Financial Services News

Financial Services News

  • FST Media
  • 13 October 2021
The Commonwealth Bank’s risk team has made significant progress in its visualisation and dashboarding program over the last two years, claiming a “great track record” in automating its risk reporting function across “all stacks”, according to Fergus Kennedy, CBA’s general...
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  • FST Media
  • 13 October 2021
A majority of Australia’s financial services are still struggling to deliver optimal systems to support their staff, rating their existing back-end operations “clunky”, though efforts are being made to simplify processes and boost employee efficiency, results from a live industry...
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  • FST Media
  • 13 October 2021
The Commonwealth Bank (CBA) has released details on an artificial intelligence (AI) model it has used to root out abusive messages sent via online financial transactions, with Australia’s biggest bank revealing the technology was used to block more than 100,000...
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  • Nanda Lakhwani
  • 13 October 2021
Capitalising on consumer behaviour changes prompted by the pandemic, eftpos is set to publicly roll out its new Quick Response (QR) payments platform by December this year, having secured the backing of major banks, fintechs and retailers. eftpos shareholders The...
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  • Nanda Lakhwani
  • 13 October 2021
The Commonwealth Bank of Australia (CBA) is tapping automation capabilities from Xero-owned fintech Waddle for a new product that enables businesses to see their credit limits adjust in “real time” based on the value of their outstanding invoices. CBA’s new...
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  • FST Media
  • 13 October 2021
Australia’s financial services and other major corporate businesses could be exposed to a significant loss of knowledge workers once Covid restrictions ease, according to one of the industry’s leading recruitment firms, with the country’s talent shortage set to ‘’worsen” not...
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  • FST Media
  • 29 September 2021
Aussie insurance giant IAG has been recognised by global peers as a world leader in cyber intelligence-sharing, with global financial services body, the FS-ISAC, recording a significant ramping up of intelligence sharing efforts over the last year spurred by surging...
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  • Nanda Lakhwani
  • 29 September 2021
Payments utility eftpos, jointly owned by Coles, Woolworths and Australia’s big four banks, has been accredited under the Federal Government’s Trusted Digital Identity Framework (TDIF), becoming Australia’s first private operator of a digital identity exchange. Under the TDIF, the Australian-born...
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  • FST Media
  • 29 September 2021
Australian consumers have lost a record $211 million to scammers this year, with the Australian Competition and Consumer Commission’s (ACCC’s) Scamwatch service reporting an 89 per cent uptick in the dollar value lost to scams. More than $211 million was...
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  • Nanda Lakhwani
  • 29 September 2021
Australia’s prudential regulator, APRA, has given digital-only upstart Avenue Bank the green light to commence its operations offering short-term financing to small businesses, with plans underway to obtain a full banking license by next year. The business lender is pitching...
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  • FST Media
  • 15 September 2021
The Australian Competition and Consumer Commission (ACCC), overseer of the Consumer Data Right (CDR) scheme, has approved the National Australia Bank (NAB) as an Accredited Data Recipient. NAB becomes the second ‘big four’ Australian bank, after the Commonwealth Bank secured...
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  • FST Media
  • 15 September 2021
An emerging voice in financial services industry news, led by acclaimed media veteran and financial services industry authority Mike Taylor, has this week launched its inaugural daily eNewsletter. Financial Newswire, powered by FST Media, brings fresh, no-holds-barred insight into Australia’s...
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  • FST Media
  • 15 September 2021
An ex-Reserve Bank of New Zealand economist and veteran of Europe’s regulatory sector has been appointed to lead New Zealand’s Financial Markets Authority (FMA). Samantha Barrass will become the FMA’s third chief executive, succeeding the widely respected incumbent Rob Everett...
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  • Nanda Lakhwani
  • 15 September 2021
The Australian Cyber Security Center (ACSC) responded to nearly 30 per cent fewer cybersecurity incidents over the 2020-2021 financial year, but the severity of these incidents has only increased. The Federal Government’s chief cybersecurity agency responded to 1,630 security incidents...
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  • Nanda Lakhwani
  • 15 September 2021
With digital forming the pillar of its new strategy, eftpos is inviting fintechs and other developers to test quick response (QR) code and e-commerce solutions on the payment system’s rails, releasing two new APIs this week. Through a newly launched...
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