Flipkart-backed super.money eyes neo-bank play in India's fintech race

Flipkart-backed SuperMoney, a fintech startup, is reportedly making plans to expand into the neo-banking sector. The company aims to leverage UPI-based services as a core component of its new neo-banking offerings. Neo-banks typically operate entirely digitally, providing banking services without traditional physical branches. SuperMoney's move into this space, supported by Flipkart, signals its ambition to offer a broader suite of financial services to its existing and new customer base, capitalizing on the growing adoption of digital payments and the convenience of neo-banking models in India.