2018 marked the year when Australia’s first neobank got its licence to operate. At the time of writing, there were half a dozen more waiting in the wings for their licence.
Neobanks are digital only banks that are driven by modern tech and a consumer-first philosophy. They have a strong focus on user experience and aim to reduce and eliminate the friction that has become part of the banking experience.
I started Neobanks.com.au to document my search for the neobanks that are able to find the (potentially) elusive sweet spot between tech, user experience and banking/personal finance products, so that I can switch my accounts over to them and (hopefully) never have to deal with the pains of “regular” banking ever again.
I worked as a TV journalist for a business news channel covering media, entertainment, personal tech, gaming and startups. That’s when I got interested in personal finance.
I moved on to working as a Product Manager working on fintech apps.
The neobanking industry not only caught my interest for being in the intersection of personal tech and personal finance but also because I’m genuinely hoping it would solve for the ridiculous pain points that exist in dealing with banks and personal finance.
The goal of this site is simple: Can I find the neobank that’s the answer to all our prayers?