Neobank

Digital-only neobanks, offering no-fee accounts, high-speed sign-ups and intuitive user interfaces, are hoping to disrupt the way Australians save and spend their money – by making products people actually like.

It comes only 18 months after Schroders ploughed £9.9m into the firm as part of a big funding round for Revolut, which the asset manager lauded as an “ambitious neobank”, in the summer of 2021.