Why did Xinja fail (end of neobanks in Australia?)

Xinja, one of the Australia's first retail neobanks, shockingly announced in December 2020 that it was ending its banking operations in Australia. Is the writing on the wall for neobanks in Australia such as 86 400, Up Bank, Volt Bank, Judo Bank and Tyro? What will happen to Volt Bank's proposed ASX IPO?

****
DISCLAIMER - PLEASE READ

The information in this video is for general information only. It should not be taken as constituting professional advice and I am not a financial adviser. You should consider seeking independent legal, financial, tax or other advice to check how the information relates to your individual circumstances.

Видео Why did Xinja fail (end of neobanks in Australia?) канала I Dream of Money