Bendigo Bank

What Bendigo Bank does

Bendigo and Adelaide Bank Limited (ASX: BEN), trading as Bendigo Bank, is one of Australia's largest regional banks, founded in 1858 and headquartered in Bendigo, Victoria. The bank serves approximately 2.9 million personal, small-to-medium business, agribusiness, and community customers through an integrated multi-channel model combining physical branches (including the distinctive Community Bank franchise network that reinvests profits locally), digital self-service platforms (e-banking, mobile app, Express Home Loan 100% online application), mortgage broker channels supported by a 50-person virtual banking team, and partnerships for insurance (CGU, Cover-More), merchant services (Tyro), and share trading (CMC Markets).

The product portfolio spans transaction accounts, savings and term deposits, secured and unsecured personal loans (including green and student variants), variable and fixed-rate home loans, business lending and equipment finance, agribusiness banking (Farm Management Deposits, trade finance), credit cards (including Qantas co-branded), wealth management (Sandhurst Trustees managed funds, Leveraged Equities margin lending), insurance distribution, and international payments in 25+ currencies. Technology infrastructure has been modernized via a multi-year Google Cloud agreement deploying Gemini Enterprise AI tools, Confluent's real-time data streaming platform, and a streaming backbone derived from subsidiary Up Money (formerly Ferocia). AI capabilities are deployed in fraud detection using behavioral biometrics, customer enquiry handling, and the Wealth Concierge advisory service.

The revenue model is diversified across net interest income from lending and deposit spreads, account and transaction fees, insurance distribution commissions, interchange from cards, merchant services fees, FX margins on international payments, and wealth management fees. The bank operates wholly-owned subsidiaries Sandhurst Trustees, Leveraged Equities, National Mortgage Market Corporation, Up Money, and Tiimly, and reported revenue of approximately AUD $2.38 billion for FY2024. Recent strategic moves include the seven-year Infosys technology outsourcing partnership (2026), Google Cloud AI expansion (2025), Telstra telecommunications partnership (2026), Confluent streaming deployment (2026), and participation in the Australian government's Economic Resilience Program (2026).

Name

Bendigo Bank

Legal name

Bendigo and Adelaide Bank Limited

Website

https://bendigobank.com.au

Company type

Public

Founded year

1858

Operating status

Operating

Headcount range

1–10 employees

Short description

Bendigo and Adelaide Bank Limited (ASX: BEN) is an Australian regional bank serving 2.9 million personal, SMB, agribusiness, and community customers through branches, digital channels, and broker partners, offering deposits, lending, cards, insurance, wealth, and merchant services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Home loan lending
• Business banking
• Wealth management
• Deposit accounts

Headquarters

HQ city

Bendigo

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Lending: Bendigo Bank generates primary revenue through interest earned on home loans, personal loans, business loans, and credit cards. The bank offers variable and fixed rate products across owner-occupied and investment categories.
2. Term Deposits and Savings: Deposit products including term deposits, savings accounts, and transaction accounts. The bank pays interest to depositors and uses these funds for lending activities, generating spread income.
3. Fee Income: Various banking fees including monthly service fees on some accounts, transaction fees, credit card fees, and home loan fees. Express Home Loan charges a $10 monthly service fee.
4. Insurance Distribution: Bendigo Bank distributes insurance products (car, home, travel, landlord) through partnerships with CGU Insurance and Cover-More, earning commissions on policy sales.
5. Wealth Management and Investment Products: Managed funds, share trading (Bendigo Invest Direct via CMC Markets), and margin lending products through subsidiaries Sandhurst Trustees and Leveraged Equities. Qantas Business Rewards credit cards generate interchange revenue.
6. Merchant Services and EFTPOS: Payment processing services through Tyro partnership for EFTPOS machines and eCommerce solutions, generating transaction-based revenue.
7. International Payments and Foreign Exchange: Telegraphic transfers, international payments in 25+ currencies, and Cash Passport prepaid travel cards. Revenue generated through exchange rate margins and transaction fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Bendigo Bank provides comprehensive retail, business, agribusiness, and community banking services across Australia, including transaction and savings accounts, term deposits, home loans (including the 100% online Express Home Loan), personal and business loans, credit cards, insurance distribution (car, home, landlord, travel), managed funds, share trading, margin lending, EFTPOS/merchant services, and international payments. The bank serves approximately 2.9 million customers through branches, Community Bank franchises, mortgage brokers, phone banking, and digital channels including e-banking and a mobile app.

Product overview

Bendigo and Adelaide Bank Limited operates as a unified multi-channel banking platform offering comprehensive financial services across personal, business, and community banking segments. The product portfolio centers on transaction accounts (Everyday, Student, Easy Retirement, Concession accounts), savings products (EasySaver, Reward Saver, PiggySaver, Term Deposits), lending (Express Home Loan, personal loans including secured, unsecured, green, and student variants, business loans, equipment finance, trade finance), insurance (car through CGU, home, landlord, travel through Cover-More), and investing (managed funds via Sandhurst Trustees, share trading via Bendigo Invest Direct/CMC Markets, margin lending via Leveraged Equities). The platform provides digital banking via e-banking and mobile app with mobile payment integrations (Apple Pay, Google Pay, Samsung Pay, Garmin Pay), merchant services through Tyro (EFTPOS, eCommerce), international payments, and financial advisory services through Wealth Concierge. Key subsidiaries include Sandhurst Trustees (managed funds/superannuation), Leveraged Equities (margin lending), and Up Money (digital banking). The Community Bank franchise model reinvests profits into local communities.

Differentiator

Problem solved

Functional benefit

Brands

• Sandhurst Trustees: Wholly owned subsidiary providing managed investment schemes and superannuation services.
• Leveraged Equities
• Up Money
• Tiimly
• Bendigo Bank Broker

Products and services

• Everyday Account Basic transaction account with $0 monthly fees, 24/7 fraud monitoring, and easy access via e-banking, app, branch, or phone for individual consumers.
• Student Account Transaction account designed for full-time students over 12, apprentices and trainees, opened in-branch.
• Easy Retirement Account Transaction account designed for retirees over 55 years of age, self-funded retirees, or pensioners.
• Concession Account Transaction account designed for customers with an eligible Commonwealth Government concession card.
• EasySaver Account Savings account with ongoing variable interest rate of 3.55% p.a., no monthly service fee, and easy access to funds.
• Reward Saver Account Savings account with base rate of 0.10% p.a. and bonus rate up to 4.75% p.a. when monthly balance increase criteria are met (under $100,000 balance).
• PiggySaver Account Kids savings account for children under 12 with variable interest rate of 3.55% p.a., birthday gifts, and free money box. Automatically converts to Student Account at age 12.
• Term Deposit Fixed-term investment product with rates from 1.20% p.a. for $5,000-$5,000,000 balances, terms from 1 month to 5 years, and interest paid at maturity, monthly, quarterly, or yearly. Protected under the Financial Claims Scheme.
• Express Home Loan 100% online home loan with variable rate of 6.04% p.a. (comparison rate 6.17% p.a.), fixed rate options from 6.39% p.a., offset account available, minimum loan $10K to $1.5M, and same-day email approval for eligible applications.
• Secured Personal Loan Asset-backed personal loan for cars, boats, or holidays with 9.54% p.a. rate (comparison rate 10.26% p.a.) and terms up to 7 years with weekly, fortnightly, or monthly repayments.
• Unsecured Personal Loan No-collateral personal loan for holidays or other needs with 14.54% p.a. rate (comparison rate 16.64% p.a.) and terms up to 7 years.
• Green Personal Loan Secured or unsecured personal loan for energy-efficient vehicles (6.24% p.a., comparison 6.61% p.a.), solar power systems, grey water treatment systems, or electric vehicle charging stations (8.24% p.a., comparison 9.27% p.a.).
• Student Personal Loan Personal loan for higher education students and apprentices available in secured (9.70% p.a.) and unsecured (11.74% p.a.) variants.
• Bendigo Ready Credit Card Standard Mastercard credit card with 19.99% p.a. purchase rate, complimentary insurance, and mobile payment support for individual consumers.
• Low Rate Platinum Credit Card Platinum-tier Mastercard credit card with a lower purchase interest rate and premium benefits including complimentary insurance.
• Platinum Rewards Credit Card Rewards credit card earning Bendigo Bank Reward Points on eligible transactions, with premium benefits.
• Qantas Platinum Credit Card Co-branded Qantas credit card earning Qantas Points on domestic, international, and government transactions, with complimentary insurance and Qantas Frequent Flyer integration.
• Car Insurance Car insurance distributed through CGU Insurance covering fire, theft, weather, collisions, new car replacement, hire car benefits, third-party liability up to $20 million, and uninsured driver damage cover.
• Home & Contents Insurance Home building and contents insurance through CGU for property protection against fire, theft, natural disasters, and liability coverage.
• Landlord Insurance Insurance for investment property owners covering loss of rental income, property damage, and liability, distributed through CGU.
• Travel Insurance Domestic and international travel insurance through Cover-More with COVID-19 coverage, 24/7 emergency assistance, and single or multi-trip options.
• Managed Funds Managed investment schemes and superannuation products issued by wholly-owned subsidiary Sandhurst Trustees with expert-managed investment options and a minimum $1,000 investment.
• Bendigo Invest Direct Online share trading platform powered by CMC Markets Stockbroking with mobile app access, international trading, free tax and portfolio reporting, and frequent trader discounts.
• Margin Lending Investment margin lending facility issued by wholly-owned subsidiary Leveraged Equities to boost investment power with competitive rates, tax effectiveness, and flexible terms.
• Wealth Concierge Free general financial advice service using an AI-assisted team to provide guidance on investing, insurance, retirement planning, and referrals to licensed financial advisers.
• Business Transaction Account Business banking account with fraud monitoring, multi-factor authentication, debit Mastercard access, and e-banking/app management for small and medium businesses.
• Business EasySaver Account Business savings account with instant internet banking, phone banking, and card access for small and medium businesses.
• Farm Management Deposit Tax-advantaged savings account for primary producers to set aside pre-tax income from profitable years, supporting agribusiness cash-flow management.
• Business Loan Flexible business lending facility for growth, equipment, or cash flow management with competitive rates for small and medium businesses.
• Equipment Finance Financing solutions for business equipment acquisition with flexible terms and pre-approval options, including pre-approved equipment finance for established business customers.
• Trade Finance Multi-option trade finance solutions for importers and exporters including letters of credit and documentary credits.
• Business Credit Card Low monthly fee ($4) Mastercard business credit card with 13.99% p.a. purchase rate, Mastercard acceptance, and expense visibility for SMBs.
• Qantas Business Credit Card Business rewards Mastercard earning 0.6 Qantas Points per eligible dollar (capped at 30,000 per statement), $89 annual fee, with Qantas Business Rewards integration.
• EFTPOS Pro Series Professional point-of-sale terminal (Pro Series) with touch screen or keypad choices for business payment acceptance, powered by Tyro Payments.
• eCommerce Payment Solutions Online payment solutions for business websites and apps through Tyro integration, enabling eCommerce payment acceptance.
• International Payments Telegraphic transfers and international payments in over 25 currencies with competitive exchange rates and 24/7 e-banking access for consumers and businesses.
• Cash Passport Platinum Mastercard Prepaid travel Mastercard for carrying and spending foreign currency abroad, issued by EML Payment Solutions with Mastercard network acceptance.
• Personal Financial Advice Tailored financial planning services for individuals including retirement strategy, investment planning, portfolio management, life insurance, tax planning, and aged-care planning through licensed advisers.

Quantifiable outcome

• Ranked #2 in KPMG Customer Experience Excellence Report 2025/26, up from previous rankings, with overall CX score rising to 7.30 (up 1.67 points year-on-year)
• +1 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability7 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• InfosyscoreTechnology or Integration · 28 May 2026Seven-year technology services partnership where more than 100 Bendigo Bank technology employees are expected to transition to Infosys. The partnership has been criticized by the Australian Finance Sector Union (FSU) regarding employment contract terms.
• TelstracoreTechnology or Integration · 19 March 2026Five-year partnership with Telstra to supply telecommunications services across Bendigo Bank's business and national retail network. This partnership enables better support and services for 2.9 million customers and thousands of team members, while providing improved security, faster internet connections, and greater resilience across the national footprint. The bank will complete its transition to Telstra in the coming months.
• ConfluentcoreTechnology or Integration · 13 March 2026Confluent's real-time data streaming platform enables Bendigo Bank's automation, fraud reduction, and improved customer experiences. The deployment significantly reduced processing load and improved real-time insights for the organization.
• Up Money (Up)coreTechnology or Integration · 10 March 2026Bendigo Bank leveraged a data challenge from Up into a streaming infrastructure that now supports its AI initiatives. Up provides banking data infrastructure integrated into Bendigo Bank's operations.
• Google CloudcoreTechnology or Integration · 23 November 2025Multi-year agreement to adopt AI, security, and skilling solutions to enhance digital infrastructure and customer service. Bendigo Bank will deploy Google Cloud's Gemini Enterprise and security tools to improve productivity, security, and data management.
• CGU InsurancecoreChannel Partner/ Reseller/ DistributorBendigo Bank distributes car, home, landlord, and other insurance products underwritten by CGU Insurance (Insurance Australia Limited). Bendigo Bank acts under its own AFSL and under an agreement with CGU, receiving commission on sales.
• Cover-MorecoreChannel Partner/ Reseller/ DistributorBendigo Bank distributes travel insurance products through Cover-More Insurance Services, underwritten by Zurich Australian Insurance Limited. The partnership provides domestic and international travel insurance to bank customers.
• Tyro PaymentscoreChannel Partner/ Reseller/ DistributorBendigo Bank EFTPOS and eCommerce powered by Tyro. Tyro provides Pro Series EFTPOS machines (touch screen or keypad), Tyro BYO App for smartphone payments, and eCommerce solutions. Bendigo Bank is remunerated by Tyro on a commercial basis.
• Sandhurst TrusteescoreOthersWholly-owned subsidiary of Bendigo Bank that issues managed fund products. Part of the Bendigo and Adelaide Bank Group.
• Leveraged EquitiescoreOthersWholly-owned subsidiary of Bendigo Bank that issues margin loan products. Part of the Bendigo and Adelaide Bank Group.
• CMC Markets StockbrokingcoreTechnology or IntegrationCMC Markets Stockbroking provides the Bendigo Invest Direct share trading platform as a service to Bendigo Bank customers. Operates as a Participant of ASX, SSX, and Cboe.
• TiimlyminorChannel Partner/ Reseller/ DistributorTiimly brand (by Bendigo Bank) enables alternative mortgage financing for customers who may face challenges with traditional lending, such as those near renewable energy infrastructure.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Australia and New Zealand Banking Group (ANZ): Big Four Australian bank (ASX:ANZ) operating retail, commercial, and institutional banking. Closely comparable in personal banking products, business banking, and digital transformation trajectory.
• Suncorp Bank: Australian regional bank (formerly ASX:SUN, banking divested to ANZ in 2024) with comparable retail, agribusiness, and SME banking offerings. Highly relevant as a mid-tier Australian bank peer to Bendigo.
• Commonwealth Bank of Australia: Largest Australian retail and commercial bank (ASX:CBA), directly competing with Bendigo Bank across deposits, home loans, business banking, and wealth management. Most comparable by product breadth and customer-segment coverage, but materially larger in scale.
• Bank of Queensland: Regional Australian bank (ASX:BOQ) with similar focus on owner-managed and regional customers. Closest direct peer by scale, geographic concentration in Australia, and reliance on broker channels.
• Macquarie Group: Australian banking and financial services group (ASX:MQG) with Macquarie Bank retail division competing directly on savings, home loans, and transaction accounts. Comparable as a publicly listed Australian bank with diversified fee-income streams.
• National Australia Bank: Big Four Australian bank (ASX:NAB) with overlapping personal, business, and agribusiness banking franchises. Strong regional and SMB banking presence makes it one of the closest direct comparables to Bendigo.
• Westpac Banking Corporation: Big Four Australian bank (ASX:WBC) with full retail, business, and institutional offerings. Comparable across home loans, deposits, and consumer finance; particularly relevant for Bendigo's regional and community banking segments.

Others

• Tyro Payments: Australian EFTPOS and merchant acquiring provider (ASX:TYR) and Bendigo's merchant services partner. Adjacent ecosystem participant rather than direct competitor; included because of the commercial partnership relevance.

Emerging players

• Judo Bank: Australian challenger bank (ASX:JDO) specializing in SME lending. Comparable as a newer Australian bank competing in the business banking segment that Bendigo serves.
• ING Australia: Digital-first challenger in Australian retail banking with a savings-led deposit franchise and Orange Everyday transaction account. Comparable as a competitor for digital-savvy deposit customers migrating away from traditional banks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bendigobank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bendigo Bank