The Australian Prudential Regulation Authority (APRA) granted the bank a licence to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959.
It was previously licensed by APRA in May 2018 as a restricted ADI. Under the terms of that restriction it could accept no more than USD 178,000 in a single deposit, and a maximum of USD 1.4 million in total deposits.
Volt now plans to roll out savings and transactions accounts, term deposits, personal loans, and home loans.
Back in December 2018, Volt went live with Temenos’ T24 core banking system, financial crime mitigation and analytics on the cloud.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright