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86 400 one step closer to home loans

Mark Bristow avatar
Mark Bristow
- 2 min read
86 400 one step closer to home loans

Next time you visit a mortgage broker, if you see a home loan from a string of numbers instead of a bank, you’re not seeing things – you may have just encountered 86 400, a neo-bank aiming to disrupt the mortgage market.

Named after the number of seconds in a day, 86 400 is a digital-only bank that aims to let you fully manage your money from your mobile.

Having recently partnered with mortgage aggregator Vow Financial and its network of more than 1200 mortgage brokers, the neo-bank is one step closer to providing Australians with its own home loans.  

“We didn’t set out to create a standard home loan product — we are building an entirely new approach to the home loan process that will make life easier for brokers and deliver better value to customers.” – 86 400 CEO Robert Bell

Other neo-banks that have recently been making headlines in Australia include Up, Volt and Xinja.

However, before you go rushing to make a broker appointment, 86 400 hasn’t actually released its home loan products yet – it still needs a banking license from the Australian Prudential Regulation Authority (APRA).

Until then, you can compare home loans at RateCity, or search for a broker in your area.

Disclaimer

This article is over two years old, last updated on April 16, 2019. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent bank accounts articles.

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Product database updated 29 Mar, 2024

This article was reviewed by Property & Personal Finance Writer Nick Bendel before it was published as part of RateCity's Fact Check process.

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