Evaluating neobanks and the key questions you should be asking

28 Jan 2022
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Evaluating neobanks and the key questions you should be asking

Evaluating neobanks and the key questions you should be asking

28 Jan 2022
About the speakers
  • Peggy Mangot
    Peggy Mangot
    Operating Partner at PayPal Ventures
    Peggy Mangot is the Operating Partner for PayPal Ventures. Peggy brings a unique perspective with broad experience across traditional financial institutions, the FinTech startup ecosystem & large technology companies. Prior to PayPal Ventures, Peggy was GM/SVP, Innovation at Wells Fargo where she led the development and launch of the bank’s challenger bank and its enterprise identity management platform. Formerly, Peggy was founder & CEO of SparkGift, a Y Combinator backed micro-investing platform. Peggy also held roles at Google (partnership management for payments & commerce) and Visa (US consumer products). During her career, Peggy has also held senior roles at Allianz, Accenture, PwC and the Federal Reserve Bank of Chicago. Peggy earned her B.S. in Finance from Indiana University and her J.D. from the Loyola University Chicago School of Law.
  • Jeremy Balkin
    Jeremy Balkin
    Head of Fintech and Innovation at J.P.Morgan
    Jeremy K. Balkin is regarded as an international thought leader on ethics in banking, innovation and the strategic engagement of Millennials in financial services. He is author of Millennialization of Everything: How to Win When Millennials Rule the World, and is the award-winning author of Investing with Impact: Why Finance is a Force for Good. In 2016, the book received the Gold Medal in Business Ethics in the Axiom Business Book Awards, and also won the Business category in the International Books Awards.​ The books have received praise from luminaries including Arianna Huffington, Frances Hesselbein, Lynn Schusterman, Professor Emil Pitkin and Pope Francis. Jeremy K. Balkin serves as the Head of Innovation in North America for a major international bank and he is also an adviser to the leading global accelerator program StartUpBootCamp FinTech in New York City. He also previously worked for the Hon. Malcolm Turnbull, Australia’s 29th Prime Minister.

Key takeaways

Monetisation, market size, and a solid acquisition plan are vital areas to clarify when evaluating neobanks.

Either neobanks will get licenses, or there will be a convergence process in the future between neobanks and traditional financial institutions.

Demand for digital financial services is less complex now than it should be as customers evolve. Hence, convergence is ahead.

Those who can get from the 'neo' to the 'bank' will be the winners.