Westfield retail outlet tenants will participate in an eight-week trial using blockchain to revamp bank guarantees issuance and management processes. The real-world pilot follows a successful proof-of-concept involving ANZ Bank, Westpac, IBM, and Scentre Group conducted in 2017.
For a third consecutive year, CommBank has been rated Australia's top mobile banking app, receiving unalloyed praise for both its user experience and functionality despite lacklustre advancements across the big fours' mobile offerings this year.
The Bank of Queensland (BOQ) will pursue a full build-out of its digital banking arm Virgin Money Australia (VMA) following a successful proof of concept by the banking group, chief executive George Frazis has revealed during BOQ’s full-year results presentation for FY19.
The latest figures from APRA reveal a substantial drop in the presence of Automatic Teller Machines (ATMs) and EFTPOS terminals across Australia, with banks looking to scale back dedicated service points in favour of cost-efficient, mobile-based money transfer apps and non-branch partner services.
Despite customers overwhelmingly trusting major institutions to protect their data and financial assets, upwards of two-thirds of consumers fear banks “do not have their best interests at heart”, according to findings from Deloitte’s 2019 Open Banking survey.