CBA blocks credit card purchases of virtual currencies
The Commonwealth Bank of Australia is following in the wake of others.
Australasia
Top fintech stories this week – 16 February 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Infographic: who is ready for Open Banking in Asia?
IDC Financial Insights maps the readiness for Open Banking among Asia, Asia Pacific and Australasia markets in 2018.
Australia’s new payments platform launches
Enabling customers with accounts at different banks to make 24×7 payments in real-time.
Wizards of Oz pull back curtain on open banking
Australian open banking review published – but still seeks feedback.
NAB is a Good Shepherd for Microfinance
Speckle is launched in Australia – a new service offering small loans under $2,000.
Credit Union Australia feeling Rosie with Flamingo AI insurance chatbot
Provides a service for potential new members visiting its website.
Xero and Kaseya form data sharing duet
Cloud-based accounting platform and IT management solutions provider get together.
Bankwest launches Australia’s first payments ring, Bankwest Halo
“Just grab the things you need, fist-bump the terminal and go.”
ANZ CEO seeks better banking PDQ
Sends lengthy letter to staff urging restoration of customers’ trust in wake of commission on banking misconduct.
ANZ internet banking goes dead
Ten hours a slave… to Twitter complaints.
Banking tech round-up: 22 January 2018
Our southern stars are Bank Zero, Westpac and Commonwealth Bank of Australia.
NAB asks Alexa for hands-free banking
Users can now perform tasks such as requesting their account balance or getting details on their latest deposits.
Swift Institute launches data protection challenge Down Under
Aimed at challenging students in all levels of further education in Australia.
NAB doubles investment in innovation hub
Will also increase hub’s workforce by 70% in 2018.
Hyperwallet now supports payouts from Amazon’s Australia marketplace
‘Tis the season for online shopping (and selling).
Avoka raises $16m in new funding
Digital customer acquisition technology firm gets equity funding in a round managed by Moelis Australia.
Top fintech stories this week – 24 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Co-op Money NZ wins credit union legal fight
Co-op Money NZ, the industry body for credit unions and mutual building societies in New Zealand, has won its legal fight to continue providing wholesale banking. The organisation has successfully appealed against the decision of the Registrar of Friendly Societies and Credit Unions. By way of recap, earlier this year, a former Co-op member, Westforce […]
Rambus partners with Eftpos for Android Pay in Australia
Eftpos, the Australian domestic debit network, is using Rambus’ token service provider (TSP) technology to digitise payment cards to support Android Pay. Rambus says TSP enables Eftpos to maintain consumer data securely through tokenisation, which allows the replacement of sensitive data with unique reference numbers so information is not compromised. In turn, Android Pay lets […]
White paper: electronic signature guide for banks in Australia
Get an introduction to the world of e-signatures through this comprehensive guide. Learn the top use cases, best practices and key requirements for Australian banks of all sizes.
Co-op Money NZ moves credit union members to new core banking system, Flexcube
Another member of Co-op Money NZ, the industry body for New Zealand’s credit unions and mutual building societies, is due to go live with a new core banking platform, Oracle FSS’s Flexcube.
Rising from down under, Australia’s fintech industry grows
There’s some glorious thunder down under, with a census revealing that the Australian fintech ecosystem has seen massive growth over the past year.
Top fintech stories this week – 3 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
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.
Westpac NZ in paytech modernisation with ACI Worldwide
Westpac New Zealand has completed “a wide-ranging banking technology transformation” with ACI Worldwide, according to the vendor.
Sibos 2017: NPP a marathon, not a sprint
Payments industry participants in countries about to embark on, or in the early days of, real-time and instant payments infrastructure projects should acknowledge that “it doesn’t all have to happen on day one”.
Rambus and Eftpos team up to support Apple Pay in Australia
Mobile payments firm Rambus has teamed up with Eftpos, the Australian domestic debit network, to help support transactions with Apple Pay for users in Australia. Through integration with Rambus’ token service provider (TSP) technology, the firm says Eftpos is able to support Apple Pay. Chakib Bouda, CTO of the Rambus Payments Division, says: “This partnership […]
Open banking: nothing personal
Financial authorities globally are promoting open banking. While it represents a shift in the mindset of traditional banks, Heather McKenzie, editor of Daily News at Sibos, finds they may be up to the challenge.
Instant payments momentum gathers pace globally as Swift strengthens its role
Instant payments are set to be one of this year’s hot topics at Sibos. Last week, Swift and EBA Clearing announced that users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018. Elsewhere, Australian consumers have been told they will be able to make instant payments from January next year.
SocietyOne tops $350m in loans
Australian P2P lender SocietyOne has revealed it has issued more than $350 million in loans on its platform since 2012, reports Julie Muhn at Finovate (Banking Technology’s sister company). Additionally, the company has the highest number of current loans, setting a record for itself with $200 million in its books. “Our growth in 2017 underlines […]
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.
SCU launches AI service for customer queries
SCU (formerly Sydney Credit Union) has partnered with Australian fintech firm Epictenet to implement an artificial intelligence (AI) powered platform for customer queries. The new platform, called “Let’s Chat” (in its initial phase), is programmed to respond to general queries related to home loans, personal loans, credit cards and insurance products. At a later phase, […]
The rise of regtech down under
Could Australia give the UK a run for its money? Wayne Johnson, co-founder and CEO of Encompass Corporation, explores.
Kiwibank puts core banking tech overhaul under “strategic review”, writes off NZ$90 million
Kiwibank, New Zealand’s fifth largest bank, is conducting a “strategic review” of its implementation of SAP’s core banking and payment software – a large-scale project known as CoreMod.
Top fintech stories this week – 1 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Avoka reports record growth for second consecutive year
Australia-based digital banking software vendor Avoka is celebrating its second year in a row of topping expectations. The company has experienced big gains in order numbers (79% overall, 67% new business), opened a new office in Frankfurt, Germany, and launched a new solution to help FIs build and implement their visions for an omnichannel experience, reports […]
Eftpos Australia launches new settlement service
Eftpos Australia, the nation’s most widely used debit card payments system, has unveiled its new eftpos Settlement Service (eSS). According to Eftpos, eSS enables the centralised settlement of CHQ (cheque) and SAV (savings) transactions processed via the Eftpos Hub. Paul Jennings, Eftpos acting CEO, says the implementation took 18 months and with all members now […]
Commonwealth Bank rooting for Australia’s foray into quantum computing
Commonwealth Bank of Australia has joined telco firm Telstra, the Federal Government, the New South Wales Government and the University of New South Wales (UNSW) in an $83 million venture to found Australia’s first quantum computing company. The firm, Silicon Quantum Computing (SQC), has been launched to advance the development and commercialisation of the UNSW’s […]
