Banking

Apr
16

What does NPP mean for businesses and how on earth do they implement it?

Since going live on the 13th of February last year, retail banking customers have adopted NPP on mass. In fact, a number of major banks now use the NPP as a default method of transferring funds between Australian accounts. However, so far, progress has been slower for businesses despite some obvious benefits of real-time, data-rich, [...]
By Australian FinTech | Banking . FinTech . Payments
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Apr
15

86 400 secures national distribution with Vow Financial, readies home loan offering

86 400, a genuine alternative to Australia’s Big Four banks, has secured national distribution with Vow Financial, one of the largest aggregators in Australia – part of the Yellow Brick Road Group. The partnership will enable 86 400 to deliver home loans via Vow Financial’s network of over 1,200 brokers. This development brings 86 400 [...]
By Australian FinTech | Banking . FinTech . Mortgage
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Apr
12

From devolution to revolution: re-bundling the banks

Glenn Hodgeman, owner of the AltFi Australasia Summit, suggests that re-bundling and white labelling may be the future of lending in Australia. As Bill Gates once famously stated, “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten”. But given the [...]
By Australian FinTech | Banking . FinTech
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Apr
12

Aussie fintech Volt Bank starts by asking consumers what they want

In January, the Australian Prudential Regulation Authority (APRA) gave fintech startup Volt Bank a licence to operate without restrictions as an authorised deposit-taking institution (ADI). The green light was given to the new player following APRA approval in May 2018 to act in the Australian finance market as a Restricted ADI. The APRA approval gave [...]
By Reposted by Australian FinTech | Banking . FinTech
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Apr
10

How Blockchain is boosting the Fintech Sector

The Financial Technology sector, commonly known as Fintech, has changed considerably over the years. From the introduction of ginormous super computers in the 1970’s that would struggle to compete with the average phone for power these days, technology has advanced the finance world. The 1980’s saw automated stock exchanges and the increased use of computer […]

By Reposted by Australian FinTech | Banking . Blockchain . Currency . FinTech
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Apr
07

New technologies key driver of digital banking

Banks around the world are citing new technologies as having the biggest impact on the industry and not customer demands or regulation, according to a new survey. The survey by the Economist Intelligence Unit, conducted for Temenos, has revealed that retail banks believe new technologies are more important than customer demands and regulation for the […]

By Reposted by Australian FinTech | Banking . FinTech
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Apr
05

Bene working up to be a challenger bank in Australia

Bene is a new lender in Australia that is working towards building a neo-bank. At the moment, Bene says it is not a bank or an authorised deposit-taking institution (ADI), and is not authorised by the Australian Prudential Regulation Authority (APRA) to conduct banking business in Australia. However, the firm intends to apply for authorisation […]

By Reposted by Australian FinTech | Banking . Borrowing . FinTech . Lending
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Apr
04

ANZ leads regulators towards trade finance blockchain

Regulators in Hong Kong, Singapore and China are working with ANZ Banking Group to digitise trade finance through blockchain technology, a move that will enable banks to make faster lending decisions and regulators to better monitor international capital flows. ANZ is one of seven banks to create the eTradeConnect platform, which allows importers and exporters […]

By Reposted by Australian FinTech | Banking . Blockchain . FinTech . Payments
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