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AFG to invest $15m in neobank
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The aggregation group has agreed to invest $15 million in a neobank, leveraging its banking as a service offering and white labelling a personal finance manager app to AFG customers.
Australian Finance Group (AFG) has partnered with fintech Volt Bank (Volt) to form a strategic alliance and is investing $15 million into the company.
The alliance will leverage Volt’s Banking as a Service (BaaS) offering, by providing digital white labelled mortgage products to AFG’s network of more than 2,975 brokers.
It will also enable Volt’s direct customers who do not fit Volt’s credit criteria to be referred to AFG, with customer consent, for fulfillment by AFG brokers.
Switzer Daily
The walls of the Melbourne headquarters of
Equity Trustees (EQT) are adorned with the portraits of former
prime ministers, premiers and governors-general who have served on the board of
the stately 133 year old institution.
The roll call of dignitaries includes 19
th century
premier Sir Charles Sladen, prime ministers Stanley Bruce and Robert Menzies
and former governor general Ninian Stephen.
In Marc,h former Abbott/Turnbull era Cabinet minister Kelly
O’Dwyer joined the board, filling a seat vacated by former Victorian premier
and Hawthorn Football Club president Jeff Kennett. (Kennett’s great
grandfather, Edward Fanning was a director for 30 years from 1888 to 1917).