Volt Bank signs PayPal deal to tackle customer inertia
Start-up Volt Bank hopes to tackle customer inertia in the banking sector by partnering with global payment giant PayPal to make the sign-up process easier. Under the deal, which is PayPal’s first partnership with an Australian company, Volt Bank will be able to tap into PayPal’s 7.2 million active user base in Australia to sign up customers using their PayPal account. This means PayPal customers will be able to use their existing personal data to skip a couple of steps when signing up to become a Volt Bank customer. The deal also means when Volt Bank issues debit and credit cards to customers they will be automatically linked to PayPal, meaning customers don’t […]
Verrency signs long-term innovation services deal with volt bank
Australian global payments innovation provider Verrency has signed a significant long-term deal with volt bank, Australia’s first independent 100% digital bank. The multi-year agreement enables volt bank to leverage Verrency’s cloud-based payments innovation platform and services marketplace to enable cost-effective delivery of a multitude of value-added services to its customers. The agreement comes on the back of Verrency being named FinTech Australia’s winner of the 2018 Excellence in Establishing a Global Market Presence. David Link, Founder and CEO, Verrency, said: “Verrency will enable volt bank to rapidly and cost-effectively deliver value-added services to Australian consumers – including via easy connection with multiple service providers – without requiring significant change in their […]
Three disruptive forces driving Aussie neobanks like volt, as fintech startups get serious
There are hundreds of fintechs offering financial services, from budgeting tools to financial advice to loans, but it wasn’t until last week that a start-up was authorised in Australia to offer the product sitting at the heart of banking – deposits. In a significant milestone for the local fintech scene, the Australian Prudential Regulation Authority said last week volt bank would become the first recipient of a “restricted license” under its new regime, created after the federal government indicated it wants to see more competition in banking. In the UK, more than 30 “challenger” banks have been approved by its equivalent regulator since the licensing regime changed there in 2014. […]
APRA grants first local digital licence to volt bank
The prudential regulator has signed off on Australia’s first-ever digital bank under a restricted licensing regime that aims to bolster industry competition. The Australian Financial Review revealed that Sydney-based volt bank had been granted a licence by the Australian Prudential Regulation Authority early on Monday. APRA later confirmed that volt bank was authorised as a restricted authorised deposit-taking institution (RADI), while non-operating holding company volt Corporation Limited was also approved under the Banking Act 1959. Volt bank is led by former Barclays and National Australia Bank executive Steve Weston which he co-founded with former colleague Luke Bunbury. To date, volt has raised $15.7 million in equity capital via three funding […]
The FinTech Report Podcast: Episode 29: Interview with Cameron Dart, Australian FinTech
The Fintech Report Podcast: Episode 29; Cameron Dart, CEO & Founder, Australian FinTech
Multi-award-winning fintech Adatree successfully closes second funding round
Multi-award-winning Australian fintech company Adatree has successfully closed a second funding round.
Adatree launches Open Data marketplace, Adatree Exchange
Adatree Exchange has launched, streamlining how organisations discover and procure regulated CDR-ready, third-party software capabilities.
Rush Gold expands Advisory Board with appointment of Luke Collins
Rush Gold, Australia’s award-winning fintech app and platform, is thrilled to announce the appointment of Luke Collins to the Rush Gold Advisory Board.
