Australia has a new bank, with fintech Alex granted a restricted authorised deposit-taking institution (Restricted ADI) licence from the Australian Prudential Regulation Authority (APRA). The digital bank has already been busy lending, writing more than $8 million in personal loans since it was founded in 2018. The neobank has already raised more than $35 million… Read more »
Neobank Xinja has been granted a full banking license by Australian Prudential Regulation Authority (APRA), and will launch transaction accounts as the battle to carve out a digital slice of the $13 billion banking system’s revenue stream heats up. APRA has now granted four authorised deposit-taking institution (ADI) licences to challenger banks, having recently approved… Read more »
App-based startup 86 400 is looking for $250 million as it prepares to become Australia’s newest bank
86 400 is a new digital-only bank led by British entrepreneur Anthony Thomson It’s backed by Sydney-based payments services company Cuscal The bank is waiting for APRA approval to launch with a savings account this year It’s seeking $250m over the next three years to strengthen its balance sheet Digital banking startup 86 400 (named… Read more »
Digital bank Xinja has today received a restricted banking licence from the Australian Prudential Regulation Authority (APRA).
APRA has authorised fintech Volt as a restricted authorised deposit-taking institution, making Volt the first of the digital banks to secure the licence.
Smartpay is a payments company which offers its own open payments service API and physical EFTPOS devices to merchants and retailers.