ANZ Bank continues to provide key transactional services for Airwallex, despite the heavily hyped payments ‘unicorn’ being turned down by two major banks over money laundering compliance concerns and onboarding clients that violate the big four giant’s internal policies.
The Age and The Sydney Morning Herald this week revealed that NAB terminated key banking services from $3 billion-valued Airwallex – one of the nation’s most hyped fintech startups, in 2018. Multiple sources said the services were pulled due to red flags around Airwallex’s customers and suspicious transaction patterns. Airwallex subsequently approached Citigroup, but was unsuccessful.
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