he is a global next-gen banking thought-leader and futurist
and former adviser to the Obama White House and US Fed
SYDNEY, Australia — October 30, 2018
Xinja, which is building a 100% independent digital bank, or ‘neobank’ for mobile, (subject to it receiving a banking licence) is adding significant global expertise to its organisation with the announcement that Brett King will act as a permanent advisor to the Board, and help guide Xinja’s strategic direction.
Brett King founded neobank Moven in 2011, which launched the world’s first mobile, downloadable bank account. He is widely considered the most influential expert on retail banking innovation globally.
He is the international best-selling author of Augmented: Life in the Smart Lane, and his series on banking – Breaking Banks, Bank 2.0, Bank 3.0 and most recently Bank 4.0. Mr King hosts the radio show and podcast series ‘Breaking Banks’, on technology and its impact on banking and financial services. It has 6.5 million listeners in 177 countries.
Mr King was an advisor to the Obama White House, the US Federal Reserve and the Office of the Comptroller of the Currency on the future of banking in the United States.
Xinja Chair, Lindley Edwards, said: “Between Xinja and Brett there is a meeting of minds. We are passionate about transforming banking and helping people make more out of their money.
“Brett pioneered neobanking,” Ms Edwards said. “He has been the leading thinker in this area for years. We are very excited to be working with him to help us deliver our vision.”
Mr King said: “I have been working with neobanks around the world for many years, and as an Australian, I’m delighted to finally see this movement reaching home.
“Xinja shares my view that it is essential we don’t just add some new tech to a business model that is 700-years old, but that it is built from the ground up for the digital world.”
Mr King is also a renowned futurist and respected international speaker. His book Augmented was referenced by China’s President Xi Jinping as a seminal text on artificial intelligence.
He is on the boards of several companies, including Moven, CFSi, which is the largest non-profit focused on financial inclusion in the US.
“Brett will be a fantastic adviser providing guidance on innovation to re-imagine retail banking for our customers,” said Xinja CEO Eric Wilson. “It’s time Australians had access to the kind of technology already available in other markets.”
Xinja is focused on building a new kind of bank – one that empowers its customers to make faster, better money decisions, without the angst. Its purpose from day one has been to provide the best banking experience for its customers and help them make more out of their money, Mr Wilson said.
“We are not a new digital front-end stuck on an existing bank but independent and built for digital and mobile from the ground up,” Mr Wilson said. “This means we don’t have expensive legacy systems, branches or processes and we can pass this cost saving along to customers in the form of low or no fees. ’
Xinja launched its app and prepaid card in February 2018. It was granted an Australian Credit Licence and has already launched home loans to friends and family.
Xinja has applied for a restricted banking licence from the Australian Prudential Regulation Authority (APRA) and subject to receiving that licence, is hoping to launch transaction accounts soon.
For further information please contact:
P&L Corporate Communications
61 2 9231 5411
61 414 999 693
Photos available on request.
Xinja is building an independent, 100% digital bank – or ‘neobank’ – for Australians, designed entirely for mobile. It will be a radically new banking experience, built with customers, around their needs and in their in their interests. Xinja launched the first version of its app and its prepaid card in February 2018. It has received an ACL (Australian Credit Licence). Xinja has applied for a restricted banking licence (or to become a restricted authorised deposit-taking institution or ‘RADI’). xinja.com.au
About Brett King
Brett King is an Amazon bestselling author, award-winning speaker and renowned futurist. He is the CEO of Moven – which is currently valued at over $200m and launched the world’s first smart bank account on mobile in 2012 – and was advisor to the Obama administration, the Federal Reserve and OCC on the future of banking. He is a regular media commentator on channels such as CNBC, BBC, ABC, Fox and Bloomberg. He has fronted TED conferences and given keynotes for Wired, Singularity University’s Exponential Finance, The Economist, SIBOS and many others. He launched the radio show/podcast ‘Breaking Banks’ in 2013 and the show now has listeners in 177 countries. brettking.com