Deal: KWM has worked with Australia’s newest bank and first smartbank, 86 400, with regard to licensing approval from ASIC.

Value: Undisclosed

Area: Financial services

Key players: A cross-practice KWM team worked on the case, led by financial services regulatory partner Kate Jackson Maynes and supported by senior associate Amelia Jamieson and solicitor Elizabeth Oliver.

Partners Matthew Swinn and Bill Ladas offered trademarks and intellectual property advice and senior associate Mark Vanderneut provided corporate governance advice.

Deal significance: KWM was involved in the creation of customer documentation for the bank’s deposit and lending products and the online onboarding process for the application. This was in addition to attaining an Australian Financial Services License (AFSL) and Australian Credit License (ACL) from the regulator.

Ms Maynes said about the transaction: “86 400 uses smart technology to surface the most relevant information about spending and saving, so Australian consumers can plan forward, as well as look backward.

VIEW ALL

“We are excited to have assisted in bringing Australia’s first smartbank to the market.”

This email address is being protected from spambots. You need JavaScript enabled to view it.