Volt Bank is an Australian consumer neobank, and was the first such bank to be issued with a restricted ADI licence by APRA.[2][3]
Headquartered in Sydney, Australia, the bank was founded in 2017 and was granted a full licence to operate as an authorised deposit-taking institution (ADI) on 21 January 2019. Volt uses BSB 517000.[4][5][6]
Business
Volt’s banking platform is located in the cloud using the Temenos T24 core banking, Financial Crime Mitigation and Analytics, Salesforce and Microsoft Azure.[7][8]
Volt Bank also has industry partnerships with PayPal, Cotton On and Collection House.[9][10][11]
The bank publishes a mobile app, Volt Labs App, through which customers hold discussions and give feedback on the bank’s products and services. The bank is planning to begin serving small businesses in 2020.[12]
History
The banking regulator, APRA, created the restricted ADI (RADI)[13] licensing framework to encourage new entrants and competition to the existing banking system.[14]
Volt Bank was issued with a RADI licence on 7 May 2018, the first organisation to obtain one under the new licensing framework.[15][16] In doing so, it became the first completely new institution to be licensed as retail bank in the Australian market since Australian Bank in February 1981.[17][18][19]
https://en.wikipedia.org/wiki/Volt_Bank