Neobanks and the next step: Salmon

In January 2024, fintech Salmon secured regulatory approval to become a licensed bank in the Philippines. Pavel Fedorov, Co-Founder of Salmon Group, told Qorus' Boris Plantier more about this new bank and its plan for years to come.

The demographics of neobank users are often surprising; it is not only young people who are signing up, but also older age brackets. What is the standard profile of your target customer? What has been key to your customer acquisition success?

When we think about the profile of our customers, it’s not just a one-size-fits-all model. At Salmon we believe banking should be accessible to all. Our customer base spans from digital natives – young people who demand seamless, intuitive experiences – to older generations who are now, more than ever, seeking alternatives to outdated traditional banking models. 

What’s key to our success? It’s creating a product that’s not only simple and transparent but deeply relevant to people’s lives. We listen closely to what our customers want and remove friction. If you can solve real problems, deliver consistently better products to serve customer needs, provide better customer service, be frank and transparent about the fees and commissions, and empower people to go after their dreams, this will be your key to long-term success.