
So, you’re interested in forming a bank in Australia?
Is it just us or is having your own digital bank the new must-have item at the moment? The announcement by APRA late last week that it had signed off on Australia’s first ever digital bank under a restricted licensing regime came as no surprise to those who have been monitoring the debate around how to increase competition in the banking sector. You can read more about the restricted banking licence granted by APRA last week to Volt Bank Limited application by accessing our previous coverage on it - click here to view. So, if owning your own bank is the next-big-thing, in the world of fintech, how does one go about getting a piece of the banking pie for themselves? Today we will take a closer look at forming…