Iran Launches First Specialized Technology, Innovation Neo Bank
This digital-oriented bank will focus on knowledge-based companies, startups, and technology units, and will provide financial and consulting services tailored to the needs of these businesses.
Qassemi described ‘Inno Bank’ as the country’s first specialized technology neo bank, designed to create smart financial infrastructure for the innovation ecosystem.
“Unlike traditional banks that are suitable for large industries or traditional business activities, we have prepared a structure in this neo bank that is fully tailored to the high-risk and dynamic needs of technology companies,” he said.
“Inno Bank's services will include receiving an online accelerated multi-layer card, facilitating the receipt of service-based facilities, consulting for attracting capital, connecting to venture capital funds, and accompanying the commercialization of technological products,” Qassemi noted, adding that the bank has been developed with the support of the country's banking network and within the framework of the International Hub Campus strategies.
A neo bank is a digital-only bank that provides financial services through a mobile app or website, offering services like checking and savings accounts, and often, budgeting tools.
They are distinct from traditional banks that maintain physical branches, focusing on online banking and customer experience.
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