Neobank Volt has become a victim of tightening investment market announcing it will shut down after struggling to raise capital. The online-only retail bank was the first challenger brand to receive a new banking licence in 2019. A statement posted on its website today announced it is closings all deposit accounts and will hand its… Read more »
Neobank Xinja Bank has broken its own equity crowdfunding record, raising just under $2.59 million from over 1,500 investors in its second campaign.
The battle of the digital banks is on, with new offering Up launching today as volt bank announces a partnership with PayPal.
APRA has authorised fintech Volt as a restricted authorised deposit-taking institution, making Volt the first of the digital banks to secure the licence.