Up

Australia’s first app-only bank, built for the next generation.

Up launched in 2018 as a collaboration between software company Ferocia and Bendigo & Adelaide Bank. Co-founders Dominic Pym and Grant Thomas set out to rethink banking for younger Australians, building a mobile-first experience focused on speed, simplicity, and savings.

By leveraging Bendigo Bank’s infrastructure and licence, Up was able to bypass regulatory hurdles and go to market quickly. The app featured instant signup, real-time transaction tracking, and tools like “Pull to Save” and conversational payments. It was the first Australian bank to offer instant Apple Pay provisioning.

Why Work at Up

Tech-first DNA Up was born inside a software company, not a bank. The team prioritises engineering, design, and customer delight over red tape.

Massive traction, small team With fewer than 100 people, Up has scaled to over 900,000 customers and $7B+ in deposits, all without VC funding.

Still growing Now part of Bendigo & Adelaide Bank after Ferocia’s acquisition in 2021, Up retains its brand and startup agility while launching new products like home loans and deeper integrations.

Milestones - 2017: Product development begins - 2018: Launched to public - 2021: Ferocia acquired by Bendigo & Adelaide Bank - 2022: Home loan product launched - 2025: 900,000+ customers

The Vision To build a smarter, simpler bank that empowers young Australians to take control of their money, without the jargon or legacy baggage.