Bendigo Bank's digital banking platform, Up, has achieved a significant milestone, reaching one million customers. Established in 2018 as a joint venture between Bendigo Bank and Ferocia, Up has experienced rapid growth, unmatched by any other Australian bank. Bendigo Bank acquired full ownership of Up in 2021.

In just three years, Up has attracted more than $2 billion in deposits and $1 billion in mortgages. "In 2018, we began executing on our plan to build Australia’s first and best digital bank with Up. Six years later and we have attracted more than $2 billion in deposits, $1 billion in mortgages and are now celebrating Up’s millionth customer," said Richard Fennell, CEO of Bendigo Bank.

Up's app is the highest rated Australian bank app in both the App Store and Google Play. "One of the secrets to Up’s success is its intuitive UX which helps customers manage their finances. Features such as Save up $1000 and Locked Savers have made Up’s app the highest rated Australian bank app in both the App store and Google Play," Fennell added.

Bendigo Bank, recognised as Australia's most trusted bank, plans to leverage Up's technology and capabilities for its own brand. The aim is to onboard new customers faster and at a lower cost, while also delivering new digital capabilities to meet the evolving needs of existing customers. "We are now focused on leveraging Up’s technology and capabilities for the Bendigo Bank brand, which will help onboard new customers even faster and at even lower cost to the bank while also delivering new digital capabilities to meet the evolving needs of our existing customers," Fennell stated.

The CEO also expressed his pride in Up's success and alignment with Bendigo Bank's purpose of feeding into prosperity. "Bendigo Bank is Australia’s most trusted bank and Up’s mission to make money easy is closely aligned with our purpose of feeding into prosperity. We are proud of Up’s success and will continue to invest in areas which will accelerate our growth and enhance productivity for the benefit of our customers," he said.

Fennell concluded by congratulating the entire team at Up for reaching this major milestone, "Congratulations to the entire team at Up for reaching this major milestone".