The Australian Prudential Regulation Authority (APRA) has granted a banking license to Judo Bank who will operate as a lender to small to medium businesses.

The bank is targeted at small to medium businesses and is set to offer deposit accounts, including term deposits, for business customers.

Co-founder Joseph Healy tells Ross Greenwood the bank will offer something different to its customers.

“For small businesses, from time to time, they need someone to talk to… and provide advice.

“You can’t do that using an algorithm.”

Click PLAY to hear the full interview