Competitor watch — NZ, Australia & globalhighUpdate
[UPDATE] Revolut secures Australian banking licence, launches business savings at 4.25%
Neobank expansion
Revolut has been granted an Authorised Deposit-taking Institution licence by APRA — becoming Revolut Bank Australia — and has launched government-backed deposit accounts and business savings paying up to 4.25%, backed by its previously announced A$400m investment plan.
Why it matters — The licence turns Revolut from a challenger app into a fully-fledged deposit-taker in Australia just as it awaits its own registered-bank decision from the RBNZ — a green light across the Tasman raises the stakes for how NZ's four major banks respond.
Competitor watch — NZ, Australia & globalhighUpdate
[UPDATE] Revolut pumps A$400m into Australia and eyes a New Zealand registered-bank licence
Neobank expansion · Australian rollout began 21 July 2026
Following last week's Australian banking licence launch, Revolut has detailed plans to invest A$400 million in Australia over five years and confirmed it is awaiting a decision on its application to become a registered bank in New Zealand, which its Australia/NZ chief called 'prime ground' for expansion. Australian transaction volumes are up 235% year-on-year with the customer base past 1.2 million.
Why it matters — A capitalised, licensed Revolut entering New Zealand as a registered bank — rather than as a card app — would be the most direct new-entrant threat to the big five's retail deposit and transaction-account base since Kiwibank.
Revolut secures full Australian banking licence, launches Revolut Bank Australia
Neobank expansion · APRA licence granted 21 July 2026
APRA has granted Revolut Payments Australia a full Authorised Deposit-taking Institution licence — the first time a global fintech has received one — letting the newly launched Revolut Bank Australia offer government-guaranteed deposits and lending to its 1.2 million-plus Australian customers, backed by a five-year, roughly A$400 million investment plan.
Why it matters — Revolut is still awaiting RBNZ registration as a bank in New Zealand; a successful, well-capitalised Australian banking entity strengthens its case and raises the competitive stakes for NZ’s big four and Kiwibank once it clears that bar.
Competitor watch — NZ, Australia & globalmediumUpdate
[UPDATE] Revolut readies NZ business accounts, extending its Wise rivalry into SME banking
Neobank expansion · Announced March 2026; launch expected in coming months
Building on its personal-account push covered yesterday, Revolut is preparing to open small-business accounts with real-time analytics in New Zealand, extending its head-to-head competition with Wise from personal customers into SME banking.
Why it matters — SME banking carries thicker margins than personal transaction accounts; if Revolut executes here, incumbent business-banking franchises at the big five face a second front of neobank competition rather than one contained to personal accounts.