Australia: Aussie start-up to offer “bank-account-on-steroids”

Mosaic, an Australian fintech company, has announced plans to meld investment, transaction, and savings accounts into one product that will offer consumers a “bank account on steroids.”

According to Mosaic co-founder and CTO, Matt Jones, the product will give consumers a better return on investments in comparison to the rates offered by other institutions, allowing them to invest in any asset class or be risk profiled.

According to Mosaic co-founder and CTO, Matt Jones, the product will give consumers a better return on investments in comparison to the rates offered by other institutions, allowing them to invest in any asset class or be risk profiled. Users are charged a small fee to use the platform and after linking their transaction, savings and investment accounts, users have their spending patterns analysed. The Mosaic platform will then assign an asset allocation, which can be changed at any time. An investment structure is then recommended to the user based on their needs and risk profile. Users can also create their own structure.

“We’ve had incredible feedback so far with the Mosaic beta waitlist tripling in size in less than a week. We are deep in the production phase and are aiming to begin consumer trials at the backend of the year,” said Co-Founder Sam Nixon.

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