Financial Services News

Technology is at the core of the modern banking branch, with free Wi-Fi, tablets and video wall devices to interact with. Tellers sitting behind thick glass walls are being phased out in favour of open-plan space within shopping malls, and...

The rapid uptake of online and mobile banking applications has led to a new customer-centric design approach for digital platforms at Westpac. The launch of the bank’s new iPad application (app) this week highlights the shift, with the app specifically...

Commonwealth Bank of Australia’s (CBA) bold venture into the technology vendor market, revealed this week with the announcement of its own Point-of-Sale (POS) tablet and iPhone attachment, is being viewed as a bold and potentially lucrative move by industry experts....

In a surprise announcement, Commonwealth Bank of Australia (CBA) today revealed it will take on the likes of Apple and PayPal in the next generation payments market with the launch of its own Point-of-Sale (POS) tablet and iPhone attachments. In...

Tightening market conditions, and a fight for customers in an increasingly commoditised market, are behind the recent demise of one online-only insurance provider. The development has led experts to issue a warning to the industry – increase your focus on...

As banks face increasing competition from out-of-industry players such Google, Apple and Facebook, the need to innovate the customer experience is emerging as a key point of differentiation for the incumbents. Social engagement and the branch network have been identified...

In his first announcement as Zurich’s new Chief Executive Officer, Daniel Fogarty has appointed Bobby Lehane as the company’s Executive General Manager of SME. Lehane will move on from his current role as Chief Operating Officer, General Insurance – Asia...

In an Australian first, Commonwealth Bank of Australia (CBA) has been placed inside the world’s top 100 brands, according to Millward Brown’s annual BrandZ list. The list measures brand value based on a range of metrics drawn from a combination...

Business Intelligence and analytics tools have been identified as the best defence mechanism financial services organisations can employ in their bid to compete with the new wave of non-traditional competitors that are entering the market, such as Google Wallet and...

As banks look for new opportunities to pursue growth across the Asia-Pacific region, one of the most unlikely candidates that may prove to be a figurative goldmine is the greenfield nation of Myanmar (Burma). Once a poster child for the region’s...

Big Data is a topic that has a lot of hype riding behind it, but it may be little more than a vendor-driven initiative, as most banks are already working on what is being defined as Big Data, according to...

As Australia’s $1.4 trillion superannuation industry celebrates its 20 year anniversary – and debate continues to rage on lifting the minimum contribution from 9 to 12 per cent – technology chiefs are being encouraged to reinvent key business functions if...

Westpac will not rule out further job cuts this year in response to worsening economic conditions. The bank’s technology operations have already been hit hard, with another 126 jobs lost in the latest round of cuts announced this week. This...

The relationship between financial services organisations and their employees is likely to undergo a fundamental shift, if Bring Your Own Device (BYOD) becomes a main stay across the market. With recent research showing more than 80 per cent of senior...

While a number of financial services firms are dipping their toes in the social media waters, one institution has taken a giant leap off the deep end. In the latest edition of FST Media’s CXO video interview series, world renowned...