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False promises and the story of Xinja s decision to exit banking
False promises and the story of Xinja s decision to exit banking
Xinja burst onto the scene three years ago promising to shake up the banking industry. But now it s exiting banking, so what went wrong?
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Eighteen months before fallen neobank Xinja froze its customers’ bank accounts and returned its banking licence, it moved into a flash new office on Sydney’s King Street.
The iconic building was once home to Facebook’s headquarters, and former employees say Xinja’s founders wanted to project the company’s image as being on par with the world’s largest technology companies.
Eight such banks started this year and as of November had taken more than $1 billion in deposits and attracted nearly 300,000 customers., , hong kong, share, savings accounts, transfer services
Hong Kong’s new online-only banks plan to venture into business lending and wealth management, seeking more lucrative avenues beyond basic savings accounts and transfer services, senior executives said.