Alex Bank officially joins the Reserve Bank of Australia’s Reserve Bank Information and Transfer System

Alex Bank have today officially joined the Reserve Bank of Australia’s Reserve Bank Information and Transfer System (RITS), becoming one of only 100 Exchange Settlement Account (ESA) holders in Australia.

Becoming an ESA holder strengthens Alex Bank’s infrastructure and marks a significant step in their evolution as a full-service digital bank, offering Australians a simple suite of banking products that deliver on the Alex Bank promise of fast, fair, and flexible.

Importantly, this milestone gives Alex Bank direct access to real-time gross settlements, enhancing financial stability, liquidity management, and an ability to optimise capital. It also unlocks opportunities for new and innovative payment capabilities, ensuring the company can continue delivering better solutions for their customers and partners, now and into the future.

Alex Bank CEO Simon Beitz (pictured) said, “To many outside the banking industry, this might all sound like boring banking stuff, but for Alex.Bank it’s a catalyst for our future growth.

“This would not have been possible without the hard work and vision of our dedicated team.

“I’m incredibly proud of what we’ve built at Alex.Bank and I am looking forward to what’s ahead in this next chapter.”