As reported by Finextra. About a one minute read.
Comment: I’ve had several people ask in the past about setting up a Neobank; I’ve told them all to no bother. Very crowded space, so what’s your USP and why is it defenable? Oh yeah, I know one person who runs a startup Neobank — I pushed that article past her and she said the $500K capital requirement is a joke, they spent closer to $2M to get up and running.