Financial Services News

Financial Services News

  • Patrick Buncsi
  • 21 July 2022
As fellow Aussie neobanks fall (Xinja and Volt) or fold into a big bank competitor (86 400), Judo Bank’s endurance stands out as one of the industry’s sterling exceptions. For Brian Somerville, Judo’s chief digital officer, the bank’s continuing success...
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  • FST Media
  • 13 July 2022
As part of a featured panel discussion at the 2022 Future of Financial Services, New Zealand conference, leading technologists from New Zealand’s financial services sector weighed in on the unique, and not-so-unique challenges facing local banks and insurers. Speakers explored...
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  • Patrick Buncsi
  • 13 July 2022
The Bank of Queensland (BOQ) has paid out a more than $130,000 fine to Australia’s competition watchdog after it allegedly failed to meet a key obligation of the Consumer Data Right (CDR) regime for nearly five months. Under CDR rules,...
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  • FST Media
  • 12 July 2022
Aussie PayTech developer Live Payments has announced it will deploy Visa’s ‘Tap to Phone’ technology, enabling merchants to accept Visa card payments through a personal smartphone or tablet device. The Tap to Phone software, developed by Visa and initially launched...
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  • Patrick Buncsi
  • 12 July 2022
Buy now, pay later (BNPL) businesses Zip Co and Sezzle have announced they have scrapped their plans to merge citing challenging “macroeconomic and market conditions”. “We believe that mutually terminating the merger agreement with Sezzle at this time is in...
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  • FST Media
  • 11 July 2022
The Bank of New Zealand (BNZ) has blamed a coding error for its apparent breach of the country’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) laws. The Reserve Bank of New Zealand (RBNZ) has charged that, between November 2018...
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  • FST Media
  • 8 July 2022
AMP Bank has announced it has successfully migrated its core banking platform to Amazon Web Services (AWS) cloud as part of its multi-year technology transformation strategy. In a statement, the bank said its investment in cloud infrastructure would “enable new...
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  • Patrick Buncsi
  • 29 June 2022
Leading industry voices Rebecca Lee, GM Retail Operations and Performance, Kiwibank, and Sharron Botica, Chief Customer & Digital Officer, AIA, featured as part of the Future of Work panel discussion at the Future of Financial Services New Zealand 2022, explored...
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  • Patrick Buncsi
  • 29 June 2022
Global payments regulator SWIFT has unveiled a new API-based payments pre-validation service, enabling partner institutions to perform round-the-clock fraud and anti-money laundering (AML) checks on cross-border payments before they are sent. Visible at the customer-end, the pre-validation service enables customers...
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  • FST Media
  • 29 June 2022
Westpac has deployed a new ‘tap-on-phone’ payments service for business clients, enabling merchants to accept customer payments using a compatible Android mobile. The new service is based on Airpay TAP, an app-based payments solution developed by Quest Payment Systems, an...
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  • FST Media
  • 29 June 2022
Australia’s Federal Opposition appoints Shadow Financial Services Minister; the ASX promotes new CEO from within; and ANZ loses its Data and Automation Chief. Australia – The ASX has announced its replacement for retiring chief executive Dominic Stevens, with Helen Lofthouse...
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  • Patrick Buncsi
  • 29 June 2022
Australia’s first APRA-licenced neobank, Volt Bank, has announced it will exit banking and hand back its ADI licence after failing to meet a recent capital raising target. “With regret, we are announcing that Volt will be closing its deposit-taking business...
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  • Patrick Buncsi
  • 23 June 2022
With New Zealand’s late-blooming Open Banking scheme on the horizon, local financial services organisations have considerable work to do to advance data maturity and data privacy consciousness, with the country lagging fellow OECD nations, according to Sonya Crosby, chief data...
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  • FST Media
  • 15 June 2022
The Australian credit and charge card payments market is forecast to grow by 4.9 per cent this year, with surging demand for non-cash payment options post-Covid lockdowns, according to the latest industry data. The debit card payments market is also...
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  • Patrick Buncsi
  • 15 June 2022
Mambu’s cloud-based, software-as-a-service (SaaS) platform will serve as the underlying technology behind the Commonwealth Bank of Australia’s (CBA) newest mortgage services offering, Unloan, following a new deal between the core banking tech developer and Australia’s biggest bank. Mambu’s “composable” platform,...
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