Financial Services

QBE has overhauled its legacy property claims process, developing a new tool which can automatically handle non-complex claims.
 

A little more than a month away from the Open Banking pilot and eyes remain locked on the big four as they lead the implementation of Australia's first Government-mandated data-sharing regime. But could a challenger bank prove the catalyst for innovation in an Open Banking era?
 

Rob Goudswaard will step down as CUA’s chief executive, opting not to renew his five-year contract with the Brisbane-based credit union.
 

April and early May saw a number of high-profile appointments and departures across the financial services sector, with notable additions to Westpac, Rest Super, and UniSuper.
 

"It’s a big move to be a bank. There’s often an underestimation of the rigours of the process; your posture as a business must change. The Royal Commission has highlighted the very strong duty to one’s customer, and tech companies won’t necessarily want to go that far in such a direction."
 

Ten British fintechs are poised to enter the Australian market as part of the UK Government’s newly-launched Fintech Bridge Pilot Program, building upon a bilateral Fintech Bridge agreement signed last year between the Commonwealth nations.
 

For a defiant Stuart Harrison, Medibank’s chief information security officer, cybersecurity isn't something that you can simply "buy your way out of" or throw the latest tech solutions at. The strength of your cyber defence is, ultimately, contingent upon the quality of your people.
 

Australian consumers lost more than $489 million to scammers last year while local businesses surrendered more than $60 million to criminal fraudsters, according to the Australian Competition and Consumer Commission (ACCC’s) annual Targeting Scams report.
 

ASIC is set to develop a next-gen solution to weed out unscrupulous sales calls, seeking industry support to develop a new voice analysis capability that can detect unethical conduct and boost regtech-based surveillance of life insurers.
 

The month of March and early April saw a number of high-profile appointments and departures across the financial services sector, with noteworthy additions to AIA, BOQ and MLC Life.
 

Australian government and private sector collaboration in cybersecurity lags significantly behind global leaders and must progress “a lot further” to boost the collective security posture of both industry and the public sector and to take on new and emerging threats, according to NAB’s chief security officer, David Fairman.
 

Australia’s chief prudential regulator, APRA, has announced it has selected a new partner to overhaul its data reporting platform, used by more than 4,500 financial services institutions around the country to meet mandatory reporting commitments.
 

Australia’s chief prudential regulator, APRA, is seeking feedback from financial services on a proposed cross-industry guide to manage cyber risk and resist cyber-crime.
 

CBA-owned ASB Bank has announced the official release of a new asset and investment tracker dubbed 'Wealth Central'.
 

While the landscape may appear “bleak” for life insurers in the wake of the Royal Commission, the industry has an opportunity to “hit the reset button” and to capitalise on new technologies sweeping the industry that could positively transform their relationships with customers, says MLC Life’s Chief Innovation and Transformation Officer, Sarv Girn.