Neobank News

Digital upstart immediately launches transaction accounts. Private investor-backed neobank Xinja has wasted no time sticking it to the majors, coming straight out with transaction account availability on Monday – the same day it was officially granted a full unrestricted banking license by the Australian Prudential Regulatory authority.

Australian neobank Xinja has appointed former New York-based neobank Moven executive John Pountain as CTO. Xinja – a bank built for mobile and with no branches – says Pountain is helping build the business with technology that will “change banking for Australians, who never want to walk into a bank branch or join a bank queue”. “Our customers have told us that, as millennials, they do everything differently to their parents, except banking,” said Xinja Bank chief executive officer and founder Eric Wilson.

Australian neobank 86 400 is the latest new entrant to be granted regulatory permission to take deposits, joining the likes of volt…

TrueLayer, provider of financial APIs, has integrated with Revolut to enable the secure access of financial data via open banking. Money management…

Neobanks are fighting for a revenue pool in the order of around $60 billion [..] which could see new revenue pools created…