Aussie neobank Xinja crumbles under unfeasible interest rates
The neobank landed a full banking licence last year.
The neobank landed a full banking licence last year.
Dabble will also offer users fractional shares.
The interest rate caused it to hit AUD 100 million in deposits after just 19 days.
Xinja will receive the bulk of the investment over 24 months.
The challenger is offering a minimum investment of AUD 20,400 ($14,000).
The challenger expected to do $120 million in deposits in a year.
ANZ, Westpac, NAB and Commonwealth Bank have lost a collective half a billion dollars.
It is the country’s first independent neobank to receive a full licence and open accounts.
Aims to solve $4 billion legacy systems overhead problem.
Half a million in under nine hours.
Over the course of 2018, we’ve interviewed a range of industry specialists on a variety of fintech subjects.
The Australian regulator has given the bank a restricted authorised deposit-taking institution licence.
Potential investors can register now.
After a “rapid” three-month implementation.
Australian challenger seeking that fully digital loan process.
Challenger is edging closer to restricted banking licence.
European challengers, the flaws of the big four, and how his father-in-law inspired him.
All encompassing. Right place, bright time.
Stars Canopy, Spring Labs, Equitise and Xinja.
“This isn’t a finished product, it’s a step in our journey with our customers.”
Plans for its mobile-only bank in Australia are edging forward.
Features Ladder, Petal, Fisco, Equitise and Xinja.
A busy year for fintech start-ups, but take a trip down memory lane with Banking Technology’s top ten.
A short time ago, in a round-up near here (i.e. 18 August) we covered the lively world of fintech funding. Yet again, we have more cash action. Featuring Xinja, Capital Float and Prodigy Finance. Australia-based Xinja, which recently emerged from the shadows to unveil its plans for a mobile-only digital bank, is in the news […]
Australia-based Xinja has emerged from the shadows to unveil its plans for a mobile-only digital bank. Xinja has raised in excess of AU$2 million ($1.5 million) in its first-round funding to launch a pre-paid debit card as a precursor to establishing Australia’s first fully digital, independent “neobank” built for mobile. The bank will have no […]