On Wednesday 21st of November 2018, Novatti Group (ASX: NOV) formally submitted Project International’s application for a Restricted Authorised Deposit taking Institution (RADI) licence to APRA for review.
Coming after a lot of preparation, this marks the official beginning of our journey to become Australia’s leading migrant focused, 100% digital bank. ‘Project International’ is our code name, in the pre RADI phase to represent this goal.
The philosophy of Project International is that we will be “more than just a bank” as we aim to deliver an innovative suite of digital first banking solutions through a unique, culturally appropriate, customer centric approach.
Shaped, as it will be, by migrant’s unique cultural and situational needs, Project International will promote financial freedom and an easier, faster, path for them to a full financial and personal life
We will not be and are not, trying to be, a traditional bank. Our approach will put the customer before the process and use their input to directly shape the sort of bank we become.
A second key part of Project International, is our development of a large migrant community space. This will be a unique and safe environment, where migrants can seek help and give help, share their experiences, build relationships and establish their personal network.
Project International is wholly owned by Novatti, an Australian based award winning, global software technology provider with extensive payments experience. Novatti provides innovative financial service solutions that help economies, corporations and consumers digitise cash transactions by leveraging off robust and efficient software solution technology.
Novatti’s core offerings of remittance services and cross border payment solutions, (Chinapayments.com) are already providing intelligent and relevant services for migrants. With this technology expertise and deep understanding of migrant needs, it is easy to see that Project International represents a natural “sweet spot” for the business.