neobanks in India Hylobiz

Hylobiz | How do Neobanks in India Work?

Neobanks in India has e digital market has grown exponentially in the last three years with the penetration of smartphones, development in internet access, advancement of technology, and the recent pandemic. Every industry is experiencing reorganization and positive transformation with the digital boom. With the rise of neobanks, the financial industry is reshaping at a rapid pace and impacting the financial makeover of other businesses.

What are Neobanks?

Compared to traditional banks, neobank is a seemingly new concept and is quickly gaining popularity in India and across the globe as they ensure strong customer satisfaction.

The millennials and GenZ are mostly adopting the neobanks in India . The businesses of today seek the services of neobanks for a steady cash flow and for a smooth financial journey.

Neobanks can be considered a fintech or financial technology company providing digital banking facilities. The neobanks are financial institutions that operate digitally over web applications and mobile apps and don’t have any physical presence. Neobanks in India are disrupting the traditional banking system with their technological forte. The global neobank market is growing at a CAGR of 47% and there are over 250 neobanks at present in the global market. Recent changes in the financial policies in the Mideast countries have significantly contributed to the growth of neobanks. (https://sdk.finance/best-neobank-solutions/).

Neobanks in India:

In India, according to RBI norms banks are supposed to have physical branches. So, some top fintech companies have partnered with licensed traditional banks and NBFCs to provide digital banking facilities virtually to individuals and businesses in synergy.

The adoption of digital banking is growing in India and there were around 44 billion digital payments in 2021.(https://www.statista.com/statistics/1251321/india-total-volume-of-digital-payments/ ).

In India, multiple neobanks were launched in the last few years.  India will likely have multiple unicorns from this industry in the recent years to come. Some Indian neobanks like Chqbook, Zikzuk, Razorpay, and Hylobiz are strengthening the B2B value chain with their incredible tailor-based support to businesses.

Importances of Neobanks in India:

  • Easy account creation
  • High customer satisfaction
  • Digital transactions
  • Transparent as transactions are digitally tracked
  • Secured as they are in alliance with licensed financial institutions

Hylobiz- one of the top neobanks in India:

Hylobiz is a fast-growing fintech providing Neobanking facilities to the B2B segment and contributing towards financial inclusion. We are currently operational in India, UAE, and Bahrain. Unlike the traditional banks, Hylobiz in partnership with multiple banks and NBFCs provides tailored financial services to MSMEs and corporates. The platform is integrated with leading ERPs. You can get the best advantage of business automation and financial services on the Hylobiz platform when you integrate your existing ERP and bank account with Hylobiz. The impeccable prowess of Hylobiz is disruptive and ahead of the collective offers of other players in the ecosystem. Hylobiz is ready to enable e-invoicing with the largest e-invoice facilitator in India. Automatic reconciliation between payments, invoices, and GSTRs (for tax determination) is one of the top facilities on Hylobiz which keeps us ahead of other competitor ASPs.  Handling tax and GST compliances are much easy with Hylobiz. Unlike its other competitors, Hylobiz provides all top business automation and Neobanking features in a single window. Read below to know about its features and benefits.

Hylobiz as neobank for B2B businesses- glimpses of the offers:

1. The financing feature on Hylobiz offers financial services by partnered financial institutions.

  • Digital lending
    • Collateral free loans in partnership with Neogrowth credit Pvt ltd and Bajaj finserv.
    • SME credit cards
    • e-KYC, seamless account creation, and connected banking facilities in alliance with Yes Bank and Kotak Mahindra Bank

Access loan here: https://bit.ly/bajajfinservbusinessloans

  • Investments
  • Insurances

2. Digital payments and collections through multiple modes.

3. Automated reconciliation, quick settlement, and automated reports.

4. Transaction tracking in real-time.

Read Blogs Related to Lending:


  1. https://hylo.biz/how-has-fintech-improved-the-business-lending-system/
  2. https://hylo.biz/hylobiz-is-it-easy-to-get-a-collateral-free-sme-loan/

Hylobiz- Other top mentions on features and benefits

  1. Automated invoice and inventory management
  2. In class Einvoicing facility ready (Government GSP- Vayana network)
  3. Automated payment and collections
  4. Payment links
  5. Automated reminders
  6. 360-degree support
  7. Strong data security. PCI DSS Compliant, ISO 27001 Certified, and time to time VAPT in accordance with GSTN norms
  8. Lowest set up time of integration
  9. Free sign up and zero cost of installation
  10. AR, AP, and cash flow tracking in realtime
  11. Business insights through automated reports and real-time analytical dashboard
  12. Zero-second unscheduled downtime
  13. Quick onboarding
  14. Better tax management and control over audit trails

Catch up on SME offerings: https://hylo.biz/offerings-sme/

Hylobiz is promoting the steady growth of businesses. We are supporting women entrepreneurs.

Read here: https://hylo.biz/hylobiz-celebrates-and-supports-women-entrepreneurs-and-professionals/

Fetch the special offer for women entrepreneurs: https://hylo.biz/breakthebiaseveryday/

Read our blogs on: https://hylo.biz/blogs/

Follow us on medium for posts of business interests: https://medium.com/@hylobiz


Neobanks in India, are the future of the financial sector and are the answer to working capital efficiency and financial liquidity of businesses of all industries. Hylobiz, the fintech, and neobank are driving excellence and 100% customer satisfaction in terms of business process automation, credit access, support in informed business decisions, payment collections, account creations, and a lot more.

Interested? Email us: support@hylo.biz

You can contact us at: https://hylo.biz/contactus/

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