who owns up bank

Up Bank (the Australian digital bank known as “Up”) is owned by Bendigo and Adelaide Bank Limited, which now holds 100% of the Up/ Ferocia business and runs Up as a distinct brand within the group.

Who owns Up Bank?

• Up started as a collaboration between fintech company Ferocia and Bendigo and Adelaide Bank.

• On 16 August 2021, Bendigo and Adelaide Bank acquired Ferocia (including its stake in Up and related IP), giving Bendigo full ownership of Up.

• Today, Up operates as an independent arm and consumer brand of Bendigo and Adelaide Bank, rather than as a separate licensed bank of its own.

Quick context and “is it real?”

• Up uses Bendigo and Adelaide Bank’s core banking infrastructure, while the Up team builds the app and experience on top.

• Bendigo and Adelaide Bank is one of Australia’s larger banks (often described as the fifth-largest), and Up customers’ accounts sit on that regulated banking platform.

Related “UP bank” in India (if you meant that)

If by “UP bank” you were thinking of the new Uttar Pradesh Gramin Bank in India, that is a different entity altogether: it is a regional rural bank formed by amalgamating several UP-based rural banks and is sponsored by Bank of Baroda.

Bottom note: Information gathered from public forums or data available on the internet and portrayed here.