“Can a Tasmanian community bank use the Auswide merger and a full digital-banking technology refresh to become a credible eastern-seaboard challenger to Australia's major banks?”
Founded in 2009 as a Tasmanian financial group from the merger of two legacy mutual entities, MyState transitioned from a building-society heritage into a fully licensed bank in 2014. It expanded into Queensland via the 2011 Rock Building Society acquisition and, most significantly, the 2025 merger with Auswide Bank — roughly doubling its customer base and loan book. The merged entity is now digitising its core lending origination infrastructure via NextGen and modernising its banking engagement layer via Backbase, signalling a technology-led growth strategy to compete with larger Australian banks beyond its Tasmanian home market.
MyState Bank's cards run on Visa.
The Embedded Finance Index 2026 maps 2 layers in MyState Bank's stack: Card network (Visa); Lending (Home loans, Personal loans, Personal overdrafts, Line of Credit and 2 others).
MyState Bank is founded in 2009 and headquartered in Hobart, Tasmania, Australia.
Get a read on where your own stack stands against MyState Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.