Making Banking Faster, Fairer and more Flexible
Alex Bank is building Australians a better banking experience, that’s simple, easy to use and understand.
Alex Bank is about getting a share of the fast-growing Australian consumer finance market and outdoing traditional banking rivals with its technology and credit process.
The bank’s targeting profitability (on a month-by-month basis) by late next year and wants to hit both A$1B in deposits and loans in 2024. Its initial target – Australia’s consumer finance market – was said to be worth A$142B in lending assets (personal loans, credit cards, car loans, lines of credit) with an anticipated A$25B of new products or loans (including switching) in the coming 12 months.
- As of July 2021, Alex Bank is operating under a restricted banking licence. In other words, is officially a bank
- 100% digital with fast technology and digital processes
- Highly experienced team based in Sydney and Brisbane working to provide faster, fairer and more flexible banking solutions
- Alex is Australia’s most awarded new bank, having received seven awards including a Canstar 5-Star Rating, and Money Magazine’s “Non-Bank Personal Lender of the Year” award.
- September 16, 2021 – Alex Bank raised over A$20M in Series C funding with an estimated valuation of more than $120M
- Findex, Clinton Capital Partners, Washington H. Soul Pattinson, Regal Funds Management, Wunala Capital, and SG Hiscock and Company
Why Alex Bank?