Hay will incorporate Mambu’s API-first, core banking platform into its custom-built technology ecosystem.
Hay, which in February 2020 released a fee-free digital transaction account, is building a digital infrastructure to provide Australians with a new mobile-first money solution.
The company is awaiting approval of its application for a Restricted Authorised Deposit-taking Institute (RADI) licence, which will open the gate for Hay to begin operating as a fully-fledged neobank.
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