Interesting strategy of selling off components of their business for other people to manage and just get some royalties.

First it was merchant facilities to Tyro

Then it was their loan book to Tic:Toc (a company due to list end of this year of which BEN owns 27% )

Now (Feb 22) it is their invoice finance business to Timelio (presumably BEN gets a cut of future referrals)

Is there a pattern here? Is this a case of BEN setting themselves up as a referral hub; royalties without the headache. They are certainly investing hard in their customer-end fintech UP as part of their "digital transformation". They recently announced a consolidation of their Business banking and Rural banking divisions, streamlining functions.

Below is a diagram of the features roadmap of Up - subsidiary of Bendigo Adelaide Bank.

Some of the more unique features offered include:

• Allocating payment IDs, allowing users to request payments from friends for their portion of "drinks night" + tracking the receipt of those payments
• Can read a bill and 'split' it according to percentage or item
• Easy setup of new holding accounts for special purposes (eg holiday fund) with automated user-defined redirections into those accounts
• Setup joint accounts for 'house share' scenarios
• Ability to add notes and attachments to transactions
• Integration to Apple pay, Fitbit Pay, Garmin Pay etc.... all avail on phone/watch/screen
• Round ups - helping millennials to squirrel away 'loose change' for a rainy day
• Latest project = home loans
• Also a "SECRET PROJECT" (yellow dot) linked to accounts - any guesses?

https://up.com.au/tree/

Bendigo and Adelaide Bank have a host of subsidiaries

• Adelaide Bank
• Alliance Bank
• AWA Alliance Bank
• BDCU Alliance Bank
• Bendigo Bank
• Circle Alliance Bank
• Community Sector Banking
• Delphi Bank
• Nova Alliance Bank
• Rural Bank
• Service One Alliance Bank