News & Analysis

New digital banks 86 400 and Xinja are the first to launch app-based retail accounts

- September 10, 2019 3 MIN READ

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 »