Our Growth is a Direct Result of Listening to Our Customers and Consistently Improving Based on Their Feedback: Dominic Pym, Co-Founder of Up

Up is a digital bank built to make managing money simple, transparent, and engaging for Australians. Launched in 2018, Up combines cutting-edge technology with an intuitive design to offer a seamless banking experience that empowers users to take control of their finances. Developed by innovators rather than traditional bankers, Up focuses on giving customers tools to save, spend, and plan more efficiently. With features like real-time transaction tracking, automated savings tools, and personalized insights, Up transforms banking into a user-friendly, forward-thinking experience designed for everyday life.

SME Business Review reached out to Dominic Pym, co-founder of Up, for an insightful conversation. Here’s what he had to share about Up’s approach to revolutionizing banking in Australia.

Interview Excerpts

Up has been incredibly successful in reshaping the banking experience for Australians. What inspired the creation of Up, and what was the main goal when you founded it?

When we created Up, we wanted to challenge the traditional banking model that had been in place for so long. The traditional banks just weren’t meeting the needs of everyday Australians. Too many hidden fees, complex terms, and outdated technology made managing money stressful. We envisioned a bank that would be transparent, easy to use, and designed to make managing money as simple as possible. Our main goal was to create a bank that people could trust, one that would truly work for them, not against them.

How has technology shaped the way Up delivers banking services to customers?

Technology is at the heart of everything we do. Our approach is built on the idea that technology should make things easier, not more complicated. By creating a mobile-first platform, we’re able to give customers a smooth and intuitive way to manage their money on the go. We use artificial intelligence and machine learning to offer personalized recommendations and insights into their financial habits. All of this is made possible by leveraging the best technology available, which is how we can offer a completely new type of banking experience.

How does Up help users improve their financial health, and what makes it different from traditional banks in this aspect?

We understand that managing finances can be daunting for many people, and that’s why we provide a platform that empowers users. Our app offers powerful tools to track spending, set savings goals, and gain insights into their financial habits. We don’t just stop at providing tools – we go a step further by offering suggestions on how users can save more based on their actual spending patterns. This level of personalization and support is something you won’t find with traditional banks. We give people the resources and the knowledge they need to make better financial choices.

What is Up’s approach to educating customers about financial literacy, and why is this so important to you?

Financial literacy is something that’s often overlooked in traditional banking, but we know how crucial it is. A lot of people don’t feel confident managing their money because they haven’t had access to the right resources. That’s why we’ve integrated educational content into our app, so users can learn more about personal finance as they go. Whether it’s understanding how interest works or learning how to set financial goals, we provide the tools to help customers become more financially savvy. This empowerment is a big part of why we exist – we want to help people take control of their finances and feel confident in their ability to make smart money decisions.

Up has experienced significant growth since its launch in 2018. What do you attribute this success to, and what has been the key driver behind it?

Our growth is a direct result of listening to our customers and consistently improving based on their feedback. We’ve created a bank that is designed around the needs of modern Australians. People are looking for a simpler, more transparent way to manage their finances, and that’s exactly what we provide. Our focus on transparency, customer empowerment, and technology has resonated with people, particularly younger generations who want more control over their financial lives. We’ve built a product that people are excited about, and that’s been the key to our success.

As a leader in the digital banking space, what do you see as the future of banking in Australia, and how do you think Up will continue to innovate?

The future of banking in Australia is definitely moving towards more digital-first experiences. People want convenience, control, and simplicity, and that’s exactly what we aim to provide. We believe that traditional banks will have to evolve to meet these expectations, or they risk being left behind. For us, innovation will always be at the core of what we do. We’re constantly looking for ways to improve the customer experience and add value through new features. The goal is to keep up with the changing needs of Australians and continue to be at the forefront of the digital banking revolution.

What is your vision for Up moving forward, and how do you plan to continue expanding your reach?

Our vision for Up is to continue growing while staying true to our core values. We want to build a bank that is truly customer-centric, one that continually adapts to the needs of our users. We plan to keep expanding our reach by offering more tools and services that help Australians manage their money with ease. As we continue to innovate, our focus will remain on making banking simpler, more transparent, and more empowering for everyone who uses our platform. We’re excited about the future and the opportunities that lie ahead for Up.

Dominic Pym, Co-Founder, Up

We give people the resources and the knowledge they need to make better financial choices.