Nab Trends & Statistics
Revolut’s overseas expansion overlaps with big incumbents’ retrenchment and refocus on their core
The UK-based neobank can now jump into Australian lending and it has acquired an Indian company that offers multicurrency accounts and remittances. But what does it all add up to?
Aspiring neobanks face stricter Australia licensing process after Xinja collapse
The Australian Prudential Regulation Authority (APRA) now requires entrants to offer income-producing products, like loans, and to have an exit plan. This will scare off some neobanks—but those that have launched, or are about to, may benefit.
NAB gains added lending heft from Citigroup’s Australian consumer unit in AUD$1.2B deal
NAB’s Citigroup deal bulks it up further as Afterpay/Square looms: The Australian banking giant’s unsecured loan book will get a big boost from the proposed deal. That and a platform upgrade adds even more heft to NAB in any face-off against Afterpay and Square.
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