banking as a service

Buy now pay later company Afterpay is the first business to use Westpac’s “banking as a service” solution, the bank announced today. The deal will allow Afterpay to offer its customers Westpac’s transaction and savings accounts and money management tools. Westpac announced plans in November to partner with 10x Future

Australia’s first digital only bank Volt today announced a strategic partnership with Microsoft to develop “Volt 2.0”, a white labelled Banking as a Service platform for non-banks.  In 2019 Volt was the first Australian challenger bank to receive a banking licence and had been focused on the consumer market. But

Westpac branch

Westpac today announced it is partnering with 10x Future technologies, a UK-based cloud banking provider, to build a new core banking stack that allows third parties to offer Westpac banking products through APIs. Download: Open Banking – How Consumers, Innovators & Incumbents All Benefit The new stack will be run separately