Judo Bank co-founder and co-CEO Joseph Healy. Banks are neglecting the lending needs of small businesses and startups, with an estimated $120 billion in unmet need outstanding, according to Judo Bank chief executive Joseph Healy. A submission from Healy, on behalf of the SME-focused neobank, to the Senate Committee on Australia as a Technology and Financial Centre, suggested a failure of the big banks to meet the requirements of the small business community. It called out a “significant and unhealthy bias” towards mortgage lending, while SMEs and startups struggle to secure loan funding. “The genesis of Judo was a belief that there was a market failure in the provision of credit to the SME economy by the banking system,” Healy said in the submission.