Digital-only banks, known as ‘neo banks’ are shaking up the industry, and one of the major players has just hit a new milestone.
Digital bank Up just has just reached one million customers, attracting Aussies not just with better deals, but with tools to help them build a healthier relationship with their money.
The bank is targeting milennials like 23-year-old content producer Matilda Christie, with digital-first, highly personalised simple tech-enabled banking services.
“The language and even the visuals they use is really relatable to Gen X in that it makes it a lot more approachable,” Christie said.
Up, which operates in partnership with Adelaide and Bendigo Bank is just one of several players in the neo-space.
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