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Non-major banks join open banking regime
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Neobank Up joins Open Banking platform Frollo
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Mortgage Business
Bendigo’s Up joins open banking platform By Sarah Simpkins 23 June 2021
Fintech Frollo has added neobank Up to its open banking platform, with more consumer data holders expected to follow in the coming weeks.
Bendigo and Adelaide Bank’s digital subsidiary Up is the seventh data holder (an entity holding consumer data, rather than a data recipient) to join the Frollo platform.
The move will allow users of Frollo’s budget management app to connect their banking accounts with Up.
The Frollo app shows users their financial products, including bank accounts, loans, credit cards, investments and superannuation in one interface.
TrailBlazer joins SME Recovery Loan Scheme panel
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The non-bank lender has become the 19th member of the government’s SME Recovery Loan Scheme.
TrailBlazer Finance, a boutique lender offering business loans, valuations, and M&A advice and execution to financial intermediaries, has joined the lender panel for the government’s SME Recovery Loan Scheme.
The government initiative extends the Coronavirus Small-to-Medium Enterprises (SME) Loan Guarantee Scheme to cover not only businesses that were receiving the JobKeeper payment between 4 January 2021 and 28 March 2021, but also those in eligible local government areas impacted by the floods in NSW and Queensland in March.
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