Banking

Jul
19

Small and mighty: Meet the challenger banks nipping at the heels of the big four

A slew of challenger banks are poised to burst onto the Australian finance scene, in a bid to take on the big four, and change the way that Aussies think about banking. Typically offering cloud-based banking services without a bricks-and-mortar branch in sight, these so-called ‘neobanks’ say they will provide a more personal banking service, […]

By Reposted by Australian FinTech | Banking . FinTech
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Jul
19

Fintech’s double-edged sword

Ultra-low interest rates and fintech were two of the major threats to the stability of the financial system identified by the global regulator in its recent annual economic report. “Sustainable profitability is especially important at the current juncture: banks have been facing the dual challenge of persistently and unusually low interest rates eating away at […]

By Reposted by Australian FinTech | Banking . FinTech
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Jul
18

Square and BOQ team up to help more Australian small businesses get started

Global payments company Square, founded and run by Twitter CEO Jack Dorsey, has announced it is teaming up with Bank of Queensland (BOQ) for a first-of-a-kind partnership that will give more Australian small businesses a simple way to access great banking services and more flexible payment options. From today, new BOQ small business customers signing […]

By Australian FinTech | Banking . FinTech . Payments
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Jul
18

$2bn of broker commissions in fintech’s crosshairs

An Australian fintech has set its sights on disrupting the dominance of the mortgage broking industry by appealing to the banks who it claims are keen to reduce the $2 billion they spend on broker commissions. Adelaide-based online home loan platform Joust has distanced itself from its competitors in the fintech space, which has seen […]

By Reposted by Australian FinTech | Banking . Borrowing . FinTech . Lending . Mortgage
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Jul
12

Bank of Queensland bans using home equity loans for crypto

Lenders are banning property buyers from using home equity to buy cryptocurrencies because of regulatory fears and increased risk from volatile trading conditions. Bank of Queensland is the latest to ban any drawdown or lines of credit from loans to be used for leveraged purchases, trading or other use of the largely unregulated global digital […]

By Reposted by Australian FinTech | Banking . Bitcoin . Borrowing . FinTech . Lending . Mortgage
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Jul
10

Forget Hayne, here’s four ways technology will remake financial advice

Technology’s waves have swamped plenty of other industries, so it’s hardly a surprise they are washing over the provision of financial advice. So much so, there’s talk of yet another “-tech”: as in, AdviceTech. So what’s accelerating the pace of digitisation of financial advice? Four key themes come to mind: First, providers realise the current […]

By Reposted by Australian FinTech | Banking . FinTech . Investing
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Jul
10

Credit cards on the decline as Visa says we have passed ‘peak plastic’

Australia has reached “peak plastic” and credit card transactions will now start to decline, as people increasingly adopt mobile and wearable payment technologies, according to the new country manager of Visa. In his first interview since becoming the head of Australia, New Zealand and the South Pacific at Visa in January, former local head of […]

By Reposted by Australian FinTech | Banking . Currency . FinTech . Payments
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Jul
09

Should The Reserve Bank of Australia Issue a Digital Currency?

During a recent Australian Business Economists forum, the Head of Payments Policy Department for the Reserve Bank of Australia, Tony Richards, had a lot to share on cryptocurrencies and distributed ledger technology in the Reserve Bank’s perspective. Of particular interest was whether the bank might consider issuing a digital version of the Australian Dollar. According […]

By Reposted by Australian FinTech | Banking . Bitcoin . Currency . FinTech
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