Siddharth Varadkar

1st December, 2021

Siddharth is a seasoned professional with over 15 years of experience in product management, data analytics, and sales strategy across a range of industries, including technology, insurance, real estate, hospitality, e-commerce, and sports. He has worked across different geographies, including America and various cities in India, providing him with a global perspective on business and technology. Siddharth has worked in various roles, including project management, business development, and designing technical solutions for leading organizations such as Patni Computer Systems, iGate, MetLife, State Farm, Assurant, Lodha Group, and Sportobuddy. His cross-industry experience and expertise in managing large-scale projects make him a valuable asset to any team. Siddharth holds a postgraduate degree in software engineering from Birla Institute of Technology and Science, Pilani (BITS), and has completed as well as a master’s degree in marketing from S P Jain School of Global Management. Overall, Siddharth’s diverse experience, global perspective, and expertise in product management, data analytics, and sales strategy make him a versatile and valuable asset to any organization.

What's a
Restricted ADI?

International Bank of Australia is authorised by the Australian Prudential Regulation Authority (APRA) to operate under a Restricted Authorised Deposit-taking Institution licence until 2nd November 2024. Under this authority International Bank of Australia has restrictions on the amount of deposits it can take. Under this restricted licence International Bank of Australia is not required to meet the full ADI prudential framework and will not be offering banking products to the general public.

International Bank of Australia has put in place arrangements to protect customers in the event it is required by APRA to discontinue banking business and exits the banking industry. This includes:

- International Bank of Australia being required by APRA to contact customers to advise how they are impacted, e.g. deposits may be returned or transferred to another bank;
- the Banking Act 1959 provisions for the protection of depositors apply to International Bank of Australia; and
- International Bank of Australia is covered by the Australian Government Financial Claims Scheme (FCS). The FCS applies only to protected accounts. It is important customers check the terms and conditions of their specific product to determine if it is protected under the FCS.

You can read more about how banks are licensed on this page on the APRA website:
Licensing guidelines for authorised deposit-taking institutions | APRA
Please reach out to us if you have further questions.  You can use the ‘Contact Us’ form to ask us any questions you have.

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