first anniversary this week with more than $12 billion of deposits and 600,000 customers.

Those numbers make it six times bigger than Telebank, the branchless U.S. bank that has been on the Internet for four years. Telebank announced last week that it had amassed $2 billion of deposits and 100,000 customers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.