Australasia


Westpac backs AI for digital banking

Australian bank Westpac is to trial the use of artificial intelligence (AI) in its digital banking systems, as it looks to automate customers’ queries. With the rise of digital banking, Westpac’s general manager of consumer digital, Travis Tyler, says it is looking at using “bots” to respond to customers’ simple questions. One example includes the […]

ASX chooses Metamako for real-time monitoring

Australian Securities Exchange (ASX) has opted for Metamako’s MetaMux for real-time monitoring of its new trading platform and for timestamping and time synchronisation of its internal network traffic. Dr. Dave Snowdon, founder and CTO of Metamako, says: “This is the first time that a major exchange has publicly acknowledged its use of our products. The […]

ANZ first Australian bank to offer Android Pay

Australia and New Zealand-based banking group, ANZ, is the first bank to launch Android Pay in Australia. ANZ chief executive officer Shayne Elliott says: “Being the first major bank in Australia able to offer Android Pay is another important milestone for ANZ.” Google senior director product management Pali Bhat adds: “Using Android Pay is more […]

ThinkForex rebrands to ThinkMarkets, launches new trading platform

ThinkForex, a financial derivatives trading provider, has rebranded to ThinkMarkets and launched ThinkTrader, its own multi-asset trading platform. The changes are part of the firm’s growth ambitions; and Nauman Anees, CEO and co-founder at ThinkMarkets, says it still has “the same mission and values but the new brand better reflects who we are, a technology […]

ANZ CIO says old core banking system “not a hindrance”

The CIO of Australia and New Zealand-based banking group, ANZ, says there are no plans to replace its CSC Hogan core banking system, despite the raft of revamps at rival banks. ANZ uses Hogan in Australia and CIO Scott Collary says it is “not a hindrance”. Hogan is now by and large in maintenance mode […]

Bendigo and Adelaide Bank deploys IBM Bluemix cloud development platform

Bendigo and Adelaide Bank, Australia’s fifth largest retail bank, has deployed IBM’s cloud development platform, Bluemix. It will assist the bank to develop new banking products and services for its 1.6 million customers, says Stella Thredgold, the bank’s business enablement exec. “The way our customers engage with us and the service they need is changing, […]

Australian wealth manager Crestone live with Avaloq Banking Suite

Crestone, a wealth management business created out of UBS Wealth Management Australia, is now open for business, underpinned by Avaloq’s flagship core banking system. Avaloq Banking Suite supports front-to-back office operations of Crestone, multi-asset and multi-currency. Peter Scott, the vendor’s GM for Asia Pacific, says that Crestone was among the first users to apply Avaloq Banking […]

Unisys revamps New Zealand’s Co-operative Bank IT infrastructure

Unisys Corporation’s New Zealand subsidiary has revamped the Co-operative Bank’s IT infrastructure using Unisys ClearPath Forward systems. Unisys says ClearPath Forward provides “enhanced security” for client and business information, as well as scalability to support the addition of new services. In addition, it says ClearPath ePortal, an automated application modernisation solution, will support the bank’s […]

Amazon Web Services outage causes digital banking problems in Australia

A technical outage of the Amazon Web Services (AWS) cloud this weekend left many customers of Australian banks unable to use cards, ATMs and Eftpos terminals. The banks affected include Westpac, ME Bank and Commonwealth Bank of Australia (CBA). Some also pointed the finger of blame at payment providers such as First Data. Just a […]

NAB teams with Telstra for digital SME marketplace

National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]

Nucleus Software launches mobile lending solution in Australia

Nucleus Software has released its mobile loan self-sourcing solution – mApply – for the Australian market. The firm says mApply helps banks digitise their loan origination lifecycle. Customers and mortgage brokers can view pre-approved loan offers from a bank, select the best offer and submit a paperless loan application “within minutes” and “without any need […]

ANZ pilots shared ledger for payments reconciliation

Australia and New Zealand-based banking group, ANZ, is trialling a shared ledger in the reconciliation of international payments with an unnamed US bank. ANZ says it is not strictly using blockchain but the shared ledger will act in a similar way. Its objective is to reconcile cross-border payments between counterparties in real time. Nigel Dobson, […]

Sydney Stock Exchange develops blockchain settlement system

Sydney Stock Exchange (SSX, formerly Asia Pacific Stock Exchange) is building a settlement system based on the distributed ledger technology. Specialist consultancy firm Bit Trade Labs is assisting with the project. To begin with, the new blockchain system will be used to settle trades in private companies, but SSX hopes that once the regulator grants […]

MyState in digital banking transformation

Australia-based financial services group, MyState, is gearing up to launch a new digital banking system, provided by domestic vendor Rubik Financial. The new solution is set to go live in August and promises to transform MyState’s digital channels and customer experience, according to Rubik. It will provide “superior digital experience” to customers, the vendor says, […]

Calastone expands funds transaction network to New Zealand

London-based Calastone, the global funds transaction network, has expanded into New Zealand, and already carried out its first transaction with Australia. Calastone MD Australia, Sarah Hayward, says the firm’s extended cross border coverage enables transactions between Australian and New Zealand platforms, fund managers and respective counterparts. “Our expansion has been primarily driven by our Australian […]

Reserve Bank of New Zealand chooses SIA for new RTGS system

The Reserve Bank of New Zealand (RBNZ), the nation’s central bank, has chosen Italian payments company SIA to implement and support a new real-time gross settlement (RTGS) system. The new system will replace the current exchange settlement account system (ESAS). It will be delivered by SIA’s subsidiary Perago, based in South Africa. Perago is a […]

The Reserve Bank of New Zealand opts for Numerix risk analytics software

New Zealand’s central bank, Reserve Bank, is implementing Numerix’s Oneview for trade valuation and risk management analytics. The system will support risk pricing and risk analytics, market standard trade valuation, and position and collateral management. “We are improving our technology and analytics capability in our domestic and foreign market operations,” says the bank’s deputy governor, […]

BPC’s SmartVista powers Warehouse Money cards, vendor’s largest retail project

BPC Banking Technologies says New Zealand’s largest retail chain – Warehouse Group – has chosen the SmartVista payments suite for its financial services business. The initiative is called “Warehouse Money” and offers the retailer’s consumers the chance to save 5% on purchases via a new Visa card or earn “purple dollars” via the Purple card. […]

Square comes around to Australia

US-based Square’s payment processing and hardware is now available in Australia. Operating internationally since 2012, Australia marks the fourth market for Square, joining the United States, Canada and Japan. Square says its chip card reader is the “smallest” payment card reader on the Australian market. Sellers can accept card payments via Visa, MasterCard and American […]

NAB Pay rolls out on Android smart phones

NAB has launched its new mobile payment service NAB Pay, designed to enable customers to use their mobile phone to make purchases, without the need for a physical card. Customers with a compatible Android mobile device and a NAB Visa Debit Card have been able to start using NAB Pay from 25 January, available as […]

How ANZ used mapping in its merger with National Bank

When ANZ decided to make its acquisition of New Zealand’s National Bank into a single brand, it had some wide-ranging rationalisation ahead of it to reduce costs while expanding service coverage. Software from Californian geographic information systems specialist Esri helped.

ASIC consults on OTC derivatives reform

The Australian Securities and Investments Commission has launched a consultation on proposed changes to the trade reporting rules for OTC derivatives, in a move that suggests Australia is learning the lessons of OTC reforms in other countries.

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.

New rules for dark trading and HFT in Australia

Australia’s Securities and Investments Commission has set out a series of final rules on dark liquidity and high-frequency trading, which it says will promise a more stable market.

New Zealand joins BT Radianz Cloud

New Zealand’s NZX has joined BT Radianz Cloud, a network that connects to global markets, making it easier for international investors to access the New Zealand market, which is predominantly known for dairy products.

ASX prepares client clearing for OTC derivatives

The Australian Securities Exchange has set out plans to offer client clearing of OTC derivatives before the end of the year, in a move designed to provide new risk management controls to Australian investors.

Chi-X Australia appoints Fildes CEO

Australian alternative trading system Chi-X Australia has appointed John Fildes as its new chief executive, taking over from Peter Fowler on 1 May.

ASX debuts new network for international investors

The Australian Securities Exchange has expanded its efforts to connect to international market with the launch of the ASX Net Global network, which connects to Asia, Europe and North America.

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