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Aussie fintech Volt Bank starts by asking consumers what they want

via ZDNet

In January, the Australian Prudential Regulation Authority (APRA) gave fintech startup Volt Bank a licence to operate without restrictions as an authorised deposit-taking institution (ADI). The green light was given to the new player following APRA approval in May 2018 to act in the Australian finance market as a Restricted ADI.

The APRA approval gave Volt the title as the first digital startup bank in Australia to receive a banking licence since the early 2000s. Funds up to AU$250,000 deposited into Volt are guaranteed by the Australian government as part of this arrangement. ¬† (more…)

Banks, InspirAsia, Mobile-first banks

April 11, 2019