Apra have a responsibility to protect both the government and consumer to ensure that all appropriate guidelines are adhered too. This license is arguably the hardest to be approved for in the financial sector, hence why this is considered the crown jewel of finance.
You need to remember that the business and play novatti are proposing and pursuing isn't anything like the current banking system and current business practise seen previously.
The modelling and technology is unique to novatti with patents along with a blockchain tech for banking. There are so many layers and fascits to Novatti it takes alot longer to be approved for. With all the above factored in, look at it as a positive. When approved this will be one of the best fintech plays on the ASX- International Bank, Merchant acquirer platform [holding 1 of only 20 visa acquiring licenses in Australia] many tangible assets, exposure to multiple countries & one of the first companies to launch a CBDC.
Patience will be rewarded, the fundamentals only continue to get stronger.
