Bene working up to be a challenger bank in Australia

Bene is a new lender in Australia that is working towards building a neo-bank.

At the moment, Bene says it is not a bank or an authorised deposit-taking institution (ADI), and is not authorised by the Australian Prudential Regulation Authority (APRA) to conduct banking business in Australia.

However, the firm intends to apply for authorisation to conduct banking business in Australia, initially for a limited period with specific requirements and restrictions as a restricted ADI.

The firm says it is “driven by smart, simple design” on its mobile platform.

According to its site, Bene offers loans from AU$2,000 to AU$30,000.

To read more, please click on the link below….
Source: Bene working up to be a challenger bank in Australia