Private sector lender Axis Bank announced in September a new banking offering called ‘NEO for Business’ for MSMEs to cater to their real, current, and emerging transaction banking requirements. The services include digital self-onboarding, bulk payments, GST-compliant invoicing, payment gateway integration, 360° customer view, end-to-end transaction tracking, auto-reconciliation, recurring collections, cash flow reports, and more. Transaction banking refers to a set of banking services and products that facilitate the daily financial transactions and cash flow management of businesses, corporations, and financial institutions. ""The rise in digital adoption presents prospects for further growth in the sector, and we see this as a huge opportunity,” said Axis Bank in a statement. Existing Axis Bank Current Account customers can use NEO for Business on mobile through the mobile app or through online registration.
Private sector lender Axis Bank announced in September a new banking offering called ‘NEO for Business’ for MSMEs to cater to their real, current, and emerging transaction banking requirements. The services include digital self-onboarding, bulk payments, GST-compliant invoicing, payment gateway integration, 360° customer view, end-to-end transaction tracking, auto-reconciliation, recurring collections, cash flow reports, and more. Transaction banking refers to a set of banking services and products that facilitate the daily financial transactions and cash flow management of businesses, corporations, and financial institutions. ""The rise in digital adoption presents prospects for further growth in the sector, and we see this as a huge opportunity,” said Axis Bank in a statement. Existing Axis Bank Current Account customers can use NEO for Business on mobile through the mobile app or through online registration.