, digital-first firms that provide basic financial services — raised $649 million in the second quarter; that was up about 8% from a year earlier.
‘Venture capitalists invested $1.5 billion in challenger banks in the first half of the year, a 15% increase from the same period in 2018.’

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talktome
Irregular
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A neobank is a broad category of financial services providers that appeal to information-hungry consumers who are comfortable with technology. They can also bring down banking costs and expand services to the underbanked.