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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. ....

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