Tuesday, 10 September 2019 08:38

Digital bank 86 400 is now open for business

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Digital bank 86 400 is now open for business Supplied

Australian digital bank 86 400 has opened for business with consumers able to bank from their smartphones and offering a choice of two accounts – Pay and Save.

A statement from the bank said there would be no monthly fees and the technology being used would allow prospective customers to connect and view their existing accounts, credit cards and home loans from within the 86 400 app.

The bank claims to offer easy sign-up, the ability to view all accounts in one place, products that are said to be designed for fairness and alerts for payments that are due in the future.

Chief executive Robert Bell said: “Managing your money shouldn’t be so hard, but the simple fact is that staying on top of your finances has become too complex, leaving many Australians feeling anxious, stressed and frustrated.

"Today, we’ve launched a bank which uses smart technology to show customers what’s actually going on with their money, so they feel in control every second of every day. All eighty-six four hundred of them.”

executive team

The 86 400 executive team (from left): chief risk officer Guy Harding, chief financial officer Belinda Hogan, chief operating officer Matt Chan, general counsel and company secretary Christina Seppelt, chief executive Robert Bell, chief information officer Brian Parker and chief product and marketing officer Travis Tyler. Supplied

There are apps for both iOS and Android which can be downloaded from the Apple and Google stores respectively.

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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