Financial Services News

Financial Services News

  • Patrick Buncsi
  • 3 November 2022
ANZ will no longer align software engineers’ career progression with increased staff management responsibilities, according to the bank’s chief technology officer Tom Hogarth, effectively upending the financial service industry’s long-standing professional development model. Speaking at the Future of Financial Services,...
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  • FST Media
  • 2 November 2022
Members of Hunter region-based mutual banks, Newcastle Permanent and Greater Bank have voted to approve their merger during a Special General Meeting, with the votes “exceeding constitutional thresholds”. While final vote confirmations are still underway (as of 8:00 pm Wednesday...
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  • FST Media
  • 2 November 2022
Australia’s fintech sector has continued to see impressive growth and increasing maturity over the last 12 months despite growing economic uncertainty at home and abroad, as well as the loss of some traditional capital raising streams, according to EY’s latest...
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  • Yasmine Masi
  • 2 November 2022
The Australian Government has announced it will assemble a virtual international counter-ransomware taskforce after several data breaches.
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  • Patrick Buncsi
  • 31 October 2022
Australia’s chief financial crime investigation and analysis agency, AUSTRAC, has released a new guide to help FSIs fight the growing scourge of trade-based financial crime. Developed in partnership with the Australian Border Force, the guide [direct PDF link] is designed...
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  • Patrick Buncsi
  • 31 October 2022
The Bank for International Settlements (BIS), ‘the central bank of central banks’, has announced it has delivered a successful pilot of real-value and real-time cross-border transfers of central bank digital currencies (CBDCs). The pilot, part of the BIS’s ‘Project mBridge’,...
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  • FST Media
  • 27 October 2022
ANZ Bank has been handed a $25 million penalty by the Federal Court for its failure to deliver a range of promised benefits and discounts to customers, with the Court finding deficient systems and processes within the bank to blame...
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  • FST Media
  • 26 October 2022
Citi Securities Services, Citi Group’s equities trading service, has launched new a digital proxy voting service for its Australian and New Zealand arms, enabling investors to send votes to issuers or agents in real-time. Citi Australia and New Zealand confirmed...
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  • Patrick Buncsi
  • 25 October 2022
Australia’s financial industry regulators, APRA and ASIC, will each see a modest increase in staff numbers, figures from the October 2022 Budget reveal. The Australian Prudential Regulation Authority (APRA) is set to add 31 staff in FY2022-23, increasing from a...
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  • FST Media
  • 24 October 2022
Global financial intelligence and cybersecurity cooperative, the FS-ISAC, has announced NAB’s head of threat and vulnerability intelligence as one its ‘Global Leaders’ in cybersecurity. Jorell Magtibay, NAB’s manager, threat and vulnerability intelligence, was one of four banking leaders worldwide recognised...
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  • FST Media
  • 19 October 2022
Westpac has announced the launch of its new “state-of-the-art” fraud prevention centre as part of its shift of more than 2,800 employees to its new Western Sydney hub. Financial crime specialists will represent around one in five (540 in total)...
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  • Patrick Buncsi
  • 19 October 2022
Australia lost nearly one-fifth of its EFTPOS terminals in FY2022, according to the latest APRA data – the largest year-on-year drop recorded since annual reporting began in 2017 Between June 2021 and June 2022, Australia had 150,000 fewer EFTPOS terminals...
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  • FST Media
  • 19 October 2022
NZ’s Financial Markets Authority (FMA) restructures its senior committee, moves to recruit three new senior leaders; Cover-More lands new CTO; and the ACCC appoints next Deputy Chair. Australia – ANZ has announced an expanded remit for its Group Technology (Gerard...
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  • Patrick Buncsi
  • 18 October 2022
New Zealand’s chief financial regulator, the Financial Markets Authority (FMA) will sue Vero Insurance in the Auckland High Court for an alleged breach of fair dealing provisions, resulting in customers being overcharged NZ$8.7 million (AU$7.8 million). The regulater has claimed...
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  • Oksana Patron
  • 18 October 2022
Westpac is in preliminary discussions with Tyro Payments to acquire 100% of the company’s issued share capital.
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