Up Bank
“Can a bank-owned consumer neobank brand grow into a full personal finance OS without giving up the trust and balance-sheet advantages of its parent ADI?”
Founded2018
HQMelbourne, Australia
IndustryFintech / Neobank
The story
Up was founded in 2018 as a mobile-first neobank in Australia, operating as a brand of Bendigo and Adelaide Bank under its existing ADI licence rather than seeking its own — a sponsor-bank model unusual for the AU market. The original Up was built by Ferocia, which Bendigo acquired in 2021, vertically integrating the product into the bank. Since then Up has expanded beyond everyday banking and savings into international transfers (via a Wise integration), Open Banking/CDR data sharing, and home loans (Up Home, with Tiimely as loan-origination service provider).
Last 12 months
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Product timeline
2018
Up launched as a digital banking app, a partnership between Ferocia and Bendigo and Adelaide Bank.· banking
2020
Beta release of the Up API providing programmatic access to balances, transactions, and real-time webhooks.· banking
2021
Up enables Consumer Data Right / Open Banking data sharing.· banking
2021
Bendigo and Adelaide Bank acquires Ferocia, fully bringing Up in-house.· acquisition
2023
Wise (TransferWise) integration available in-app for international payments.· pivot
2025
Up Home loans launched, leveraging Tiimely as a service provider for application processing.· lending
Regulated entities
3
regulatory licences held by Up Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Up Bank’s embedded-finance stack
Payments / PSP
Up app payments (self-operated via Bendigo and Adelaide Bank)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: minor
6 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.