Heartland

What Heartland does

Heartland Bank Australia Limited is an Authorised Deposit Taking Institution regulated by APRA, headquartered at Level 20, 8 Exhibition Street, Melbourne. The bank is a wholly-owned subsidiary of New Zealand-listed Heartland Group Holdings Limited and is the only ADI within that group, having been rebranded from Challenger Bank to Heartland Bank. The company has operated continuously in Australia since 1971.

Its product portfolio is deliberately narrow and focused on four lines: reverse mortgages (the stated lead product, positioning the bank as a leading Australian reverse mortgage provider with a headline rate of 8.99% p.a.), fixed-rate term deposits, MySavings transactional savings accounts, and specialist livestock finance delivered in partnership with StockCo. Underlying technology consists of consumer-facing internet and mobile banking platforms, a dedicated mobile banking application for reverse mortgage customers, and Open Banking connectivity under the Consumer Data Right. Credit for reverse mortgages is originated either by the bank or its related entity ASF Custodians Proprietary Limited.

Commercially, the bank operates a direct-to-consumer model augmented by a broker network for reverse mortgage distribution via a dedicated Broker Portal. Revenue mechanics are characteristic of a deposit-taking lender: net interest margin from lending (reverse mortgages, livestock finance) offset by interest paid on deposits (term deposits, savings). The customer base is overwhelmingly retail and individual, anchored in Australian retirees aged 60+ for the reverse mortgage franchise, with additional retail savers and a smaller agricultural segment served via the StockCo partnership. The bank self-reports having helped more than 27,500 Australians with their retirement financing.

Name

Heartland

Legal name

Heartland Bank Australia Limited

Website

https://seniorsfinance.com.au

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

11–50 employees

Short description

Heartland Bank Australia is an APRA-regulated Authorised Deposit Taking Institution headquartered in Melbourne and owned by New Zealand-listed Heartland Group Holdings. It focuses on reverse mortgages for Australian retirees, term deposits, savings accounts, and livestock finance delivered through the StockCo partnership.

Ownership category

akta.pro rank

Product category

Specialty Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211)

SIC

State Commercial Banks (6022), Mortgage Bankers & Loan Correspondents (6162), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Reverse Mortgage Origination (HECM & Proprietary) (FSALAIAA)

Keywords

• Reverse mortgages
• Term deposits
• Savings accounts
• Livestock finance
• Retirement banking

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Reverse Mortgage Lending: Interest income from reverse mortgage loans extended to retirees, enabling them to unlock equity in their homes.
2. Term Deposits: Fixed-rate term deposits accepting customer savings, paying competitive interest rates.
3. Savings Accounts: MySavings account offering competitive interest rates on customer deposits.
4. Livestock Finance: Specialist livestock finance provided through StockCo partnership, offering flexible finance to grow herds and strengthen farms.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Heartland Bank Australia is an Authorised Deposit Taking Institution that offers a focused portfolio of banking products to Australian consumers and farmers. Its core offerings are reverse mortgages for retirees seeking to unlock home equity, fixed-rate term deposits, a MySavings savings account, and specialist livestock finance delivered through a partnership with StockCo, supported by internet and mobile banking and Open Banking capabilities.

Product overview

Heartland Bank Australia is an Authorised Deposit Taking Institution offering a focused portfolio of banking products for Australian consumers and farmers. The core product lineup consists of Reverse Mortgages (the company's leading product, allowing retirees to access home equity), Term Deposits (competitive fixed-rate savings products), and MySavings accounts (growth-focused savings). The company also provides Livestock Finance through a partnership with StockCo for agricultural customers. Digital services include Internet and Mobile Banking platforms (with separate portals for standard banking and reverse mortgage customers) and Open Banking capabilities under the Consumer Data Right framework.

Differentiator

Problem solved

Functional benefit

Brands

• MySavings: Savings account product offering simple ways to grow money
• Heartland Reverse Mortgage

Products and services

• Reverse Mortgages Reverse mortgage product that allows homeowners, typically retirees, to access the equity in their home for financial flexibility without selling the property. Standard interest rate of 8.99% p.a. with 9.02% comparison rate (based on a loan of $150,000 over a 5-year term). Credit is provided by Heartland Bank Australia Limited or its related entity ASF Custodians Proprietary Limited.
• Term Deposits Fixed-rate term deposit products that allow customers to lock in competitive rates and build savings with confidence. Offered to Australian consumers and managed through the Heartland Bank Internet Banking portal.
• MySavings Account Savings account offering competitive interest rates on customer deposits, designed to help customers grow their money and support future financial plans.
• Livestock Finance Specialist livestock finance offered through the StockCo partnership, providing flexible finance to Australian farmers to grow herds and strengthen farm operations. StockCo is the operational provider of livestock finance products under the partnership.
• Internet and Mobile Banking Self-service digital banking platform for Heartland Bank customers to manage term deposits, savings, and reverse mortgage accounts online via web and mobile applications.
• Open Banking (Consumer Data Right) Open Banking capability enabling customers to share their financial data securely with accredited providers under Australia's Consumer Data Right framework.

Quantifiable outcome

• Helped over 27,500 Australians with their retirement financial needs

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• StockCocoreStrategic or Co-development PartnerHeartland Bank partners with StockCo to provide specialist livestock finance, enabling flexible finance solutions for farmers to grow their herds and strengthen farm operations. StockCo appears to be the operational provider of livestock finance products under this partnership.
• ASF Custodians Proprietary LimitedminorStrategic or Co-development PartnerASF Custodians Proprietary Limited ABN 49 106 822 780 (Australian Credit Licence 386781) is a related entity that provides credit under Heartland Bank's reverse mortgage products.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Commonwealth Bank of Australia: Australia's largest bank with a broad portfolio including retirement/equity-release products and competitive term deposits. Indirect competitor that anchors deposit-rate expectations across the market.
• Australia and New Zealand Banking Group (ANZ): One of Australia's four major banks offering reverse mortgages and a full retail deposit and lending suite. Competes with Heartland for reverse-mortgage customers and term-deposit funding.

Direct peers

• Bendigo and Adelaide Bank: Australian regional ADI with diversified retail banking including deposits, lending, and agribusiness. Comparable mid-sized Australian bank with a livestock and rural finance presence overlapping with Heartland's StockCo business.
• Household Capital: Australian specialist in retirement equity release and reverse mortgage products. Direct competitor to Heartland Bank in the same niche segment serving retirees seeking to unlock home equity.
• Regional Australia Bank: Australian mutual ADI serving regional and rural customers with deposits and agribusiness lending. Comparable niche Australian bank with a livestock/agriculture customer overlap with Heartland.
• Great Southern Bank: Australian customer-owned bank providing term deposits, savings, and home loans. Similar mutual/ADI structure and Australian retail deposit-gathering business model to Heartland.
• People's Choice Credit Union: Australian customer-owned banking institution offering savings, term deposits, and personal lending. Comparable mid-sized Australian ADI competing for similar retail deposit and lending customers.
• Heritage Bank: Australian mutual ADI (customer-owned bank) offering deposit and lending products to retail customers. Comparable as a mid-sized Australian deposit-taking institution with similar scale and customer profile.

Others

• StockCo: Heartland's jointly-controlled subsidiary providing specialist livestock finance. Listed as a peer because it represents Heartland's agribusiness vertical and operates as a distinct brand/operating unit.
• Heartland Group Holdings: NZ-listed parent company of Heartland Bank Australia. Comparable as the corporate parent providing capital, governance, and strategic direction; its NZ operations also offer reverse mortgages, creating intra-group product overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/heartlandsenior
• YouTubeyoutube.com/@HeartlandBankAustralia
• Facebookfacebook.com/HeartlandBankAustralia
• LinkedInau.linkedin.com/company/heartland-bank-australia
• Instagraminstagram.com/heartlandbankaustralia

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Heartland