Xinja’s restricted banking licence Application

Gilbert + Tobin advised ‘neobank’ Xinja on its restricted banking licence application under the Australian Prudential Regulation Authority’s new regime.

Xinja is a digital-only ‘neobank’ that aims to provide banking services in an innovative and technologically-driven way. Gilbert + Tobin supported Xinja in securing its restricted authorised deposit-taking institution (ADI) licence, which allows Xinja to conduct limited banking services in Australia with the ultimate goal of becoming an ADI.

Gilbert + Tobin advised ‘neobank’ Xinja with a team including Peter Reeves (Picture), Simon Burns, Paula Gilardoni, Georgina Willcock, Cherrie Fung, Marcus Wong, Robert O’Grady and Emily Shen.

Involved fees earner: Simon Burns – Gilbert + Tobin; Cherrie Fung – Gilbert + Tobin; Paula Gilardoni – Gilbert + Tobin; Robert O’Grady – Gilbert + Tobin; Peter Reeves – Gilbert + Tobin; Georgina Willcock – Gilbert + Tobin; Marcus Wong – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Xinja Bank Limited;

Author: Michael Patrini