Singaporean FinTech company Atlantis has launched a challenger bank in India.
In Brief:
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It says it will target millennials, concentrating on the 10mnplus young people working in metropolitan areas and Tier-1 cities.
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It will sign up just 3000 users within three months as it wants to create a personalised experience for each.
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More than 5,000 are on the waiting list.
What does this mean?
Atlantis has stated the global millennial banking industry is worth $15.7bn and says with a high proportion of millennials and Gen Z in India being underserved this is a good place to start. It wants to offer “self-driven” solutions for personal finance management.
