With which bank is mool partnering?
State Bank Of Mauritius
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SBM is partnering with a lot of NeoBanks - Finin, Moolโฆ
Previoulsy IDFC was giving a lot of support to the FinTech appsโฆ Niyo, etc. I am wondering why the partnership was broken?
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I too have Niyo IDFC suddenly they have closed their services without any proper notice.
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In June, I had got a call from Niyo telling me that Niyo is discontinuing support for the Niyo IDFC Savings Account and that I am supposed to use IDFC app/internet bankingโฆ
I was really annoyed. Yesโฆ I had seen it coming as they didnโt update the app for sometime, started promoting the NiyoX product and there was a lot of talks in the Niyo community forums too. But they promised it was not coming to this.
I told them, if I had wanted an IDFC First Bank Account, I would have got it myself. I wanted a Niyo NeoBank account because of the tech focus by Niyo. But they said theyโll take the feedback.
Basically we are all feedback machines. I donโt understand where all this feedback is going? Funny thing is they donโt even make a note of this feedback. Just lip serviceโฆ
Hoping Jupiter is differentโฆ 
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Of courseโฆ I donโt know what went in the background between Niyo and IDFC. Maybe Niyo was not at fault.
But from my point of view, Niyo is the customer front. IDFC is the backend.
Luckily, IDFC Bank services are good. So I am not annoyed with IDFC.
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I believe similar thing is happening with Finin and SBM
Finin users will have to convert to basic SBM account unless they close it beforehand
downside is SBMโs own banking system, app website - none are nowhere near the level of service IDFC offers
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@Krishnendu_Chowdhury Is Finin closing down or Finin is going with another bank partner (like Niyo went with Equitas SFB)?
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Giving credit where credit is dueโฆ Finin account closure was smooth.
I requested for account closure, they asked the reason. I said I am not using itโฆ They closed the account without much fuss. It was quick too.
I was thinking that I would have to hunt down a SBM branch and then get the account closed with a lot of manual work. But everything was digital. That was a good experience.
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closing down most likely
they have literally just stopped developing the app for some 6 months
and there have been no communication at all
thatโs good to hear
Iโm thinking of closure too
waiting for mool to launch just
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Whatโs special about Mool? Many people are eagerly waiting for it to launchโฆ
The thing that stands out for me is โOne account to save, spend and invest with confidenceโ
Jupiter is about spendingโฆ
Fi is about savingsโฆ
Mool a combination of bothโฆ Is that it?
I think the hefty cashback promotions have gotten to us the wrong way.
Personally, I donโt think Jupiter is primarily aimed at spending. The UI of Jupiter is not very dynamic (feels like an intentional design philosophy) which is a plus in the world of apps with constant nudges.
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Yes. We aim to become your go to finance app. Bank account, spends, savings and investments are integral part of the same. We believe that for anyone to take better financial decisions, they need to know their financial position and spending habits consciously.
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canโt say about others
for me I just want to replace Finin with mool, both being SBM
frankly I am not too enthusiastic about any โneoโ offering partnered with SBM
As Iโve previously mentioned, SBMโS banking system is still not robust enough
Finin was a sore disappointment
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@Jiten @Shawnpinto I havenโt used the Jupiter growth account yet to save money since the interest offering is same as the Jupiter verified account.
It would be better if Jupiter offer higher interest rate on the Jupiter growth account (May be same as FD interest rates of Federal Bank).
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Whatโs jupiter โgrowthโ account ? I can only see basic & verified one. Am i missing something ?
This is pots account
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What is the business model of neobanks? I know they spend less as they they donโt have branches and stuff. But how do they earn money? Are Jupiter, Fi, Niyo, Finin profitable yet?
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