Nano is not a bank. Nano has an Australian Credit Licence (ACL) 511406, meaning we can provide lending products. We specialise in home loans.
This differs from the way a bank is set up as they are licensed as an Authorised Deposit taking Institution (ADI) and regulated by the Australian Prudential Regulation Authority (APRA). We’re regulated by both the Australian Securities and Investments Commission (ASIC).
Nano is not an ADI and does not raise deposits and therefore is not covered by the government’s financial claims scheme which protects deposits up to a limit with ADIs.
Initially we will be offering Nano home loans. Over time, we will expand our offering to other areas where we can make a real difference for our customers – helping them to make smart money moves.
Nano is reshaping financial services of the past with technology of the future through our fully digital home-lending products.
We use automated property valuations, digital credit scores, automatic retrieval of banking transaction data, and digital verification of identity using biometrics in the home loan application process. With this use of data, we can approve your home loan in minutes (not weeks!) by removing the need for paper-based forms and manual intervention. We’ve designed our business this way to take the effort and ambiguity out of the process for you.
Once approved, our Nano home loan offers you one place to borrow, purchase, pay and tuck money away – all fee free. Yes, that’s right, there are no fees charged by Nano on any of our loans.
Nano uses money from wholesale funding markets to fund our loans. Being completely digital also helps us keep a lower cost base, which is how we are able to offer you such competitive rates (and with zero fees!).
Nano is well-funded, giving us plenty of runway to change financial services for the better and help our customers to make a smart money move. We are led by an experienced leadership team, collectively with 150 years’ experience in financial services and technology. We are partnering with some of the biggest technology and financial services providers in Australia and globally to bring our vision to life. We’re in this for the long-haul as we continue to strive to make the financial services industry fairer for all.
Nano emerged in 2019 after co-founders Andrew Walker and Chris Lumby left the big banks to reshape financial services of the past with technology of the future.
Two years on, we are a well-established business of over 100 people who have made tremendous gains together. Nano is well-funded, giving us plenty of runway to change financial services for the better and help our customers to make a smart money move.
Still have questions?
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