Financial Services News

Financial Services News

  • Patrick Buncsi
  • 31 August 2022
We’ve taken a snapshot of the Security Leaders’ Panel discussion featured at the Future of Security, Melbourne 2022 conference, with panellists unpacking the post-Covid threatscape for FSIs, how customer demand for ‘frictionless’ experiences can be balanced with effective cyber controls,...
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  • Patrick Buncsi
  • 31 August 2022
Board members with some level of digital literacy – and, moreover, those with an inflated sense of their tech abilities – may add substantially more cyber risk to digital infrastructure and to the direction of corporate cyber policies than those...
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  • Patrick Buncsi
  • 31 August 2022
Security engineers should work “shoulder to shoulder” with DevOps teams and cloud engineers to effectively bake in security within cloud environments from the get-go and ensure migration objectives can be delivered at pace, according to Medibank chief information security officer...
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  • FST Media
  • 29 August 2022
ASIC staff have delivered a scathing assessment of the regulator’s recently implemented Customer Relationship Management (CRM) platform, describing the system as a “major hindrance” and “a barely minimum viable product” that, rather than aiding enforcement efforts, takes up considerable resources...
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  • FST Media
  • 29 August 2022
Less than a year after its public launch, Aussie buy now pay later (BNPL) giant Afterpay has announced it will close its Money app, citing a change in strategic direction by its parent company, Block. In a statement released on...
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  • FST Media
  • 11 August 2022
Tyro appoints new tech chief; challenger banks, Heritage and BankVic, announce heavy-hitting exec tech recruits; and major changes at the top ranks of Australia’s chief financial and competition watchdogs. Australia – Payments fintech Tyro has appointed Paul Keen as its...
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  • FST Media
  • 10 August 2022
“In the financial services world, ‘currency’ is not an unfamiliar word. But data is the new currency in the digitally driven business world. It is the financial services industry’s most important commodity and something all financial services organisations should pay...
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  • Patrick Buncsi
  • 10 August 2022
Popular Open Banking tech developer, Frollo, has announced it will phase out screen-scraping on its money management app, confirming it has already disabled the practice for the big four banks: ANZ, CBA, NAB and Westpac. By the end of this...
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  • FST Media
  • 10 August 2022
The Commonwealth Bank of Australia (CBA) has recorded a big jump in active customers on its digital platforms, with around 400,000 new digitally active customers recorded by the bank over the last year, according to the latest data from its...
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  • FST Media
  • 9 August 2022
The Reserve Bank of Australia (RBA) is set to develop a “limited-scale” pilot for a central bank digital currency (CBDC), teaming up with the industry-government cooperative, the Digital Finance Cooperative Research Centre (DFCRC) and the Australian Treasury to test potential...
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  • FST Media
  • 27 July 2022
Bupa Australia has made a deliberate effort to diversify its data team in order to better catch algorithmic biases that could compromise machine learning models, according to Bupa Australia’s director of data technology, Craig Rowlands. “Typically, when we’re pulling a...
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  • FST Media
  • 27 July 2022
Westpac has become the next big four bank to launch its own rapid approval digital mortgage service, promising customers unconditional ‘time to yes’ in as little as 10 minutes. As part of a wider tech revamp, Westpac Group chief executive...
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  • FST Media
  • 27 July 2022
The Commonwealth Bank of Australia (CBA) has announced it will roll out a new personalised carbon footprint tracking service for retail customers, following a successful pilot of the technology last October. The service, to be made available for all CBA...
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  • Patrick Buncsi
  • 27 July 2022
Australia’s financial services industry should be a fraction of its current size and market cap, with its currently bloated operating structure and “clunky” systems proving a major “tax on society”, according to former big four banking executive and current Beforepay...
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  • Patrick Buncsi
  • 22 July 2022
NAB appears to have overcome the outage issues that once bedevilled its business banking arm, with the big four bank achieving “nearly four nines” (i.e. 99.99 per cent) in uptime for NAB Connect since the platform’s migration to cloud two...
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