Up

History

Up was built by a team inside Bendigo and Adelaide Bank as a smartphone-first brand aimed at younger Australians. It competed with other digital offerings in a market where true full-licence challengers faced high capital requirements.

Founders

Up launched in 2018 as a smartphone-first Australian neobank brand through a partnership between Bendigo and Adelaide Bank and software company Ferocia.

Dom Pym and Grant Thomas co-founded Ferocia and are widely credited as Up's co-founders. Pym, a serial Australian fintech entrepreneur, helped articulate Up's "technology-led bank, not bank-led technology" thesis and served as an early public face of the brand. Thomas partnered on building Ferocia's banking software capabilities that powered Up's everyday accounts, savers, round-ups and spending insights.

Anson Parker, head of product, was a key early product leader shaping Up's distinctive UX. Bendigo later acquired Ferocia, folding Up more tightly into the bank while keeping the digital brand—and deposits remain held by Bendigo under Australian deposit-protection arrangements.

Brand and partner structure

Up is a digital brand powered by Bendigo and Adelaide Bank, which holds deposits under Australian protections. Software company Ferocia built the experience; Bendigo later acquired Ferocia, tightening the relationship while keeping Up's distinct smartphone-first identity.

Reception

Up is frequently praised by younger Australians for spending insights and design. It illustrates a partnership path to neobank-like UX in a market where standalone full licences are capital-intensive.

Products

Up offers everyday accounts, savers, round-ups, two-way payments with friends ("Pay Anyone") and detailed spending insights. Deposits are covered under the partner bank's deposit protection arrangements.