# Alex.Bank

> Alex.Bank is an Australian digital-only bank founded in Brisbane in 2018 by former Suncorp innovation leaders Simon Beitz and Craig Fenwick. Built from scratch with no legacy systems, Alex offers unsecured personal loans, car and EV loans, green loans and award-winning term deposits through a fully paperless process that promises application in minutes and funding within hours. It holds a full Australian banking licence and positions itself as a 'fast, fair and flexible' alternative to the big four incumbents and buy-now-pay-later lenders.

- **Founded:** 2018
- **Headquarters:** Brisbane, Queensland, Australia
- **Founders:** Simon Beitz (Co-founder, Managing Director & CEO), Craig Fenwick (Co-founder, Executive Director & CFO)
- **Team size:** ~98 employees
- **Products:** Personal Loans, Car Loans, EV Loans, Green Loans, Term Deposits
- **Notable:** Granted a restricted ADI licence by APRA in July 2021 and a full banking licence in December 2022., Raised over US$20M in Series C at a valuation above A$120M., Trustpilot rating of 4.8/5 and a Net Promoter Score of 74, well above typical bank scores.

## Products & services

- **Personal Loans** — Unsecured personal loans up to $50,000 with personalised rates, no ongoing fees, and funding within hours; used for debt consolidation, home improvement, holidays and more.
- **Car Loans** — Secured car loans with competitive fixed rates and no early repayment fees.
- **EV Loans** — Discounted secured loans for electric vehicles with no ongoing or early repayment fees.
- **Green Loans** — Unsecured loans (from ~8.49% p.a.) for solar systems and energy-efficient home upgrades to lower power bills.
- **Term Deposits** — Award-winning fixed-rate term deposits, protected up to $250,000 under the Australian Government Financial Claims Scheme; option to earn Qantas Points.
- **Debt Consolidation Loans** — Loans that roll multiple debts into a single fixed repayment at a personalised rate.

## Achievements

- Granted a restricted ADI licence by APRA in July 2021 and a full banking licence in December 2022.
- Raised over US$20M in Series C at a valuation above A$120M.
- Trustpilot rating of 4.8/5 and a Net Promoter Score of 74, well above typical bank scores.
- Won Mozo Experts Choice Awards for its personal loan products (including Unsecured Personal Loan, 2022).
- Joined the RBA's RITS settlement system in April 2025 with its own Exchange Settlement Account.

## Latest updates

- **2025-04** — Joined the Reserve Bank of Australia's RITS settlement system, becoming one of ~100 institutions to hold an Exchange Settlement Account.
- **2024-07** — Launched a partnership with Qantas Frequent Flyer, letting customers earn Qantas Points on Alex products.
- **2022-12** — Launched its Term Deposit product one month after gaining full ADI status.
- **2022-12** — Received its full Australian banking licence from APRA.

## Links

- Website: https://alex.bank
- LinkedIn: https://www.linkedin.com/company/alexbankaus
- Twitter/X: https://twitter.com/alexbankau
- Instagram: https://www.instagram.com/alex.bank/
- Facebook: https://facebook.com/alexbankau

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Profile page: https://yespress.io/alex-bank
Published by YesPress — https://yespress.io
Last updated: 2026-08-04