Financial Services News

Financial Services News

  • Mike Taylor
  • 4 August 2021
The acquisition of Afterpay by US payments company Square Inc is being measured as the largest transaction of its type in Australia, delivering to its Aussie founders a multi-billion-dollar windfall. But for Square, the acquisition represents a shortcut. That shortcut...
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  • FST Media
  • 4 August 2021
NAB looks abroad for new Chief Security Officer, Zurich appoints Country CEO to jointly lead its General Insurance and Life arms, and Judo loses its CISO following major exec rejig last month, as July sees a number of key movements...
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  • Nanda Lakhwani
  • 3 August 2021
US payments giant Square, owned by Twitter co-founder Jack Dorsey, has announced a $29 billion ($AU39 billion) takeover of Australian buy now pay later (BNPL) pioneer Afterpay, in a deal that both companies say will expand Afterpay’s reach in the...
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  • FST Media
  • 1 August 2021
NAB adds to its data and analytics muscle with big-name appointments, while CBA announces the second member of its Distinguished Engineer triumvirate. Australia – National Australia Bank (NAB) has poached Christian Nelissen from fellow Aussie big four bank, CBA, filling...
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  • 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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