{"id":4346,"date":"2021-03-26T04:49:30","date_gmt":"2021-03-26T04:49:30","guid":{"rendered":"https:\/\/thenewzbiz.com\/?p=4346"},"modified":"2021-03-26T04:49:30","modified_gmt":"2021-03-26T04:49:30","slug":"niyo-partners-with-equitas-small-finance-bank-to-launch-niyox","status":"publish","type":"post","link":"https:\/\/thenewzbiz.com\/?p=4346","title":{"rendered":"Niyo partners with Equitas Small Finance Bank to launch NiyoX"},"content":{"rendered":"

The Newz Biz Team, PUNE<\/strong><\/p>\n

Niyo, India’s premier digital banking fintech, today announced the launch of Niyo X\u2014 a state-of-the-art mobile banking solution for millennials \u2014 in partnership with Equitas Small Finance Bank and Visa. With this launch, the company aims to on-board 2M customers by calendar year end 2021.<\/p>\n

Ahead of the launch, Niyo conducted a nationwide survey among 8000 millennials residing in metro and non-metro cities to understand millennial\u2019s banking needs post Covid-19 pandemic. The study revealed that 70% of Indian millennials are now inclined towards digital banks, especially for convenient customer support.<\/p>\n

Interestingly, 55% respondents said that they would switch banks for rewards & offers and 45% would switch banks for better interest rates. Addressing these needs, the NiyoX comes with industry-best \u2018007 banking\u2019 features such as 0% commission on mutual funds investment, \u20180\u2019 account maintenance charges, and upto 7% interest on account balances.<\/p>\n

Niyo\u2019s Co-founder and CEO\u00a0<\/strong>Vinay Bagri<\/strong>\u00a0said<\/strong>, \u201cAs India’s leading digital banking fintech startup, our primary focus is on easing and enhancing customer experience, and the launch of the Niyo X is a testament to our commitment to the digital transformation of the banking space.\u00a0We are delighted to launch our most ambitious product through our strategic partnership with Equitas SFB where we will provide the best possible savings account combined with a best-in-class investment account, all tied together with Niyo\u2019s usual thought-through and delightful user interface. We are confident that this will become the most sought-after banking product very soon.”<\/p>\n

Amid the COVID-19 pandemic, millennials have become more cautious with their spends. Niyo\u2019s study also notes that 60% of millennials track their expenses manually and 84% of millennials would like know how they can track their expenses with convenience. To meet their requirements, the Niyo app comes with a unique spend and savings analyzer, thus encouraging customers to be prudent with their expenses and inculcate better savings habits.<\/p>\n

Vaibhav Joshi, Chief Digital Officer (CDO), Equitas Small Finance Bank<\/strong>\u00a0said, \u201cNeobanking is the next big thing in Banking. We are happy to partner with Niyo on this path breaking initiative.\u00a0The need today is to create use case driven digital banking products and we aim to do just that with our Neobank & Fintech programs. We have developed an extensive API Banking suite that helps partners like Niyo develop a highly specialized and custom developed solution for its target audience. We are sure this program will break the shackles of the traditional banking mindset and establish a true Open Banking model.\u201d<\/p>\n

Besides the state-of-the-art mobile app, this account comes with a VISA Platinum Debit Card, an industry-high 7%* p.a. interest rate on account balance and a promise of \u201czero non-maintenance fee\u201d, making it ideal for the fast-paced lifestyle of today\u2019s aspirational millennial Indian.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Newz Biz Team, PUNE Niyo, India’s premier digital banking fintech, today announced the launch of Niyo X\u2014 a state-of-the-art mobile banking solution for millennials \u2014 in partnership with Equitas Small Finance Bank and Visa. With this launch, the company aims to on-board 2M customers by calendar year end 2021. Ahead of the launch, Niyo […]<\/p>\n","protected":false},"author":2,"featured_media":4347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[1170],"class_list":["post-4346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-niyo-partners-with-equitas-small-finance-bank-to-launch-niyox"],"_links":{"self":[{"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/posts\/4346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4346"}],"version-history":[{"count":1,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/posts\/4346\/revisions"}],"predecessor-version":[{"id":4348,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/posts\/4346\/revisions\/4348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=\/wp\/v2\/media\/4347"}],"wp:attachment":[{"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenewzbiz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}