Banking

Nov
27

Banking royal commission drives investment in open banking, regtech

Within minutes of National Australia Bank CEO Andrew Thorburn entering the witness box at the banking royal commission on Monday morning, he was riffing about Uber and Snapchat. These sorts of apps have fundamentally changed customers’ expectations of banks, he said, forcing banks to lift investment in new technology. “I think the expectations of having […]

By Reposted by Australian FinTech | Banking . FinTech
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Nov
26

Fintech disruption threatens wholesale payment revenues

Banks with large wholesale payments and cash management operations must innovate to avoid being ousted by disruptors. Wholesale payments and cash management (PCM) is a rapidly growing area, but existing players are under threat from technological disruption and must innovate in order to survive, according to a report by management consulting firm Oliver Wyman. In […]

By Reposted by Australian FinTech | Banking . FinTech . Payments
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Nov
23

Australian-founded fintech firm Ignition Advice finalists in the 2018 Banking Technology Awards

The Banking Technology Awards have announced the finalists for 2018, including Ignition Advice as a finalist in the category Best Use of IT in Private Banking / Wealth Management. The Awards recognise excellence and innovation in the use of IT in financial services worldwide, and the people who make it happen. “This is an exciting […]

By Australian FinTech | Banking . FinTech
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Nov
22

Will Australians trust startups with their money as the cashless economy takes hold?

F5 Networks today announced new research showcasing that while Australians are moving towards a cashless economy, they remain divided when it comes to the future of payments. The study, The Changing Face of Payments & The Rise of the Cashless Economy, revealed over a third (34%) of Australians wouldn’t trust a startup with their money despite 58% of people using digital […]

By Australian FinTech | Banking . FinTech . Payments
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Nov
21

Bank gets on board with more digital wallets

A non-major bank has announced that its customers will be able to make payments using Garmin Pay. MyState Bank has added the ability for customers to use Garmin Pay, which functions as a digital wallet and fitness monitor, to make contactless payments. The non-major bank said that it expects a 200 per cent increase in […]

By Reposted by Australian FinTech | Banking . FinTech . Payments
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Nov
21

Banks should watch out – the fintech era has barely begun

There’s an endless stream of news about open banking and challenger banks, while the traditional finance sector watches on with a mixture of admiration and suspicion. Banks have come under attack, not only from the hype-machine, but more meaningfully from startups. Traditional finance providers that assumed they could weather the technology storm on reputation alone […]

By Reposted by Australian FinTech | Banking . FinTech
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Nov
21

Heritage Bank offers new payment service

Heritage Bank customers now have more payment options at their disposal, following the introduction of a popular service. The bank has introduced Samsung Pay, which means customers can use a compatible Samsung device to make secure purchases in-store in Australia and across the world. Heritage Bank CEO Peter Lock said the bank was thrilled to […]

By Reposted by Australian FinTech | Banking . FinTech . Payments
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Nov
19

New deal connecting Australian businesses to Chinese visitors

Australian businesses are set to benefit from a collaboration between NAB and Alipay which will revolutionise how Chinese tourists pay for products and services. NAB Executive General Manger of Deposit and Transaction Services Shane Conway said more than 1 million Chinese tourists visit Australia each year spending more than $11 billion. “By making China’s number […]

By Australian FinTech | Banking . FinTech . Payments
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