IBOA Research _ Part One. … Do Your Own Research..
As of June 2024, the International Bank of Australia (IBOA), a subsidiary of Novatti Group Limited, is focusing on launching several innovative financial products aimed at underserved markets, particularly international students, skilled migrants, and fintech companies.
### Current and Planned Products:
1. **Cross-Border Payment Solutions**:
- **Ripple's On-Demand Liquidity (ODL)**: Leveraging Ripple’s technology for efficient cross-border payments, targeting international migrants and businesses operating across borders.
2. **Accounts for Migrants and International Students**:
- **Pre-Arrival Account Setup**: International students and skilled migrants can set up Australian bank accounts and transfer funds from their home countries before arriving in Australia. This service aims to bypass high international transaction fees and streamline financial preparations [oai_citation:1,International Bankof Australia continues funding round with valuation uplift for Novatti - The Sentiment](https://thesentiment.com.au/international-bank-of-australia-continues-funding-round-with-valuation-uplift-for-novatti/) [oai_citation:2,Novatti Group launches International Bank of Australia after securing key regulatory licence - IBA](https://iboa.com.au/novatti-group-launches-international-bankof-australia-after-securing-key-regulatorylicence/).
3. **Innovative Banking Services for Fintechs**:
- **Support for Fintech Business Models**: Providing a nimble and innovative banking partner for fintechs that need efficient ways to make and accept payments. This includes tailored services for fintech startups looking to leverage advanced banking technology [oai_citation:3,Novatti Group secures license to set up International Bank of Australia - IBA](https://iboa.com.au/novatti-group-secures-license-to-set-up-international-bank-of-australia/) [oai_citation:4,International Bankof Australia approved to launch Australia’s newest payments bank - The Sentiment](https://thesentiment.com.au/international-bank-of-australia-approved-to-launch-australias-newest-payments-bank/).
4. **Migrant and Tourist Services**:
- **Comprehensive Banking Solutions**: Services designed to cater to the significant contributions of migrants and tourists to the Australian economy, including handling remittances and cross-border transactions efficiently [oai_citation:5,Novatti Group secures license to set up International Bank of Australia - IBA](https://iboa.com.au/novatti-group-secures-license-to-set-up-international-bank-of-australia/) [oai_citation:6,Novatti Group launches International Bank of Australia after securing key regulatory licence - IBA](https://iboa.com.au/novatti-group-launches-international-bankof-australia-after-securing-key-regulatorylicence/).
5. **General Banking Services**:
- **Card Issuing, Merchant Acquiring, and Billing**: Expanding traditional banking services to include card issuing and merchant acquiring, which will support Novatti’s core payments business and increase operational margins [oai_citation:7,Novatti Group launches International Bank of Australia after securing key regulatory licence - IBA](https://iboa.com.au/novatti-group-launches-international-bankof-australia-after-securing-key-regulatorylicence/).
### Funding and Expansion:
- **Funding Rounds**:
IBOA recently completed a funding round with a pre-money valuation of AUD 24.7 million. Novatti’s 87% stake in IBOA is valued at approximately AUD 21.5 million. The funds are being used to support the bank’s infrastructure development and regulatory compliance as it moves towards achieving a full ADI (Authorized Deposit-taking Institution) licence [oai_citation:8,International Bankof Australia continues funding round with valuation uplift for Novatti - The Sentiment]
(https://thesentiment.com.au/international-bank-of-australia-continues-funding-round-with-valuation-uplift-for-novatti/) [oai_citation:9,Novatti Group launches International Bank of Australia after securing key regulatory licence - IBA](https://iboa.com.au/novatti-group-launches-international-bankof-australia-after-securing-key-
- **Market Positioning**:
IBOA is leveraging Novatti’s existing payments ecosystem and global partnerships to quickly gain market share. The bank is strategically partnering with migration agents, education providers, and tourism operators to serve international students, skilled migrants, and tourists [oai_citation:10,Novatti Group to launch International Bank of Australia - IBA](https://iboa.com.au/novatti-group-to-launchinternational-bank-of-australia/) [oai_citation:11,International Bankof Australia approved to launch Australia’s newest payments bank - The Sentiment](https://thesentiment.com.au/international-bank-of-australia-approved-to-launch-australias-newest-payments-bank/).
By focusing on these innovative and targeted banking solutions, IBOA aims to address gaps in the market that traditional banks have overlooked, thereby providing significant value to its customers and supporting Novatti’s broader business objectives.
Cheers Anton. DYOR
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