Financial Services News

Financial Services News

  • FST Media
  • 24 November 2021
Australia’s big four banks (CBA, Westpac, ANZ, and NAB) have all received passing grades by the Office of the Australian Information Commissioner (OAIC) for their data handling practices under the Consumer Data Right regime, following a recent audit. “Our privacy...
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  • Steve Weston
  • 24 November 2021
The future of banking will not be created by throwing a digital facade on the tired and old incumbent model, writes Steve Weston, Volt Bank Founder and Chief Executive. In fact, it won’t even be created within any single retail...
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  • FST Media
  • 24 November 2021
Australian Financial Complaints Authority (AFCA) has unveiled a new near-real-time data-enabled digital platform to support financial firms in managing disputes that are referred to the independent ombudsman. Dubbed AFCA Member Benchmarking Dashboard, the interactive platform will give financial firms access...
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  • Nanda Lakhwani
  • 24 November 2021
Challenger business lender Judo will leverage live data insights from e-commerce and accounting platforms to offer proactive advice and drive “quality” conversations with customers, teaming with a UK fintech Codat to deliver the new capability.   Enlisting London-born fintech Codat, Judo’s...
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  • Nanda Lakhwani
  • 24 November 2021
In a bid to bolster security and anti-fraud controls on its transaction network, payments utility Eftpos is launching a series of protective enhancements, to be made available through select industry partners. For now, Eftpos’ newly available are being adopted by...
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  • FST Media
  • 23 November 2021
The Bank for International Settlements (BIS) is seeking industry feedback on a proposed extension to the operating hours of the world’s real-time gross settlement (RTGS) systems, arguing the move would “increase the speed of cross-border payments” and “reduce settlement risks”....
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  • FST Media
  • 10 November 2021
A month later than initially anticipated, Afterpay has announced the official Australian debut of its social media-inspired ‘Money’ app, showcasing the BNPL giant’s latest efforts to expand beyond its pay-in-four roots. Twelve months in development and four months since the...
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  • FST Media
  • 10 November 2021
The Commonwealth Bank of Australia (CBA) has secured an exclusive partnership deal with Silicon Valley-based artificial intelligence (AI) developer H2O.ai, giving the ‘big four’ bank’s Australian and NZ arms access to a powerful new AI brains trust. The deal will...
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  • FST Media
  • 10 November 2021
With data emerging as the corporate world’s most valuable commodity, the shift to full cloud infrastructure (increasingly critical to support and decode this influx of data) is all but assured for the financial services sector. We’ve taken a snapshot of...
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  • Nanda Lakhwani
  • 10 November 2021
Digital bank Volt and broker network Australian Finance Group (AFG) have promised to slash home loan approval times to under an hour as part of the launch of two new consumer offerings leveraging Volt’s Banking-as-a-Service (BaaS) platform. Four months into...
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  • FST Media
  • 8 November 2021
With an unprecedented number of knowledge workers experiencing remote working (many for the first time) during the Covid-19 crisis, and with many realising newfound benefits from these arrangements, companies in a post-lockdown world will face mounting pressure to offer fully...
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  • FST Media
  • 27 October 2021
Aussie buy now, pay later (BNPL) service, Openpay, has announced it has accepted its first live transactions through its recently established US arm, OpyPay. Getting its first foot into the US’s massive healthcare market, OpyPay has linked up with cloud-based...
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  • FST Media
  • 27 October 2021
Financial services businesses should not waste star tech recruits on advisory or “coaching” roles, but instead embed these “role models” directly into engineering teams to help accelerate digital transformation initiatives, says MetLife Australia chief information officer, Tim Batten. With FSIs...
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  • Patrick Buncsi
  • 27 October 2021
In the month after receiving their annual tax refunds, Commonwealth Bank of Australia (CBA) customers that received in-app prompts repaid on average $541 on their credit card debt, research from the big four bank has revealed. The bank’s findings stem...
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  • FST Media
  • 27 October 2021
Global software provider SS&C Technologies Holdings announced the Australian Catholic Superannuation and Retirement Fund (ACSRF) has extended its partnership with SS&C’s technology platform, Bluedoor, to implement a new mobile app for its members. SS&C Bluedoor’s suite of digital solutions includes...
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