Buy now, pay later platform Zip and neobank 86 400 have today announced they will be partnering up to help Australians take better control of their money.
The partnership between two of Australia’s leading fintechs will tap into the growing trend of Australians looking to ditch traditional banking and financial products for digital alternatives, such as buy now, pay later (BNPL).
"Millions of Australians are looking for new and better ways to pay and are adopting smarter technologies, such as 86 400 that help them better manage their banking," Zip Co CEO Larry Diamond said.
"It was an absolute pleasure working with 86 400, a digital-first organisation like Zip, where customers can now access the latest in everyday banking.
"We are equally as excited about new features that make it even easier for customers to leverage both companies’ offerings within a seamless digital experience.”
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*Data accurate as at 21 September 2020. Rates based on a savings balance of $10,000. Sorted by total interest rate. Refer to providers' websites for bonus rate conditions. Note that the base rate will apply once the introductory term has passed.
Since launching to the public in September, 86 400 has been focused on offering modern data and analytics to “help customers gain a better understanding of their savings and spending habits” and take control of their money.
86 400 CEO Robert Bell said the neobank and Zip are both like-minded businesses with a shared purpose.
"We were both built to give Australians better experiences with their money, and so by working together, we can accelerate our shared mission.
"Both Zip and 86 400 invest heavily in technology, and we have a single-minded focus on doing what’s right for the customer, every second of every day. Be it our Energy Switch service, or Zip’s Shop Everywhere feature, these products enable Australians to get more out of their money,” Mr Bell said.
Later in the year, 86 400's Customer Experience Engine will be integrated with Zip's consumer products to give customers more visibility over their finances.
More details on the partnership are expected to be announced soon.
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