SYDNEY: Australia granted a new banking licence to online-only banking firm Xinja Bank, allowing the startup to compete against the country’s “Four Big” lenders that dominate the sector.
The licence from the financial regulator allows the primarily mobile financial company to compete for deposits and use the funds to lend.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
