Challenger bank - Judo Bank a specialist, pure play, SMB lender Qorus Banking Innovation Awards 2023 - Winner

Submitted by

Judo Bank

Premium
11/09/2023 Banking Innovation
In response to the major bank market failure to provide small and medium businesses (SMBs) capital, Judo Bank was created as a unique, specialised SMB bank. Our purpose is to be the most trusted SMB business bank in Australia and our aspiration is to build a world class bank. Essentially, we are bringing back what was respected about banking years ago - relationships, with modern, cloud technology and the application of data and digitization. We are using technology to create an efficient, high-touch model to support SMBs.
Innovation details
Country
Australia
Category
Neobanks & Specialized Players
Keyword
Loans, Customer experience, SME Banking

Innovation presentation

FinTech’s have been working on providing capital to SMB’s for over a decade. Yet, few companies continue to be standalone in their efforts or focus and SMBs still struggle to access capital. Judo stands out in several ways: • Delivering an innovation in customer experience resulting in a leading customer Net Promoter Score of +70 • A challenger bank achieving profitability early. We are the fastest challenger bank to achieve profitability, as a standalone startup, globally. • According to the Financial Times in 2023, we are the 4th fastest growth company in Asia Pacific and the fastest financial services growth company in the region. • Earlier this year, we were also deemed by LinkedIn -#1 place to work in Australia. Redefining relationship banking for the modern era is our innovation. By leveraging technology and innovation we have proven we can better serve SMBs, a naturally heterogeneous customer segment. We believe the "butcher, banker and candlestick maker" are not the same and want a bank who knows them and cares about them. Here is Relationship Banking in the words our customers and bankers. https://www.youtube.com/watch?v=vPhs_vscE58

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