Major banks could face challenges from big tech with updated Reserve Bank rules
The Reserve Bank of Australia has thrown open the gate for technology companies to enter the payments space and challenge the big four banks’ oligopoly.
FIS powers payment services for Australia’s all-digital Volt Bank
New digital bank Volt Bank has chosen technology and services from FIS (NYSE: FIS) to power its mobile and card payment services.
We’re ready for Open Banking, says Tic:Toc CEO
Tic:Toc CEO says his business is ready for open banking and the local industry will benefit from becoming one of the first places in the world to embrace it
How digital bank Up built for speed and scale
A legacy-free, mobile-first platform, building for scale, and a focus on openness helped digital bank Up reach its first hundred thousand customers.
New retail bank 86 400 rattles tin for fresh equity
Investment bank Morgan Stanley has kicked off a $100 million-plus private funding round for the country’s newest bank 86 400.
Government brings open banking to parliament
The Consumer Data Right legislation, that will enact open banking will be seen by parliament this week according to the Treasurer.
CEO of newly approved bank aims at big four
Robert Bell, CEO of Australia’s newest bank, 86 400, is not interested in creating a “small, niche bank” but wants to create a competitor to the big four.
IMF warns banks must evolve or be ‘left behind’ amid the rise of digital money
“The Rise of Digital Money” noted that cash and bank deposits, which are currently the most common forms of money, will “face tough competition.”
