Infographic - Explanatory comments
Australian ADI Sector: as at 30 June 2020
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Total ADIs as at 30 June 2020 (according to APRA Register of ADIs): 146.
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Total ADIs in this infographic: 146.
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The ADI categories adopted in this infographic are based on Gen Advisory's internal classification and differ from those contained in the APRA Register.
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Definition of “neobank” adopted for the purposes of this infographic: “Digital-only" bank that is not owned by a “Big 4” bank.
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The definition in (4) precludes NAB’s “UBank” - a digital-only bank that operates on NAB’s ADI license.
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Up Bank - another digital-only bank - has also been excluded from this infographic as it operates on Bendigo and Adelaide Bank’s ADI license (i.e, it is not a "standalone" ADI).
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“Other ADIs” - brief description:
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Australian Settlements Ltd – provides payment services.
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Cuscal Limited – provides industry services.
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Indue Ltd – provides payment services.
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In1 Bank – “restricted” ADI.
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Lutheran Laypeople’s League of Australia – charitable financial institution.
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Tyro Payments Limited – provides payment services.
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Paypal Australia - provides payment services.