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413

New bank in town: Xinja the latest ‘neobank’ to get its full licence

Via The Sydney Morning Herald

Xinja, the latest “neobank” to be given a full banking licence in Australia, is looking to raise more than $50 million from big investors as part of its plan to disrupt the lucrative retail banking sector. In a key milestone that allows the bank to take deposits from the public, Xinja was on Monday granted an unrestricted licence from the Australian Prudential Regulation Authority (APRA). (more…)

Banks, InspirAsia

September 9, 2019

1677

FrankieFinancial signs Australian neo banks to RegTech platform

via Finextra

RegTech startup FrankieFinancial has signed Australian neo banks Xinja and Novatti Group to its financial systems aggregator platform, which provides a single point of access to ID verification, KYC, AML, fraud and credit tools from 114 vendors and data sources. (more…)

Banks, Fintech news, InspirAsia, Mobile-first banks, RegTech, Security

May 15, 2019

1050

Digital futurist Brett King on why credit cards will disappear

via The Australian Financial Review

Mr King, an adviser to local neo-bank Xinja, worries that traditional banks’ conservative cultures have created an “iterative” – or incremental – approach to making money that has put them years behind rapidly emerging digital disrupters famous for their willingness to take risks and break through.

“Banks can survive but have to become part of this new ecosystem,” said Mr King, who is based in Manhattan and visiting Australia. (more…)

Banks, People of fintech

March 18, 2019