Neobank 86 400 marked the first anniversary of the granting of its banking licence this week, issuing an update that highlighted a few milestones and sketched out its strategy for the year ahead.
The bank has 225,000 accounts and says it will reach 500,000 by the end of this financial year.
It has more than A$300 million in customer deposits and has processed $1 billion in transactions, with 650,000 transactions and balance updates each day.
The value of its home loan book is $40 million (in settled loans and loans awaiting settlement).
It sends 33,000 upcoming bill alerts each day – part of its personal financial manager app.
It has incorporated PayID and integrated with Zip Pay and Zip Money
The bank says that by the end of this month it will add scheduled and recurring payments to its transaction banking service – completing its “everyday banking” features.
Over the next few months it will add features to its PFM, “delivering further insights into individual spending and savings patterns.”