What Are Full-stack Digital Banks?

By Author: R Pande
Total Articles: 457
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Digital banking can be done through fully digital online banks that do not have a physical location or through traditional banks that offer mobile and online versions of their services. Following the recommendation of an RBI task force to regulate digital banking services, the state think tank Niti Aayog suggested creating “full-stack digital banks” in India.

The proposal will cover a large number of neobank fintechs in partnership with traditional banks to provide technology support for customer acquisition and banking operations. In a discussion paper titled "Digital Banks: A Proposal for the Licensing and Regulatory Scheme for India", Niti Aayog highlights the challenges of the "partnership model" in neo banking.

To address the country's financial challenges, government think tank Niti Aayog has proposed creating fully digital banks that offer services over the internet and other nearby channels, not physical branches.

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