Wednesday, June 15, 2022
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[INTERVIEW] Andrew Chau, Co-founder and CEO of Neo Monetary

Neo Monetary is comparatively new to the bank card scene, however they’re making an attempt to make some noise. At present, we have now a particular visitor, Andrew Chau, the co-founder and CEO of Neo Monetary took the time to reply a few of our questions. Thanks a lot for taking trip of your busy schedule Andrew, sustain the nice work! 

1) Please inform us about your self and your position with Neo Monetary.

Hiya I’m Andrew Chau, co-founder and CEO of Neo Monetary.

For me, Neo was born from a spot the place all of my interactions with conventional Canadian banks got here collectively and left such a evident hole the place we might use know-how to disrupt and enhance the inside workings of the trade. Whether or not it was having to attend in line at a department, not with the ability to open an account on-line, or being saved on maintain simply to be bounced backwards and forwards between completely different departments, all of those points could be drastically improved by know-how.

Constructing Neo in Canada can also be actually vital to us. As a Canadian, after we take a look at the main sources of shopper tech getting used right this moment – Amazon, Uber, Netflix, and so forth. these are all American corporations opening up subsidiaries in Canada versus a real Canadian born know-how firm. We have to convey extra tech to the prairies and pave the best way for extra innovation and disruption in Canada.

2) Neo Monetary presents an unconventional money again MasterCard with non-obligatory month-to-month charges, what’s the intention behind this?

Neo monetary is a FinTech firm that’s actually re-imagining the banking expertise and the best way Canadians spend and save. Our aim with making a neighborhood of cashback is to offer wherever from native companions as much as nationwide manufacturers a platform to reward their prospects for spending with them. On the patron facet, they achieve entry to five,000+ loyalty packages all rolled up into one bank card.

Recognizing that there is no such thing as a “one-size-fits-all” rewards program, our know-how additionally helps to investigate shopper conduct and recommends the precise month-to-month plan that may tailor the rewards to their spending habits to make sure they’re receiving probably the most worth from the plan they’re on.

We additionally perceive that every Canadian approaches their funds in a different way, so we’re given them the flexibleness to select from our month-to-month plans in response to their wants. They aren’t tied to any plan they usually can select to return to the usual in the event that they wish to.

Apply right here: Neo Card

3) Neo Monetary is now providing a brand new Neo Secured Card, what triggered this determination?

We imagine that everybody ought to have entry to a card that lets them construct credit score and get rewarded on the similar time. Current playing cards all had restricted to no rewards and often had month-to-month charges. We needed to alter that and provide each Canadian, no matter their credit score historical past, worth from their monetary merchandise.

Apply right here: Neo Secured Card

4) What can we sit up for with Neo Monetary?

We have now thrilling web new merchandise within the pipeline, and improvements on our present choices being developed each day. We’re additionally in beta testing for our investments and mortgage providers which we shall be seeking to launch externally quickly. With the last word aim of being a one-stop store for Canadians monetary service wants.

5) Any closing ideas?

Neo is absolutely about re-imagining and rebuilding the banking expertise from the bottom up; we’re taking a know-how first method to a really historic trade. This permits us to supply Canadians with a greater banking expertise that’s extra aligned with the digital-heavy existence that almost all of Canadians lead.



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