ubank, an Australian direct bank owned by National Australia Bank (NAB), today unveiled a new image following the takeover of neobank 86,400.

The merger comes after ubank announced its intentions to acquire 86,400 in January 2021 for $220 million, with regulatory approvals received nearly a year ago.

ubank’s new logo may have a touch of nostalgia for those familiar with the sans-serif simplicity of 86400. But the identity isn’t the only piece of 86400 ubank has embraced.

According to a 2021 NAB press release, they planned to use the 86,400 acquisition to “accelerate the growth of their digital bank, ubank, by combining ubank’s established customer base and name with the technology and ability to innovate.” of 86,400″.

ubank will take over 86,400 products, including bank accounts, time deposits, savings accounts, and mortgage loans.

For those with existing ubank products like USave and USpend accounts, and UHomeLoans, the ubank online banking portal and the ubank app will continue to be available and function the same, depending on your website.

ubank will continue to operate as a digital bank, which means they will not have physical branches or ATMs. Instead, they focus on providing customers with “a complete bank on their mobile.”

This avoids some of the hurdles that often come with bank mergers, such as branch closures or ATM availability issues, which should be good news for customers of both financial institutions.

With its rebranding also comes a new-look app: an updated version of the original 86 400 app with ubank’s new name and color scheme.

ubank is promoting a two-minute sign-up time in the app for your Spend and Save accounts, access to payment features on a variety of smart devices (such as Fitbit Pay and Apple Pay), shared accounts with your partner, banking information, connected accounts from other financial institutions, among more features within the application.

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