AMP has launched a new digital-first bank to revolutionize banking for Australia’s small business owners, solopreneurs, and everyday banking customers. Designed for seamless mobile banking, the platform integrates advanced security and smart financial tools to streamline business management and personal finance.
Empowering Small Businesses with Smarter Banking
Nearly 90% of Australian businesses are small, with 2.4 million employing fewer than four people. A quarter of them generate under $50,000 annually, making traditional banking solutions ill-suited for their needs. AMP’s new bank aims to eliminate financial management hassles, offering a flexible, mobile-first solution that adapts to the fast-paced world of small business owners.
Next-Generation Banking Features
AMP’s digital bank brings market-leading technology to enhance security, efficiency, and financial control, including:
✅ First-of-its-kind numberless debit cards for small businesses, reducing fraud risks
✅ Selfie-style video identity verification by two customer service reps for added security
✅ Instant balance hide/reveal feature for on-the-go privacy
✅ 24/7 customer support via phone and live chat, ideal for non-traditional work hours
✅ Seamless integration between personal and business accounts within a single app
✅ UK-inspired ‘Spaces’ feature, enabling virtual sub-accounts for tax, payroll, and budgeting
✅ Smart spending insights to track expenses across merchants and suppliers
✅ Zero monthly fees or international transaction charges for both business and personal accounts
Seamless Onboarding and Future Innovations
The AMP Bank app is available for download on Apple App Store and Google Play, offering a fast, secure, and mobile-first onboarding process.
AMP is also working on new integrations with business management software, making accounting, tax management, and cash flow tracking easier. More features and partnerships will be unveiled in the coming months to further enhance banking convenience.
Built on World-Class Banking Technology
Powered by Engine by Starling, the innovative banking platform that helped Starling Bank attract 4.5 million customers in the UK, AMP’s new digital bank leverages award-winning financial technology to provide a best-in-class banking experience for small businesses and individuals.
A Game-Changer for Small Business Banking
Sean O’Malley, AMP Bank Group Executive, stated:
“We’ve designed this bank from the ground up to empower small business owners, side hustlers, and everyday banking customers with cutting-edge financial tools and security features. Our goal is to simplify business banking while providing seamless personal finance management—all in one app.”
AMP’s new digital bank is just the beginning, with upcoming enhancements and partnerships set to redefine small business banking in Australia.
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