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
Unifii’s Digital Experience Platform has been selected by SME challenger bank Judo Bank to enable face-to-face relationship banking that it says will shake up Australia’s banking status quo. The Unifii platform, delivered “as-a-service”, allows Judo Bank to replace multiple technology stacks with a single, APRA-approved cloud platform, the company said.
Judo Capital is now Judo Bank, after it was today awarded its full banking licence from APRA. The banking watchdog said it has granted Judo Bank a licence to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959. Sign up for Which-50’s Irregular Insights newsletter
One year on since the Australian Military Bank overhauled its digital systems, mobile transactions have risen 250 per cent. Australian Military Bank (AMB) is a member-based financial institution serving Australian Defence personnel and their families since 1959. In order to best serve its members — who are predominantly young and
Australia’s banking leaders will likely make the same mistakes as their UK peers despite their studied self-assurance. That’s our key take away from listening to Steve Weston, CEO of Volt, the first company to be issued with a retail banking license since the early 2000s. Volt is part of the
Australia’s newest bank, Volt Bank, and wealth management platform, Spitfire, have formed a technology alliance that the two companies say will set a new standard for banking and wealth management integration. Under the agreement, the Spitfire platform will manage Volt’s soon-to-be-launched deposit products, further cementing its position as a ‘one
Volt Bank has today become the first of Australia’s neobanks to be granted its authorised deposit-taking institution (ADI) licence from APRA. It’s the first retail challenger bank to receive an ADI licence since the early 2000s and comes eight months after Volt was granted its restricted banking licence, a pathway
Xinja is the latest Australian neobank to obtain its restricted banking licence from the Australian Prudential Regulation Authority (APRA). APRA today announced it has granted Xinja a restricted authorised deposit-taking institution licence (RADI). Introduced in May this year, the new category of licence means Xinja can call itself a bank
Aspiring digital bank Xinja has selected SAP Cloud for Banking to power its mobile banking application and aid its ambition to become one of Australia’s first independent start-up neobanks. The Australian fintech is building a bank designed entirely for mobile and recently applied for a restricted banking licence from the