Australian neobank Judo secures $247 million in Series B funding

Judo's latest round is evidence that Australia's neobank ecosystem is set to catapult into the country's mainstream:

following an order from the UK's financial watchdog to halt regulated activity. While Australian regulation is increasingly facilitating the growth of neobanks, these players should ensure they don't skirt regulations for the sake of growth.

And avoiding bad press that stems from regulatory issues is especially critical in Australia, as consumer inertia is already higher than in more competitive markets. Any negative perception could extinguish consumer desire to switch from an incumbent.Sign up for the Fintech Briefing to get it delivered to your inbox 6x a week. >>pass to Business Insider Intelligence and gain immediate access to the Fintech Briefing, plus more than 250 other expertly researched reports.

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