APRA has granted In1Bank a second extension of its licence to operate as a restricted authorised deposit-taking institution. APRA granted what it called a “further short extension”, given “the unique circumstances of In1Bank’s application”. It did not elaborate. In1Bank describes itself as Australia’s “first bilingual digital mobile 24/7 banking service” catering to the Chinese-speaking community. It was first granted a restricted licence in 2019. Earlypay chief executive Daniel Riley has announced his retirement after 20 years with the company, 12 of them as CEO. Riley will step down after the November annual general meeting but will continue as a non-executive director. The company’s chief operating officer James Beeson will move into the top job. Beeson has been at the invoice finance company since 2020, when Earlypay acquired finance technology company Skippr, where Beeson was CEO. Beeson’s earlier career included senior roles at JP Morgan and Citi.