Australian fintech Alex secures banking licence from APRA
It’s the first licence to be handed out by APRA in 18 months.
It’s the first licence to be handed out by APRA in 18 months.
The APRA’s consultation closes at the end of April.
APRA will consult the industry on the development of the framework in H2 2020.
There will be “deep dive” reviews if firms don’t deliver.
It is the country’s first independent neobank to receive a full licence and open accounts.
The Australian regulator has given the bank a restricted authorised deposit-taking institution licence.
Where there’s a reform, there’s an opportunity.
On 16 January 2017, the Australian Prudential Regulatory Authority (APRA) released for public consultation its Economic and Financial Statistics (EFS) Form Review. Notably, this consultation package represents a major overhaul of many of the financial and statistical returns currently prepared by the Australian authorised deposit-taking institutions (ADIs) as well as introducing a new set of returns to be submitted. We examine what’s at stake.