Five years after it backed the International Bank of Australia (IBOA) in its banking licence application, digital payments company Novatti Group (ASX: NOV) has pulled the pin on the venture by selling its majority stake for $2.87 million. The decision to exit the venture comes amid a major restructure at Novatti in 2023 which saw
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The International Bank of Australia has taken its first steps to becoming a household name, having been granted a restricted banking licence. This segment has been ignored within Australia’s banking sector yet contributes more than $100 billion per annum to the Australian economy. Securing the RADI (Restricted Authorised Deposit-taking Institution) has been a three-year process
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