AUSTRAC orders Afterpay audit following concerns over AML breach20/06/2019 Anonymous News
Australia’s financial crime investigation agency, AUSTRAC, has enlisted the services of an external auditor to vet the global ‘buy now, pay later’ payments giant, Afterpay, following concerns the fintech may be in breach of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006.
RBA chides major banks’ sluggish uptake of instant payments20/06/2019 Nanda Lakhwani News
The Reserve Bank of Australia (RBA) wants penalties imposed on Australia’s major banks if they fail to accelerate efforts to implement New Payments Platform (NPP) features, amid concerns the big four's dithering has hindered payments innovation across the financial sector.
Movers and Shakers | May–June, 201904/06/2019 Patrick Buncsi News
May saw a number of high-profile appointments and departures across the financial services sector, with noteworthy additions to ANZ, ME and Kiwibank.
NAB pilots fintech collaboration platform03/06/2019 Anonymous News
NAB is seeking the expertise and innovation potential of the global fintech industry, building a new portal to facilitate partnerships between financial technology companies and an alliance of three banking heavyweights.
Australia’s biggest motor insurance repair network launches digital claims platform31/05/2019 Anonymous News
AMA Group, the ASX-listed smash repair network and the go-to repairer for a number of Australia's top insurers, has teamed with 360globalnet, a digital developer and cloud services provider, to build a centralised digital claims platform that it expects will significantly reduce the time to estimate, approve, and allocate motor vehicle repairs.
NAB joins Apple Pay22/05/2019 Patrick Buncsi News
National Australia Bank has joined fellow majors CBA and ANZ in adopting Apple Pay, leaving Westpac as the only Australian big four yet to adopt the mobile payments service.
Kiwibank to go cheque-free by 202021/05/2019 Anonymous News
Kiwibank has announced that from March 2020 it will no longer issue and accept cheques across its banking network, citing a steady decrease in cheque use and customers’ increasing preference for digital payments services.
QBE develops automated claims processing tool20/05/2019 Anonymous News
QBE has overhauled its legacy property claims process, developing a new tool which can automatically handle non-complex claims.
CBA & World Bank deliver blockchain breakthrough in bonds trading20/05/2019 Anonymous News
The Commonwealth Bank, in partnership with the World Bank, has announced it has executed the world’s first debt bond trade through blockchain.
Why ING has assumed the mantle as Australia’s lead Open Banking advocate... and innovator09/05/2019 Anonymous News
A little more than a month away from the Open Banking pilot and eyes remain locked on the big four as they lead the implementation of Australia's first Government-mandated data-sharing regime. But could a challenger bank prove the catalyst for innovation in an Open Banking era?
CUA chief to step down09/05/2019 Anonymous News
Rob Goudswaard will step down as CUA’s chief executive, opting not to renew his five-year contract with the Brisbane-based credit union.
Movers and Shakers | April–May, 201909/05/2019 Patrick Buncsi News
April and early May saw a number of high-profile appointments and departures across the financial services sector, with notable additions to Westpac, Rest Super, and UniSuper.
In conversation with Alan Tsen, General Manager, Stone & Chalk – Part One08/05/2019 Marcel van Egdom News
"It’s a big move to be a bank. There’s often an underestimation of the rigours of the process; your posture as a business must change. The Royal Commission has highlighted the very strong duty to one’s customer, and tech companies won’t necessarily want to go that far in such a direction."
Ten British fintechs to enter Australia backed by UK government08/05/2019 Nanda Lakhwani News
Ten British fintechs are poised to enter the Australian market as part of the UK Government’s newly-launched Fintech Bridge Pilot Program, building upon a bilateral Fintech Bridge agreement signed last year between the Commonwealth nations.
Why people are the best asset (and biggest risk) in insurers' cyber defence – Stuart Harrison, CISO, Medibank30/04/2019 Anonymous News
For a defiant Stuart Harrison, Medibank’s chief information security officer, cybersecurity isn't something that you can simply "buy your way out of" or throw the latest tech solutions at. The strength of your cyber defence is, ultimately, contingent upon the quality of your people.