Volt Bank and AFG Banking-as-a-Service app

Volt and Frollo have partnered to jointly build and launch a new banking-as-a-service (BaaS) app that is fully integrated with Volt’s core banking system, and can be white labelled for Volt’s BaaS customers.

AFG, one of Australia’s largest broker groups, was the first customer to launch with this app under their ‘Handl. by AFG’ brand.

“The development and availability of a consumer finance app is an important part of ensuring our brokers and their customers have the best opportunity to participate in the benefits of open banking as it builds across the market.

This alliance will also keep our brokers at the forefront of critical technological advancements in financial services."

David Bailey, CEO (AFG)

Challenge

AFG provides its brokers with innovative solutions that will help them stay at the forefront of technology advancements in financial services. 

When the company decided to partner with Volt to launch a white-label home loan, it identified the opportunity to offer it’s customers a next-generation banking app to better manage their money and deliver ongoing value.

Solution

The Banking-as-a-Service powered app lets AFG customers see and manage their AFG Sparc home loan product, open and manage a Volt Savings Account, make payments, and manage a Volt debit card from the one app.

The app will also offer a range of critical open banking benefits that will deeply improve a wide range of personal finance management functions for users. Future plans include access to linked accounts from other financial institutions to get a real-time view of their financial position.

All transactions will be categorised using AI-powered transaction enrichment which automatically identifies merchants, bills, and pay days, enabling customers to plan ahead and stay on track financially.

Features

The Handl. by AFG app

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