Financial institutions / Big five & fintech (2,248 items)

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Volt aims to short-circuit funding restrictions

Volt Bank, a fintech start-up that was granted a restricted banking licence in May, will need to have raised A$1.5 billion capital in eight years to become fully operational. It is confident it will generate at least one-third of this – that is, $100 million per year for five years – from its own retained earnings. read more

Cornered Australian finance sector faces Hayne salvo

Asking the right questions but rarely answering them, Kenneth Hayne's interim report for his royal commission is a blend of populist scorn for, mixed with a sturdy defence of, a rattled banking industry. read more

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