Fintech Wise has surpassed more than one million active users in Australia, across both business and personal customers, which has been driven by strong adoption of the Wise Account and Wise Business.
Australian household deposits for Wise at the end of July were $887 million and have more than doubled in a year the latest monthly APRA data shows.
Deposits from business were $211 million, a rise of 60 per cent in a year.
This makes Wise the fastest growing bank in Australia.
Over the last year Wise connected directly to the New Payments Platform, the first fintech invited to do so.
Wise also handles Swift payments in more 13 currencies, including AUD, NZD, SGD and JPY.
Recently Wise removed the fee to hold amounts above A$23,000.