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Alex Bank to give Keynote at 10th Annual FinTech Summit

Alex Bank founder Simon Beitz will deliver the opening keynote at October's FinTech Summit in Sydney; the piece recaps the neobank's licence, products and growth since launch.

Investment notes: Athena AU$25m Series B

Square Peg explains its rationale for leading Athena's Series B, joined by Hostplus and Airtree, with analysis of the Australian mortgage market, the challenger lender's model, and its founding and senior team.

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Your 90-second guide to the day in tech

Roundup covering Deliveroo's cut IPO price range, ACCC clearance for NAB's purchase of neobank 86 400, Compass Education acquiring Momentum ESR, Victorian government funding for Startmate, and NSW's digital lost property system launch.

86 400 to become part of the NAB family for $220 million

Digital bank 86 400 has proposed combining with UBank under NAB, which would acquire remaining shares for up to about $220 million, pending shareholder, court and regulatory approvals.

Australian fintech Avenue announces new CEO to boost launch of challenger SME bank

Neobank 86 400 to be acquired by NAB in $220 million deal

NAB is buying neobank 86 400 for roughly $220 million, folding it into UBank, shortly after rival Xinja said it would quit banking, leaving fewer independent Australian neobanks standing.

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Auckland chatbot startup Ambit raises NZ$1.75 million

New Zealand chatbot platform Ambit has raised NZ$1.75 million from Lewis Holdings and K1W1 to grow into Australia and the US. The piece also covers UBank's new AI assistant Mia, built with FaceMe.