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DayTek Capital

“Can an Australian challenger with an AFSL translate a prepaid-card foothold into a full digital bank license and compete against the Big Four?”

HQQueensland, Australia
IndustryFintech / Neobank

The story

DayTek Capital is an Australian fintech based in Queensland that initially offered a prepaid card service and was awarded an Australian Financial Services License in 2020. The company announced plans to launch a digital bank called 'Infinity' and intended to pursue a Restricted Authorised Deposit-Taking Institution (RADI) license from APRA to compete with the Big Four banks and other neobanks like Xinja, Volt, and 86 400. Public evidence of subsequent progress or a live banking product is thin.

Last 12 months

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Product timeline

2020

DayTek Capital awarded Australian Financial Services License; initially offered a prepaid card service and announced plans to launch digital bank 'Infinity'.· banking

Regulated entities

regulatory licence held by DayTek Capital

Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.

The stack

0 layers disclosed in DayTek Capital’s embedded-finance stack

Accounting gap: none

DayTek Capital — frequently asked

Where is DayTek Capital headquartered?

DayTek Capital is headquartered in Queensland, Australia.

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