Neobank pioneer joins Xinja

Xinja, the Australian start-up building a 100% independent digital bank, or 'neobank' for mobile, has announced that Brett King will act as a permanent adviser to its board, and help guide Xinja's strategic direction.

King founded neobank, Moven, in 2011, which launched the world's first mobile, downloadable bank account. He also served as an advisor to the Obama White House, the US Federal Reserve and the Office of the Comptroller of the Currency on the future of banking in the United States.

King said: "I have been working with neobanks around the world for many years, and as an Australian, I'm delighted to finally see this movement reaching home. Xinja shares my view that it is essential we don't just add some new tech to a business model that is 700-years old, but that it is built from the ground up for the digital world."

King is also a futurist, author and international speaker and sits on the boards of several companies, including Moven and New York-based CFSi (the Centre for Financial Services Innovation).

"Brett will be a fantastic adviser providing guidance on innovation to re-imagine retail banking for our customers," said Xinja founder and CEO, Eric Wilson. "It's time Australians had access to the kind of technology already available in other markets."