Volt has become the first Australian digital bank to secure a full unrestricted banking licence and is aiming to capitalise on distrust of the big lenders.
Volt has become the first Australian digital bank to secure a full unrestricted banking licence in a move that allows it to more comprehensively challenge incumbents including the big four lenders.
The Australian Prudential Regulation Authority on Tuesday said it had granted Volt its licence to operate as an authorised deposit-taking institution (ADI) without restrictions.
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