Australian Neobank Volt Proclaims Partnership With International Retailer Cotton On Group

Australian neobanking group Volt introduced on Monday its new partnership world retailer, the Cotton On Group, introduce crew members and clients to the Volt expertise. Volt claims that is the primary partnership of this sort between a neobank and main retailer in Australia.

Volt additionally revealed that via the partnership, Cotton On crew members, and in time Cotton On Perks members, might be launched to the Volt Financial savings Problem in an effort to assist them create higher monetary habits.

“The Volt Financial savings Problem encourages clients to set targets and sends mild reminders for weekly saving, monitoring their progress over a 6 week interval by which period the financial savings ‘behavior’ must be embedded behaviour.”

Talking in regards to the partnership, Steve Weston CEO and Co-Founding father of Volt, acknowledged that the partnership can also be closely centered on a “deep philosophical and values alignment” between the businesses.

“The partnership will assist us proceed to point out thousands and thousands of Australians shortly develop and enhance their financial savings and spending habits with Volt. We just lately launched to our waitlist a “no catches” 2.15 per cent variable rate of interest, which enhances our financial savings challenges which might be designed to assist folks grow to be financially wholesome and masters of their very own cash. We sit up for bringing this expertise to many extra Australians within the coming years.”

Brendan Sweeney, Basic Supervisor of E-Commerce at Cotton On, then concluded:

“Our millennial crew and clients are extremely engaged, digital-first and have informed us that they’re in search of trusted companions who will help them obtain their monetary objectives. We actually just like the Volt strategy of simplicity, belief, and nice worth coupled with a digital buyer expertise designed to assist clients perceive their funds and obtain their objectives. We sit up for making the Volt expertise out there to our crew members and clients over the approaching months.”

The partnership with Cotton On comes only a little over a month after Volt secured $70 million via its Sequence C funding spherical. On the time, Weston remarked:

“Key to our final world scale is the event of our platform technique. We at the moment are elevating extra capital to spend money on the event, integration and onboarding of companions that can open up new buyer bases with each Volt-branded and white-labelled banking merchandise.”

Volt’s Sequence C funding spherical brings the digital financial institution’s complete capital raised to $100 million.