Mortgage Business
Volt to power credit decisioning for AFG Securities
By Annie Kane
07 June 2021
The neobank has entered into a strategic alliance with aggregation group AFG, which will see the fintech deliver its digital banking services and tech platform to help power AFG Securities’ credit decisioning.
Volt Bank (Volt) – which became the first neobank to be granted a restricted ADI licence in 2018 before gaining its full licence – has entered into a strategic alliance with aggregator Australian Finance Group (AFG).
The deal includes a $15-million investment from AFG into Volt, providing AFG with a 7.6 per cent shareholding in Volt Corp Ltd (based on Volt’s current series raising amount of $85 million).