National Australia Bank builds its own fintechs
A closer look at how National Australia Bank’s approach to innovation has evolved in recent years.
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FinTech Futures: Top five stories of the week – 2 December 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
National Australia Bank expands AWS collaboration with “multimillion dollar” cloud deal
The bank says the deal will enable it to “accelerate the migration of key critical workloads to AWS”.
Former Absa exec joins NAB as new chief security officer
Sandro Bucchianeri announced his departure from Absa at the start of the month.
NAB signs SME payments deal with Eedenbull
Eedenbull is providing a handful of systems to the major Aussie bank.
NAB poaches outgoing RBS exec Matheson as new COO
Les Matheson returns to Australia after an early career in the country.
NAB and CommBank race to launch no-interest credit cards
The Australian banks are reacting to the proliferation of buy now, pay later firms.
NAB signs multi-year cloud deal with Microsoft
Major Aussie bank to boost its cloud architecture with Microsoft.
NAB’s charge reduces cash earnings by AUD1.12bn
This comes ahead of the January regulatory deadline to reach a core capital ratio of 10.5%.
NAB executive resigns amid extensive cloud migration
Yuri Misnik spearheaded NAB’s switch to Amazon Web Services.
Can cultures really change? Can trust ever be reestablished?
“Don’t run when you lose, don’t whine when it hurts. It’s like first grade. No one likes a cry baby.”
Banking brickbats take out NAB’s CEO and chairman
Repercussions from Australian Royal Commission’s criticisms take effect.
Oz banking royal commission not a mellow brick road
We reach day 62 and it’s been downbeat for the big four banks Down Under.
Paytech Poynt scores NAB points with $100m funding
Series C raise includes Elavon and National Australia Bank.
NAB to migrate 35% of IT portfolio to cloud
As well as shutting down 15-20% of its IT applications.
Australia’s big banks slammed for greed and dishonesty
Royal Commission roasts them in its interim report.
NAB adds another $50m to VC fintech fund
NAB Ventures up for more start-up adventures.
Big bank’s mobile app Beem IT goes live in Oz
Australian app created by CBA, NAB and Westpac.
NAB is a Good Shepherd for Microfinance
Speckle is launched in Australia – a new service offering small loans under $2,000.
NAB doubles investment in innovation hub
Will also increase hub’s workforce by 70% in 2018.
NAB plans 6,000 job losses in digital banking revamp
National Australia Bank (NAB) will make 6,000 job cuts over the next three years with its digital banking revamp and long-term strategy to maintain profit. Andrew Thorburn, NAB’s CEO, says: “I think all big businesses – particularly incumbent businesses – the reshaping of the workforce is going to be significant. And I think it’s important […]
Three of Australia’s largest banks partner to create payment platform Beem
Three of Australia’s largest banks, The Commonwealth Bank (CBA), National Australia Bank (NAB) and Westpac have partnered to create Beem – a new mobile peer-to-peer (P2P) payments platform.
NAB gets down and under to overhaul SME business loans
National Australia Bank (NAB) has unveiled a complete overhaul of its existing business standard loan form contracts that will “benefit” over 130,000 Australian business owners.
Four Australian banks sign up for Swift’s global payments innovation
Four Australian banks, Australia and New Zealand Banking Group (ANZ), Commonwealth Bank, National Australia Bank (NAB) and Westpac are now live or planning to implement Swift’s global payments innovation (gpi) initiative. According to Swift, these Australian banks represent over 80% of cross-border payments flow for Australia. The banks all say the same stuff – so […]
Australia’s UBank unveils virtual assistant for home loans
UBank, a subsidiary of National Australia Bank (NAB), has launched RoboChat, Australia’s “first virtual assistant” for online home loan applications. RoboChat will guide customers through the online mortgage form by providing real-time input on questions like “what term do you offer on home loans?” and “do you offer redraws and how do they work?”. Lee […]
Apple Pay defeats Australian banks in payments punch-up
Apple Pay has emerged victorious in its long-running feud with four domestic banks over their permission to collectively bargain with Apple and boycott Apple Pay. The Australian Competition and Consumer Commission (ACCC) has issued a determination denying authorisation to the Commonwealth Bank of Australia (CBA), Westpac, National Australia Bank (NAB), and Bendigo and Adelaide Bank […]
Morgan Stanley and National Australia Bank to leave R3?
Morgan Stanley and National Australia Bank (NAB) are understood not to be renewing their membership with the R3 blockchain consortium.
End is nigh for NAB core banking revamp
National Australia Bank (NAB) appears to be entering the final stages of its seven-year Oracle-based “NextGen” core banking overhaul. The bank originally planned to build an in-house mortgage origination platform, beginning with its digital banking subsidiary UBank. But that was scrapped – with the loss of AU$106 million ($81 million) – and Oracle FSS was […]
Six more in the mix for Ripple’s payments network
Standard Chartered, National Australia Bank, Mizuho Financial Group, BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank are the latest banks to join Ripple’s blockchain-powered network for cross-border payments. “2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as […]
New NAB mobile banking app feast for control freaks
National Australia Bank (NAB) will launch a new mobile banking app later this year – which promises to give customers more control over how, when and where they use their cards. The new app will include card transaction controls to self-manage personal Visa debit and credit cards through a mobile device. And, in an “Australian […]
Apple bites back over Australian banks’ “cartel”
You can tell cartels to go to hell if you’re Apple. The firm has responded strongly to three of Australia’s big banks’ plans to team up for negotiation deals on digital wallet access. According to the Australian Financial Review, the request from the Commonwealth Bank of Australia, National Australia Bank and Westpac to “collectively negotiate […]
National Australia Bank HK adopts Thomson Reuters Eikon
National Australia Bank in Hong Kong has installed Thomson Reuters’ Eikon desktop across its trading floor in a move that the bank says will increase staff productivity and drive up cross-market communication.
