Xinja – a bank built for mobile and with no branches - says Pountain is helping build the business with technology that will “change banking for Australians, who never want to walk into a bank branch or join a bank queue”.

“Our customers have told us that, as millennials, they do everything differently to their parents, except banking,” said Xinja Bank chief executive officer and founder Eric Wilson.

“Our technology – and more importantly our overall customer experience - is changing that. It is about ensuring we deliver the best possible banking to our customers, and that our systems are robust, secure and minimise friction.”

“The technology Xinja has deployed will provide great flexibility. We’re using world class, cloud-based solutions.

“The platform we’ve built and our overall architectural design will allow us to focus on delivering additional value to customers. Banking is a very profitable industry with very low levels of consumer satisfaction.

“Technology, data and the right framework, including ethical behaviour, offer an alternative.”

Xinja has applied to APRA for a full banking licence after raising over $5 million through two rounds of equity crowd funding, and a further $45 million from private investors globally.