January 29,20 11:00 am | by Matt Kirk | posted in Partnerships
In recent times, Cashwerkz has sparked an increasing level of interest from the newer, and more digital banks entering the Australian fintech space.
In July, we signed a partnership with the first SME Challenger bank to enter the Australian market, and in that time, Judo Bank has collected over $1 billion in personal term deposits (see source here).
On these deposits, Judo Bank is offering Cashwerkz investors, retail and wholesale rates between 1.10%* and 2.35%*, depending on the type of investor; self-managed super funds (SMSF), financial advisers, fund managers, the wholesale market, custodians and industry superannuation funds.
When the partnership was launched, acting CEO of Cashwerkz, Hector Ortiz highlighted:
“We have a very similar mindset to Judo Bank, clearly defining itself as a market differentiator and we look forward to working closely with its team to deliver the services its wholesale customer base is looking for now – and into the future.”
Judo Bank offers business lending solutions for Australian SMEs. Having received its full-banking license in April 2019, Judo Bank has begun a staged launch of its term deposit offering to support its core mission of lending to Australian SMEs.
Judo Bank’s term deposits offer competitive market rates and are government-guaranteed up to $250,000 through the Financial Claims Scheme – and through this partnership with Cashwerkz, Judo Bank is looking forward to reaching more investors nationwide.
Find out more about Judo Bank’s rates available to you on the Cashwerkz marketplace here.
*Current rate as at 29 January 2020, and are subject to change at any time without notice.