Products

EMARKETER delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
PRO+
New data sets, deeper insights, and flexible data visualizations.
Learn More
Reports
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Forecasts
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Charts
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Briefings
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About EMARKETER

Our goal is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how EMARKETER came to be.
Learn More
Methodology
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about EMARKETER.
Contact Us
Newsroom
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Events
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Podcasts
Tune in to EMARKETER's daily, weekly, and monthly podcasts.
Learn More

Alex, the new Australian neobank on the block, launches Temenos collaboration

The news: Australian neobank “Alex” has gone live on Temenos’ software as a service (SaaS) Temenos Banking Cloud. Earlier this month, Alex received its Restricted-Authorized Deposit-Taking Institution (RADI) license from the Australian Prudential Regulation Authority (APRA).

More on this: Currently, Alex’s only offering is personal loans between AUD$2,100 ($1,444.84) and AUD$30,000 ($20,640.52), with repayment periods ranging from six to 60 months.

Temenos’ press release claims that its technology has enabled it to process approximately 10,000 loans in the last six months, and complete each application in three minutes.

Alex plans to roll out a wider range of savings and lending products in the future. Temenos noted that its preconfigured Australia Model Bank methodology will help it do so quickly.

The bigger picture: A recent contraction in the Australian retail neobanking environment forced out two consumer-facing neobanks, leaving space for new entrants.

  • From 2018 to early 2020, four budding neobanks held banking licenses and positioned themselves as alternatives to the country’s incumbents.
  • The pandemic and prevailing economic headwinds eventually forced Xinja to shutter in December, and 86 400 agreed to be acquired by National Australia Bank in February 2021.
  • Two of the original four remain—Volt and Judo—but Volt has pivoted toward banking as a service (BaaS) and mortgage lending, and Judo is SMB-centered.

The result is a dearth of consumer-facing neobanks in Australia—partially by design, as the Australian Prudential Regulatory Authority (APRA) has worked to stiffen its requirements for neobanks seeking full banking licenses. (Alex currently has a restricted license and will need to conduct a limited launch of a deposit product to get a full license.)

The open space gives Alex an opportunity to quickly ramp up its customer base once it begins broadening its offerings. Its primary competition will be Up, whose parent bank, Bendigo and Adelaide Bank, supplies it with licensing.

Another tailwind for Alex is that its first product—loans—are profit driving. One major cause of 86 400’s and Xinja’s downfall was the expensively generous high-yield savings accounts that made their initial splash in the market. A revenue-first approach could set Alex on a path to sustainable long-term growth.