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Australian challenger bank Xinja Bank has collected a AUS $433m ($258m) from Emirates’ World Investments.
If everything goes according to plan, then Australia will introduce open banking in July. The founder of neobank 86 400 cannot wait, but believes the benefits will take some time to manifest.
Amsterdam-based Backbase is going global. Having already opened a new office in Dubai in October, the banking software provider is strengthening its grip of the Asia Pacific (APAC) market.
Joust Labs, a US challenger bank focused on freelancers and entrepreneurs, has closed its seed round on $2.6m.
Australians just got more banking options with 86 400 getting a licence to operate as an authorized deposit-taking institution in the country. In other words, it now has permission to operate as a bank in Oz.