London-based neobank Revolut has launched in Australia today after the ASIC allowed the bank to use its European electronic money licence to support itself in Australia. The neobank is valued at US$1.7 billion and is one of the fastest growing companies in Europe boasting more than 4 million customers worldwide.
Digital bank Up has hit 100,000 customers since launching in October last year, the neobank attributes this growth to its quick sign up process and partnership with Apple Pay. Up said this means it is one of the fastest growing digital banks in the world. Anson Parker, head of product