(22 January 2019 – Australia) Volt Bank has become the first digital challenger bank in Australia to obtain a full banking licence, paving the way for their entrance into the SME business banking sector next year.
Co-founder Steve Weston said: “Against the backdrop of systematic failures and breaches of trust by incumbent banks, our mission is simple; to empower people and make financial services easier. It’s about giving Australians a fundamentally different banking experience, one that is honest and fair.”
Volt is one of a number of challenger banks seeking a full banking licence this year along with Judo and 86 400.