Financial Services News

Years of IT security failures and breaches in the financial services sector have culminated in a climate fraught with complacency, according to Midwinter.

Melbourne-based fintech MoneyPlace has signed a five year strategic partnership with Auswide Bank, with the bank committing to provide up to $60 million towards the fintech’s consumer lending operations.

Australia’s endemic, risk-averse culture has stunted the extent of our innovation in financial services, with the significance of startup hackathons historically under-appreciated.

Gender diversity will remain a key area of focus for the financial services sector at the leadership level in 2016, according to recruitment specialist HAYS.

Midwinter enhances its insurance modelling capability within its cloud platform, AdviceOS, in a bid to accelerate the efficiency of life insurance advice generation.

A Shanghai-based online property insurance company has been announced as the leading established fintech company across the globe, according to a new report published by fintech accelerator H2 Ventures and KPMG.

Australia has a culture that is risk-averse and “terrified” of failure, with more work needed to be done for “unlocking the talent in the boardrooms” across the nation, according to Stone and Chalk’s chief executive, Alex Scandurra. 

KPMG Australia and Advance have welcomed the Turnbull Government’s national Innovation and Science agenda, arguing it is “a positive step” towards realising the country’s innovation potential.

The Commonwealth Bank of Australia has announced it is partnering with UNSW to develop a $1.6 million cyber-security education centre.

Maybank has partnered with China’s UnionPay Merchant Services in a bid to tap into the burgeoning card payments market in China.

Australian fintech and wealth manager, BigFuture, has completed a $520,000 capital raising as it looks to build its service capabilities.

Two Australian firms have been named in the top five fastest growing technology companies in Asia, according to an annual survey by Deloitte.

Australian women need to be more proactive with their superannuation or risk falling further behind the gender pay gap, according to superannuation fund, Kinetic Super.

Bitspark emerged as the winner of FST Media’s Top Tech Startups Showdown at the 2015 Future of Banking & Financial Services conference in Hong Kong. 

Banks need to provide “sandboxes” for experimenting new ideas to help foster a collaborative and innovative culture, according to The Singapore Fintech Consortium.