New generation consumers are entering the market and dictating new rules. We see in the media how “millennials disrupt that industry,” “millennials are killing that sector.” As much as the whole fuss is exaggerated, there’ve been significant modernization shifts in the last decade, and the banking industry isn’t an exception.

Modern mobile and digital users have entirely different needs than their analog counterparts. While years ago, consumers tolerated slow and standardized financial service procedures, long queues, and slow support, now people take the industry by storm and look for services that can meet their growing needs, emerging interests (take virtual assets alone) and adapt to who they are as individuals.

Demand for more transparent, less regulated, fast, and cheap banking, sparked the idea of enhanced user experience. It became a breeding ground for innovative financial management solutions. That’s how fintech and neo-banks came to life and found their way to consumer banking.

Neo-banking is the term of banking systems solely based on digital platforms such as mobile apps or web platforms. At the times of financial uncertainty, mobile banks were transformational as they delivered relatively fast and straightforward service, quick money transactions, card to card transfers, integration of virtual assets among traditional currencies and all data reachable within one button. Some famous examples of such companies are Revolut, N26, Monzo, Yolo, and plenty of other similar platforms.

Retail Banking for Modern Consumers

In 2018, the European Union's PSD2 (Revised Payment Service Directive) came into effect. From September 2019 onwards, PSD2 requires banks to share customer account information with regulated third-parties. The directive opened doors not only for neo-banks but also for many other financial assistance providers. It encouraged even further expansion of such services and resulted in many new companies entering the market.

However, the hype went down, as consumers began noticing a few common issues that were limiting their finance management. What was happening back then and is continuing currently, is whenever a new player enters the market it offers a similar service with a new look, only by improving one most demanded area, for example, payments, while leaving the same old issues for the rest.

For users, it seems new and promising, yet again, it leaves them with another bank card, limited withdrawals, multiple KYC (know your customer), and only one banking function per service, for instance, payments. Some product providers like Curve, Monese, Money Super Market, or Transferwise offer multiple similar features such as fast payments, and tracking daily spendings, but the choice is still very limited.

But rest assured, all these companies encourage users to open new accounts, and thereby, consumers get baffled with too many apps. Even if each of them has something unique to offer (you can buy Bitcoin or stocks on Revolut), perhaps even faster transfers or bigger withdrawal limit than any other competitor, they cripple when it comes to the overall banking experience.

In the end, you end up with several apps with the same features that consume your time and money, especially if a service adds monthly fees. When you have to manage more than one program, you lose track of your spendings and savings, which results in poor financial management decisions.

On the contrary, think if there was a service that could put everything in one app? The idea of connecting as many accounts as you wish and managing everything on one platform inspired us to create OSOM. We strive to solve multiple apps problem and revolutionize the banking sector by not changing anything, only improving existing procedures.

How Is OSOM Improving Traditional and Neo-Banking By Not Doing Any Banking?

After the EU introduced the PSD2, it created perfect conditions for us to begin our OSOM journey to a better banking experience. We decided not to break our heads over new features that no one needs, instead we thought - wouldn’t it be great to have all your accounts and assets on one app?

Despite having more memory on a phone, you could also aggregate your other profiles and transfer money to multiple accounts, conduct a bank transfers to your own accounts, use a smart money tracker, exchange virtual assets to virtual assets or fiat currencies, and on top of that get unforgettable user experience. Sounds like a lot? Well, we are talking about one OSOM app.

On the side of implementing the most common banking operations, we also integrated some additional services like Robo-advisor. It aims to improve UX and UI and shift the outmoded banking journey.

Improved Banking Experience with OSOM

What do you usually do when facing an issue with a banking operation or money management? Do you call your bank or go to wait for hours in a queue just to hear the same explanation you found in the Q&A section? In the end, you might drop the issue and try to find ways to circumvent it the next time.

We don’t want our users to experience such problems anymore. We believe that daily and more complicated banking operations should be accessible for everyone and explained in the most user-friendly language because most of the problems with banking occur from not understanding money and financial operations. We seek to empower people to not only comprehend what’s happening with their money but also be curious about it.

That’s why OSOM allows you to shift from unpleasant experiences and become an expert in personal financial management. We provide the painless way to be a part of tokenomics, buy and distribute virtual assets with no hidden cost. With our app, you can be aware of stock markets, real estate trends, investment guides, and tips where to invest and how to make your money work for you.


Modern times demand advanced banking, and we aren’t only talking about sending money to a bank account. You don’t need several apps to provide the same services differently anymore. What you need is one app that helps you to be on top of all financial assets without any trouble. Digital money transfers, balance information, fast payments, virtual assets management, and much more… Wouldn’t that be OSOM?