Xinja update – what we’re up to!

Xinja update – what we’re up to!

From Eric Wilson, Xinja CEO #xinjamaker.

We’ve had our heads down building a bank recently, and we wanted to reach out and let you know what’s happening and what’s coming up.

Features & products:

Here’s a quick summary and watch out for the Xinja roadmap we’ll be bringing out in a few weeks.

Xinja bank account

The big focus right now is the bank account and the new version of the Xinja app that will come with it. Our development engineering teams are starting to ramp up now as we finalise back end systems, accelerate platform development, and finalise design and execution of the gorgeous app and some exciting features. Without wishing to paint a target on my back, I am really proud of the technology our team and partners are delivering.

Xinja ‘personal loans’

This is the next cab off the rank – this is in inverted commas because this will be not one but several products; it’s really about providing flexible credit in ways that are really useful BUT designed so that you don’t get into unnecessary debt and pay any debt off faster.

Xinja home loans

We tested these with friends and family in 2018, and we look forward to rolling these out at the end of 2019/early 2020. If that works with your timing, there’s a specific waitlist for home loans if you want to get in early or have some questions or ideas – please just email [email protected]

Xinja prepaid travel card

We’re adding the Android widget in a few weeks (for rapid access etc) to the current version of the app. Other than that, we have no specific plans to add new features for now because we’ve decided to put all our app resources into the version of the app that we’re bringing out with the bank account in a few months. We’re carrying over many of the great travel features to the bank account (eg: instant top up, lock your card and you can see the amount in both currencies).

Xinja labs

We’ve already had some fantastic input via sessions, the forum, your emails and the Xinja survey, which has helped us devise features and prioritise, but we’ll be running more Xinja Labs sessions soon for prototype testing and some more blue-sky stuff for the product pipeline, so watch out for the invites.

Behind the scenes:

A bank is a bit of an iceberg……a lot of this you can’t see but it’s pretty important!

Getting a full banking licence

Since becoming a bank with a restricted licence in December, we’ve been working away on the application for our full banking licence which is assessed by APRA (the Australian Prudential Regulation Authority).

Tech build

In addition to what you’ll be able to see through the app, we have been developing out the banking infrastructure with our partners SAP. The core banking system was stood up in record time and we are very excited about the nature of our overall architecture and how it will allow us the flexibility for an excellent service layer for customers.


No inconsiderable amount of our current work is on information security. The safety of your data is of primary importance. I can’t tell you what we’re doing exactly (or I’d have to kill you 😉 but I can say that it’s extensive, exciting and state of the art.


Banks are capital hungry beasts, but fundraising is going well. Our series C has now closed and we’ll be announcing the final amount soon; over $2.5M of that came from retail investors via our second equity crowdfund so a big shout out to all our new investors!

Of course, all of this is worthless if it isn’t surrounded by a new cultural approach to banking.

Neo banking isn’t about slapping a shiny digital front end on existing banks or squeezing an existing banking model through a phone.

It’s about great technology, but it’s also about revolutionising an industry. It’s about ensuring that customers and shareholders are equal, that ethics are at the forefront and that a bank can be a force for good and change in the world. I get that these are high goals, and I get that someone will yell them back at me when we make a mistake one day. . . but perfect shouldn’t be the enemy of good.


Eric Wilson is the Founder & Chief Executive Officer of Xinja.

XINJA™ (Xinja Bank Limited ACN 618 937 054) is authorised by the Australian Prudential Regulation Authority (APRA) to operate under a Restricted Authorised Deposit-taking Institution (RADI) licence until 16th December 2020.  Under this licence we are not required to meet the full ADI prudential framework. We will only offer bank accounts to the general public when we become a full ADI. You can still apply for other Xinja products. More information about Xinja’s RADI licence is available at


join Xinja
  • This field is for validation purposes and should be left unchanged.