A new challenger bank is hitting Australia

This story was delivered to Business Insider Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.

A new neobank called 86 400, which will be backed by payment services provider Cuscal, is approaching launch in Australia, according to Business Insider Australia. 86 400, which will be one of Australia’s first challenger banks, has been in development for 18 months and plans to enter beta later this year, with a full public launch of an app-based transaction and savings account in early 2019.

BI IntelligenceSee the rest of the story at Business Insider

See Also:

• Andreessen Horowitz just launched a crypto fund
• Monzo adds TransferWise to its app
• BNP Paribas is expanding its SMB lending business