Financial Services News

Financial Services News

  • FST Media
  • 21 July 2021
The Australian mutual banking sector’s go-to customer relationship management platform, Prosper CRM, has undergone a major revamp, adding new core banking integration and unified customer view capabilities, with Heritage Bank announcing it is among the first local adopters of the...
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  • Nanda Lakhwani
  • 21 July 2021
ANZ has spun off its ventures and investment arm ANZi into a separate entity, as the bank moves to forge stronger fintech partnerships and accelerate its own digital transformation initiatives. Ron Spector, managing director of ANZi, will stay on to...
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  • Nanda Lakhwani
  • 21 July 2021
Australian buy now, pay later (BNPL) outfit Afterpay has launched an in-house pilot of its ‘Money by Afterpay’ app – the BNPL giant’s first foray into consumer banking. The staff-only pilot of the new Afterpay app, simply known as ‘Money’,...
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  • FST Media
  • 20 July 2021
Zurich Australia’s general insurance chief Tim Plant has jumped ship to local rival Insurance Australia Group (IAG), taking on the newly created role of chief insurance and strategy officer. As IAG’s new strategy head, Plant will take charge of governance...
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  • FST Media
  • 20 July 2021
Ahead of the October deadline for new data reporting standards for internal dispute resolution (IDR), ASIC has released key documents, including a pilot version of a ‘data dictionary’, to help financial firms comply with the new regulations. The new data...
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  • FST Media
  • 7 July 2021
After a nearly two-year wait, digital-only lender, Alex Bank, has announced it has secured its restricted authorised deposit-taking institution (rADI) licence from APRA, with its eyes on a quick move to unrestricted status. Alex appears keen to fast-track its route...
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  • FST Media
  • 7 July 2021
Machine learning offers “the greatest advantage” to financial services in tackling money laundering and terrorism financing risks through existing systems, a new report by the global AML/CTF watchdog has found. However, organisations must be conscious of “bad data” that could...
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  • Patrick Buncsi
  • 7 July 2021
In a bid to strengthen “consumer control over their data”, the New Zealand Government has announced it has commenced work on legislation to establish a home-grown consumer data right (CDR) – a scheme that will largely be in alignment with...
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  • FST Media
  • 6 July 2021
June saw a number of noteworthy additions across Australia and NZ’s financial services sectors, with Judo Bank and CFS Superannuation also announcing major rejigs of their executive teams, and NAB revealing it will split its Chief Data Officer role –...
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  • Mike Taylor
  • 6 July 2021
The banking group, which only weeks ago announced its intention of staying in New Zealand, announced it will sell its Westpac Life-NZ-Limited arm to Fidelity Life Assurance and enter into an exclusive 15-year agreement for the distribution of life insurance...
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  • Mike Taylor
  • 6 July 2021
With competition heating up between financial services technology providers and some research houses, the company which provides key funds manager identifier codes, APIR Systems, has launched a new product to help clients deal with Design and Distribution Obligations (DDO). Following...
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  • FST Media
  • 6 July 2021
The Australian Banking Association (ABA) has called on industry stakeholders to offer feedback on the next iteration of the Banking Code of Practice, adding several new provisions to address the ethical use of tech and data by banks. Under proposed...
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  • FST Media
  • 23 June 2021
Three out four Australian consumers expect home loan applications to be processed within just three days, with more than half anticipating a 24-hour turnaround, a new survey has revealed. Credit reporting company Experian, in a poll of 1,000 Australian consumers,...
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  • Patrick Buncsi
  • 23 June 2021
We had about 95 per cent of our people working from home right when level four lockdowns started. New Zealand has been a shining example to the world of successful Covid containment – though, some would argue, at the cost...
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  • Nanda Lakhwani
  • 23 June 2021
Australia’s peak fintech body is pushing for the Government to require device manufacturers to open access to near-field communication (NFC) technology on mobile devices, citing a “lack of competition” in digital payments as a key factor holding back domestic start-ups....
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