Coronavirus crisis sparks large bank withdrawals, despite looming cash transaction ban
Consumers are purchasing more of their goods and services digitally because of fears that the virus could spread through the handling of cash.
Switching banks with one click can reshape financial services
The possibilities of open banking are frightening for the banks, which could have customers switching banks with a simple click.
RBA to update transaction processing and settlement system for new payment streams
The Reserve Bank of Australia is seeking to update its customer transaction processing and settlement system to manage numerous payment streams.
Banks will need to change the way they assess risk: Volt CEO
Volt’s CEO noted that major banks make decisions that are “data-based” and that mainstream lenders will need to learn new skills in order to assess risk.
New payments platform turns up heat on credit cards
The New Payments Platform will reduce demand for credit cards that many customers link up to apps such as Uber or Netflix to make automated payments.
Neobank delays loan rollout due to COVID-19
Due to the COVID-19 pandemic, Volt Bank is delaying the launch of its loan products to ensure its foray into lending is done “in a very prudent way”.
Australian FinTech company profile #87 – Finspo
Finspo helps average Australians save thousands on their banking.
Report: 63% of APAC customers willing to switch to neobanks
The era of digital banking is well underway in the APAC region and is set to accelerate in the next five years with 63% of customers willing to switch.
