Mutual banks sign up to fintech accelerator program

Seven mutual banks have signed up to a new fintech accelerator program run by professional services firm KPMG. The 12 week mLabs program will connect the mutuals with 14 start-up companies in an attempt to promote innovation.

Beyond Bank, CUA, Greater Bank, Heritage, IMB (Illawarra Mutual Bank), Police Bank, and Teachers Bank have agreed to work closely with the start-ups to come up with solutions to sector-wide issues, and create prototype products and services.