The beta launch, which will last for up to 90 days, follows on from Douugh obtaining the necessary accreditation via embedded finance experience platform partner Railsr (ASX: 4 November 2021) to be able to issue banking services to select Australian customers.

Commenting on the Company’s latest milestone, Douugh’s Founder and CEO Andy Taylor said:

“We are delighted to announce the launch of our app in Beta production in Australia, it’s been a long-time coming and we couldn't be more excited about introducing Australians to the Douugh service.”

“Hitting the market with a responsible financial super app that helps customers better budget, save and invest their money on autopilot has always been the dream and we think the timing is right with rising inflation and the end of excess consumer spending. People are looking for greater assistance to live financially healthier - helping them to spend more mindfully, save more and build long-term wealth.”

“The app will be made available to a small selection of users in the first Beta testing phase before being opened up to Goodments and waitlist customers, prior to a full market launch later in the year.”

“Douugh is seeking to help all Australians effortlessly and securely manage & grow their money without lifting a finger. Whether it’s help with budgeting for everyday spending and bills, automating saving, or investment options in US/AU stocks and crypto from as little as $1.”

“Customers can choose to pay their salary into Douugh, or direct debit from their existing bank account. Whether they choose to bank with Douugh daily, or want a companion financial app to organise their money - Douugh can support.”

“Similar to what Douugh customers in the US already enjoy, the service will be expanded to offer integrated rewards over time as well as Credit.”