The Aussie digital bank teams up with Railsbank to embark on Banking-as-a-Service business.
Despite the funding decline, payment companies continue to drive investments, says S&P GMI.
Digital-only banks are being announced or launched across the region.
Australians have a track record of disappointing disrupters.
All-digital retail banks are set to challenge the big-four oligopoly in Australia—which has plans of its own.