Fintech

Xinja cuts the cap for paying interest on its Stash account once again to just $50,000

- November 17, 2020 2 MIN READ

Less than a year after “Australia’s best savings account”, the high interest rate on Xinja’s Stash savings account appears to be a millstone around the neobank’s neck, with the fintech slashing the interest-bearing cap by two-thirds to just $50,000 on any deposits. With the launch of Xinja US share trading platform Dabble now delayed indefinitely,… Read more »

Fintech

Fintech Douugh’s reverse listing hits the ASX today

- October 6, 2020 2 MIN READ

Financial platform Douugh makes its ASX debut in a reverse takeover of suspended telco Ziptel. The former Ziptel will be resinstated for trading as Douugh (ASX:DOU) when the market opens for trading at 10am today. Financial reports lodged with the ASX ahead of the relisting reveal that Douugh lost $1.29 million in FY2020, down from… Read more »

News & Analysis

Neobank 86 400 is getting into the energy comparison business

- January 14, 2020 2 MIN READ

86 400 Chairman Anthony Thomson and CEO Robert Bell Digital bank 86 400’s fourth product since launching last last September is somewhat unexpected for a financial institution – an electricity analysis and switching service. Announcing Energy Switch today CEO Robert Bell said “Energy Switch service delivers on our purpose to help Australians take control of… Read more »

News & Analysis

App-based startup 86 400 is looking for $250 million as it prepares to become Australia’s newest bank

- May 9, 2019 2 MIN READ

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 »