Financial Services News

Financial Services News

  • FST Media
  • 1 April 2021
New Zealand can count itself among the fortunate few nations to have escaped the worst of 2020’s Covid lockdowns. However, the pandemic has still had an immense impact on both business confidence and consumer habits, with financial services firms forced...
Read More
  • FST Media
  • 1 April 2021
The latter half of March saw noteworthy appointments and departures across Australia’s financial services sector, including ING and prudential watchdog APRA, with AMP also quashing rumours (later substantiated) that its CEO was set to make a hasty departure from the...
Read More
  • FST Media
  • 31 March 2021
The sudden exit of neobank Xinja from banking last year and NAB’s hoovering up of 86 400 appears to have done little to dent interest from alternative financial services providers and lenders in acquiring restricted or full ADI licences, says...
Read More
  • Nanda Lakhwani
  • 31 March 2021
Data ethics, digital identity, and costs of delivery emerged at the top of the pile of concerns among stakeholders as the UK looks to expand its Open Banking regime to cover ‘Open Finance’, the country’s chief financial regulator revealed in...
Read More
  • Nanda Lakhwani
  • 31 March 2021
While financial firms in Europe and the US have made great strides in advancing their analytics maturity, Australasian FSIs are falling behind their global counterparts, says ASB’s chief data and analytics officer, Anthony Branda, ultimately hampering their ability to leverage...
Read More
  • FST Media
  • 18 March 2021
The Commonwealth Bank has announced the rollout of a new “smart data” modelling solution that tracks, in real-time, official emergency alerts, enabling the bank to deliver same-day support to customers impacted by natural disasters. According to CommBank, its “custom-built algorithms”,...
Read More
  • FST Media
  • 17 March 2021
February and early March saw noteworthy appointments across Australia and NZ’s financial services sectors, with insurance giants QBE, IAG, and AIG Australia picking up several key executive additions. Australia – QBE Insurance has appointed Andrew Horton as Group Chief Executive...
Read More
  • FST Media
  • 17 March 2021
Mutual banks and credit unions recorded a massive spike in web traffic last year, the peak of Australia’s Covid lockdowns, with the top-rated bank seeing a nearly 200 per cent jump in web visits, a report by web analytics tracking...
Read More
  • FST Media
  • 17 March 2021
It is often said that data is the oil of the 21st Century. Yet, it is the digital engines – those artificial intelligence, machine learning, and API platforms – that will drive fundamental changes to business operating models and create...
Read More
  • FST Media
  • 4 March 2021
As the travel industry still reels from an unprecedented pandemic-triggered slump, with operating income reportedly down 90 per cent across last year, nib Travel chief Anna Gladman believes the sector will need to hold out for another “two to four...
Read More
  • FST Media
  • 3 March 2021
Medibank’s investment in its all-cloud infrastructure program, despite a major retooling along the way, has paid rich dividends for the health services group, with “efficiency gains” and “capability uplift” delivering $12.3 million ROI to the company – doubling an initial...
Read More
  • FST Media
  • 3 March 2021
2020 was a turning point for Australia’s life insurance industry. Traditionally averse to quick-fire innovation and ill-resourced to manage the customer surge during Covid, the life sector was forced to adapt and digitise at pace – all while resolving a...
Read More
  • Nanda Lakhwani
  • 17 February 2021
ASIC is seeking sanctions and penalties against the Commonwealth Bank of Australia (CBA) after a Federal Court ruling found the lender had severely overcharged business clients for overdrafts. The court found the unsanctioned charges were largely the result of “inadequate...
Read More
  • FST Media
  • 17 February 2021
Bendigo and Adelaide Bank managing director, Marnie Baker, has hinted at the company’s likely compliance timeline for Open Banking, revealing the bank will seek early participation as an accredited data recipient (ADR) “shortly after” it launches as accredited data holder...
Read More
  • FST Media
  • 14 February 2021
NAB’s most recent acquisition, 86 400, has enlisted Sydney-based digital identity developer, OCR Labs, to implement a new biometric verification system for mortgage applications. OCR’s Verification of Identity (VOI) system is expected to “streamline” the neobank’s mortgage application process, ensuring...
Read More