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Alex Bank hires for growth

Alex Bank, which received a restricted banking licence from APRA in July 2021 has been pushing ahead with its growth plan, on the back of a A$20 million capital raising in September 2021 – primarily by scaling its risk-based personal loan product. 

The bank said that, to date, it has settled over $25 million in loans, undertaken a limited launch of deposits and signed up its first major broker aggregator partnership with Platform Finance. 

Alex has also announced two executive appointments. Jeff Nel, formerly head of core technology service at Judo Bank, will be Alex’s new chief operating officer. Sascha Hunt, previously head of brand and marketing at Aussie, will be chief growth officer.

Alex Bank’s CFO and co-founder, Craig Fenwick, said the bank would be working towards a full banking licence in 2022.

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