Financial Services News

Financial Services News

  • FST Media
  • 15 October 2020
At our recent Sydney Banking Summit, AMP’s Jacqui Visch and ING Australia’s Sasitharan Sanmugaratnam, among the industry’s most respected voices in data and digital innovation, came together to explore their the digital-only banks’ tech transformation agendas and big data-readied infrastructure...
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  • FST Media
  • 7 October 2020
One of the chief technologists overseeing the Consumer Data Right’s (CDR) implementation has quashed suggestions of a supposed “backlog” in accredited data recipient (ADR) applications, stressing that processes remain on track and urging eligible business to move their applications forward...
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  • FST Media
  • 2 October 2020
Australia’s Consumer Data Right (CDR) rules have been relaxed to allow accredited intermediaries to collect data on behalf of third-party data recipients – the first in a series of anticipated amendments to the data-sharing regime. The rule change, which comes...
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  • FST Media
  • 2 October 2020
September saw a number of key appointments and departures across Australia’s financial services sector, with noteworthy additions to Westpac, Latitude, and IAG. Appointments Westpac has appointed of Chris de Bruin as Chief Executive of its Consumer division. A 24-year veteran...
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  • Murali Ramesh
  • 28 September 2020
Execution is the key [in Open Banking]. APIs are just one trivial part and building them will not get any value unless an ecosystem for Open Banking is created. Singapore is widely considered the world’s leading light in Open Banking...
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  • Megan Andrew
  • 23 September 2020
Australia’s national science research agency, the CSIRO, and space industry consortium, SmartSat, have launched a “world-first” initiative utilising sensor technologies from the ground to space to help monitor the water quality of Australia’s inland waterways, reservoirs, and coastal environments. Dubbed...
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  • FST Media
  • 23 September 2020
Australia’s first ADI-accredited neobank, Volt, has announced it is developing a “next-generation” Banking-as-a-Service (BaaS) platform that could allow its business partners to offer Volt’s deposit products directly to their own customers and give incumbents a legacy-free environment to “accelerate” their...
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  • FST Media
  • 23 September 2020
Westpac has sought expertise from abroad to lead its largest division, appointing 25-year veteran of financial services, Chris de Bruin, as chief of consumer. De Bruin joins Westpac from Deem, one of the largest lenders and credit institutions in the...
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  • FST Media
  • 22 September 2020
The modern workplace is increasingly flexible, collaborative and dynamic, and new technologies afford us the opportunity to collaborate and communicate effectively while working from home. However, for many employers and workers, that parity between effectiveness in an office environment versus...
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  • Murali Ramesh
  • 18 September 2020
We are all working through a period of radical uncertainty. Being crystal clear on our organisational purpose has never been more important for us to continue to deliver for our customers and the community.   FST speaks with Alex Homer,...
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  • FST Media
  • 18 September 2020
Australia’s financial crimes investigation authority, AUSTRAC, has charged State Street Bank and Trust Company (SSBT) with an alleged 99 breaches of Australia’s AML-CTF Act, issuing a $1.24 million fine to the US-headquartered custodian bank. AUSTRAC has alleged State Street failed...
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  • FST Media
  • 18 September 2020
Global anti-money laundering and counter-terrorism financial authority, FATF, has created a ‘red flag’ list to help financial institutions and currency trading entities identify suspicious, and potentially criminally linked, virtual asset transactions. The Financial Action Task Force’s (FATF) virtual asset ‘red...
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  • FST Media
  • 17 September 2020
NAB has achieved an Australian big four first, it says, successfully migrating its business banking platform, NAB Connect, to AWS cloud. Connect’s new cloud home is expected to deliver greater “resilience and reliability” for NAB’s business banking platform, which currently...
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  • FST Media
  • 4 September 2020
NAB has hit a major milestone in its cloud migration journey, with the big four’s enterprise technology chief Steve Day revealing 40 per cent of its apps have now been moved to the cloud. However, the biggest hurdles lay ahead...
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  • FST Media
  • 4 September 2020
Automation is often touted as the panacea for countless ills facing the modern enterprise – from labour-sapping paper processes to business-crippling human errors. However, Dr Venkat Balakrishnan, TAL’s chief information security officer (CISO), has cautioned FSIs forcing wholesale automation upon...
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