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Westpac flags more fintech deals after SocietyOne tie-up – Sydney Morning Herald

Westpac’s deal with low-cost lender SocietyOne is the second with the fintech industry in five months, giving start-ups access to banking services in exchange for…

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A senior Westpac executive says the big four bank wants to partner with more fintechs to grow its customer base and fortify its balance sheet, after announcing its second deal in five months with the start-up sector.
Westpac announced on Tuesday it would partner with low-cost lender SocietyOne by sharing its banking licence in exchange for access to the eight-year-old fintechs 75,000 customers and $1 billion loan book. The two parties plan to develop a mortgage product in the future, as Westpac…

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