NPPA sets ‘write access’ rules for Open Banking third parties27/05/2020 Nanda Lakhwani News
Enabling 'write access' for third parties through the Mandated Payments Service (MPS), a core capability of the New Payments Platform, could spark a flurry of innovation in payments services from fintechs and paytech developers, a submission from the NPPA has revealed.
CBA records 10m peak digital logins, as it offloads Colonial & AUSIEX in 'simplicity' drive19/05/2020 Nanda Lakhwani News
Australia’s biggest bank has earmarked $1.5 billion in loan losses resulting from coronavirus-fuelled economic contraction whilst touting a slew of digital feats in its FY20 third quarter update.
ING accepts e-signatures for mortgage applicants19/05/2020 Nanda Lakhwani News
In a bid to assist lockdown-beleaguered brokers and customers, ING Australia has moved to accept digital signatures for online mortgage applications.
Global financial industry faced massive cyberattack influx amidst Covid crisis19/05/2020 Anonymous News
The Covid-19 lockdown period has seen a whopping 238 per cent jump in cyberattacks targeting financial services institutions, with a new report revealing a surge in malicious cyber incidents between February and April this year.
Westpac CIO & consumer head to depart, new compliance chief appointed as AUSTRAC court date looms19/05/2020 Anonymous News
Westpac has faced a massive blow to its executive leadership, with chief information officer Craig Bright set to jump ship after less than two years in the role.
Is Australia taking the right approach to Open Banking? – Insights from the Future of Open Data panel13/05/2020 Anonymous News
After seemingly endless delays, Open Banking – the first iteration of Australia’s broader Consumer Data Right (CDR) regime – is a little over a month away from its official all-industry launch.
Suncorp pulls plug on troubled Oracle overhaul; banking chief Hatton to depart13/05/2020 Nanda Lakhwani News
Suncorp has announced a $90 million write-down for its troubled Oracle core platform replacement while flagging an estimated $40-70 million in remediation and repair costs for its payroll systems – part of a total anticipated expense sheet of $2.7 billion over FY20.
CBA backs homegrown start-up Slyp for paperless receipts12/05/2020 Nanda Lakhwani News
Joining the ranks of its major rivals, Australia’s largest bank has partnered with local fintech provider Slyp to deliver interactive 'smart receipts' to its more than seven million digitally active customers.
Westpac's $138m tech booster shot eases Covid pain as profits nosedive06/05/2020 Anonymous News
Despite – or perhaps owing to – Covid-19 shutdowns, Australia’s oldest bank has posted a notable 12 per cent jump in its technology investments over the past year, with Westpac reporting a $138 million increase in tech expenses during its half-year company update.
Global financial systems overseer develops cyber response & recovery toolkit06/05/2020 Nanda Lakhwani News
The Financial Stability Board (FSB), the Basel-based global financial systems authority, is seeking public input on a set of 46 cyber incident response and recovery (CIRR) practices which aim to help financial institutions and government authorities worldwide uplift their collective cyber readiness.
Movers & Shakers, Financial Services | April–May, 202005/05/2020 Anonymous News
April saw a number of high-profile appointments and departures across the financial services industry, with noteworthy additions to the big four banks, IAG, and Suncorp.
ANZ expands data chief’s role, bets big on data for Covid-19 resurgence05/05/2020 Nanda Lakhwani News
Central to the bank’s crisis response strategy outlined in its half-year results announcement, the Australia and New Zealand Banking Group (ANZ Bank) has appointed former chief data officer, Emma Gray, to the newly minted role of group executive, data and automation.
Covid-19 nudges Westpac to activate Apple Pay, with eftpos functionality to boot29/04/2020 Nanda Lakhwani News
Australia’s oldest bank has joined the ranks of its major rivals, finally switching on Apple Pay in response to rising customer preferences for non-cash payment options.
Threat report: ATM/PoS malware attacks spike between 2017-201928/04/2020 Anonymous News
Cash dispensing terminals have become increasingly ripe targets for cybercriminals, with cybersec firm Kaspersky reporting a 250 per cent jump in malware-based attacks targeting Automatic Teller Machine (ATM) and Point of Sale (POS) terminals between 2017 and 2019.
Bankwest deploys digital verification tool for mortgage applicants28/04/2020 Nanda Lakhwani News
WA-based CBA subsidiary Bankwest has rolled out a stop-gap electronic identification (eID) solution for new home loan applicants, allowing brokers to verify customer identities swiftly and remotely amid coronavirus restrictions.