For many Australian financial institutions, their core banking system is, as the name implies, central to their operations. For ‘neobank’ 86 400, however, it’s “just a ledger,” according to CEO Robert Bell. “It's not where the smarts happen.”
86 400 - News, Features, and Slideshows
Mobile-first ‘neobank’ 86 400 expects to have its iOS and Android apps available within a matter of weeks, after the Australian Prudential Regulation Authority (APRA) granted it a full banking licence.
The Australian Prudential Regulation Authority (APRA) has today granted ‘challenger bank’ Volt a licence to operate as an authorised deposit-taking institution (ADI).