Volume 14 | Issue 3 |

 Abstract

The global financial industry is witnessing a paradigm shift with the emergence of neo-banks--digital-only financial institutions that operate without physical branches. These banks leverage cutting-edge technologies like AI, big data, and cloud computing to offer personalized, low-cost services with superior user experiences. This research provides a descriptive analysis of the neo-banking model, investigating its unique characteristics compared to conventional banking and evaluating its impact on market dynamics and financial inclusion. While neo-banks drive significant innovation and accessibility, particularly for underserved populations, they face critical challenges in long-term profitability, cybersecurity, and regulatory alignment. The findings suggest a future characterized by convergence, where "hybrid" models blending traditional trust with digital agility will define the financial landscape.

Licence: creative commons attribution 4.0

  License

Creative Commons Attribution 4.0 and The Open Definition

 Keywords

Neo-banking, Digital Banking, Financial Inclusion, Fintech Innovation, Banking Regulation, Cybersecurity, API-driven Architecture, Hybrid Banking Models

  License

Creative Commons Attribution 4.0 and The Open Definition

 Abstract

In the contemporary era, financial literacy has become an essential life skill. It influences an individual's capacity to make sound financial choices, handle finances efficiently, and establish plans for future financial stability. In a globalized economy where financial products and digital payment systems are rapidly evolving, understanding fundamental financial concepts is indispensable. Among youth, particularly college students, financial literacy forms the foundation for developing responsible financial behaviour and avoiding financial distress later in life. This study, titled "Assessing Financial Literacy among College Students: A Study on Basic Understanding of Financial Concepts," aims to evaluate the level of financial awareness among students in Kochi. It focuses on assessing their understanding of essential topics such as budgeting, interest, inflation, savings, credit management, taxation, and digital payments. The research also seeks to identify gaps in their knowledge and suggest educational strategies to enhance financial literacy among college students across different disciplines. Given the increasing exposure of young adults to digital finance platforms, online banking, and credit-based consumption, this study assumes greater importance. It intends to provide insights into how well-equipped students are to manage financial responsibilities and how educational institutions can incorporate structured financial education programs to prepare them for real-world financial decision-making.

Licence: creative commons attribution 4.0

  License

Creative Commons Attribution 4.0 and The Open Definition

 Keywords

Financial Literacy, financial awareness, credit management, digital financial literacy, financial behaviour, financial education

  License

Creative Commons Attribution 4.0 and The Open Definition