Heartland
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.
- Company typePrivate
- Founded1971
- HeadquartersMelbourne, Australia
- Headcount11–50
- GTM typeB2C
- OfferingServices
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.
Heartland firmographics
Firmographics- 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
Heartland industry classification
Industry- 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
Where Heartland is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Heartland business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Reverse Mortgage Lending: Interest income from reverse mortgage loans extended to retirees, enabling them to unlock equity in their homes.
- Term Deposits: Fixed-rate term deposits accepting customer savings, paying competitive interest rates.
- Savings Accounts: MySavings account offering competitive interest rates on customer deposits.
- Livestock Finance: Specialist livestock finance provided through StockCo partnership, offering flexible finance to grow herds and strengthen farms.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Reverse Mortgage Interest Rate |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Heartland product offering
Product offeringCore 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
Companies that use Heartland
Customer profileSegments3 records
Ideal customer profiles3 records
Heartland technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Heartland partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- StockCocoreHeartland 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 LimitedminorASF 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
Heartland competitors and assessment
Company assessmentBroad 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
Heartland social profiles
Digital presenceHeartland compliance and trust
Trust signalCompliance3 records
Heartland financial estimates
Financial estimateRevenue estimate
Valuation estimate
Heartland leadership team
Management profileNumber of profiles
Heartland subsidiaries and ownership
Company hierarchySubsidiaries1 record
Heartland funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Heartland M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Heartland
What does Heartland do?
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.
Is Heartland a public or private company?
Heartland is a private company. It is classified as corporate owned and is currently operating.
When was Heartland founded?
Heartland was founded in 1971. It employs 11 to 50 people.
Where is Heartland based?
Heartland is headquartered in Melbourne, Australia, in the Oceania region.
How does Heartland make money?
Four revenue lines are on record. Reverse Mortgage Lending is the primary driver. The others are term Deposits, savings Accounts and livestock Finance.
Who are Heartland's main competitors?
Broad incumbents on record are Commonwealth Bank of Australia and Australia and New Zealand Banking Group (ANZ). Direct peers are Bendigo and Adelaide Bank, Household Capital, Regional Australia Bank, Great Southern Bank, People's Choice Credit Union and Heritage Bank. Others are StockCo and Heartland Group Holdings.
Does Heartland have an API?
No public API is recorded for Heartland.
What industry is Heartland in?
Heartland's product category is Specialty Retail Banking. Its primary akta.pro industry code is FSALAIAA, Reverse Mortgage Origination (HECM & Proprietary). Its NAICS code is 52218 and its SIC code is 6022.