86 400 goes live
Following the granting of its full bank licence last month, 86 400 has gone live with its business with plans to launch home loans in the coming months.
Its app is now available to download offering tow accounts – Pay and Save and zero monthly fees.
Customers won’t need to switch bank accounts to use the 86 400 app, with the technology allowing users to connect and view their existing bank accounts – plus credit cards and home loans, all within the app.
Customers will also be able to see all their bank accounts in one place – not just 86 400 accounts.
Other features include alerting customers to upcoming bills, subscriptions and direct debits so that they don’t get hit by late fees.
It’s a feature that was recently rolled out in the Commonwealth Bank’s latest overhaul of its digital app.
“Managing your money shouldn’t be so hard, but the simple fact is that staying on top of your finances has become too complex, leaving many Australians feeling anxious, stressed and frustrated,” 86 400 CEO Robert Bell said.
“Today, we’ve launched a bank which uses smart technology to show customers what’s actually going on with their money, so they feel in control every second of every day. All eighty-six four hundred of them.”
86 400’s product rollout follows the recent announcement of Xinja being granted a full bank licence. There are now four neobanks in the Australian landscape including Volt Bank and Judo Bank.