Building a Modern Bank in Australia.
Dexter Cousins
Executive Search for high growth Fintech ventures | Host of Fintech Chatter Podcast
In ep140 of Fintech Chatter I catch up with Simon Beitz of Alex.Bank.
Alex.Bank is Australia's newest bank having received its full ADI in December 2022.?
Alex has over 2000 customers, settling close to $50m in personal loans, and has both lending and deposit products in the market – most recently launching a new Term Deposit product.
Simon and I reflect on our first meeting in 2017 and his subsequent journey of taking on the huge challenge of building a bank. I chat to Simon about his experiences in raising capital, dealing with regulators, technology builds and the lessons learned from other neo banks.
Simon also shares his lessons and insights as an entrepreneur.
About Simon
Simon was motivated to start Alex.Bank after noticing a decline in customer experience in consumer and small business lending due to the focus of big banks on mortgages and transaction banking. He believed that consumers deserved a fairer and easier banking experience. With this in mind, Simon co-founded Alex.Bank in 2018 to challenge the status quo.
About Alex.Bank
The aim of Alex.Bank was to provide a humanised banking experience, which Simon achieved by eliminating complicated paperwork, jargon, and unnecessary fees. He and his co-founder,?Craig Fenwick?decided to give the bank a human name to bring back the ‘human-touch’ to banking.
Find out more https://www.alex.bank/
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