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
1
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